As USA Fencing and the fencing community navigate through this uncertain time, we understand that fencing clubs and coaches across the country have been impacted significantly. We are committed to keeping you informed of potential resources to assist small businesses during the COVID-19 crisis.
Please be aware that the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted on Friday, March 27. The CARES Act includes many programs that may be helpful to clubs, including Small Business Administration (SBA), Payroll Protection Program (PPA), SBA Emergency Disaster Loans, Employee Retention Tax Credit and Expanded Charitable Deductions.
Small Business Administration
As a reminder, we suggest you research options available through the Small Business Administration. They have resources available for guidance and loans.
It's highly recommended you apply for the SBA loans as soon as possible as they are on a first-come, first-served basis. You will also want to check with your bank to make sure they are an approved SBA lender. More Information »
The U.S. Chamber of Commerce
The U.S. Chamber of Commerce has created a guide that outlines steps for small businesses to take to prepare to access funds during this disruptive period.
Federal CARES Act
Click here for information from the SBA that outlines the new Federal CARES Act. This video also may help as it talks about the types of loans available to businesses and non-profits.
Payroll Protection Act
The PPA offers loan forgiveness if certain program requirements are met. We understand that this program will go online on Friday, April 3. Clubs should consult with an existing SBA lender. More Information »
Force Majeaure Clause in Lease
It's recommended you look at the lease for your space to see if you have a Force Majeaure clause. This type of clause typically alters parties' obligations and/or liabilities under a contract when an event beyond their control prevents them from fulfilling those obligations.
Facebook Resources for Businesses
Facebook is offering businesses resources to help keep you on track during these challenging times. More Information »