EIDL borrowers get additional six-month deferment

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EIDL borrowers get additional six-month deferment

Tue, 03/15/2022 - 1:12pm -- tim

Small Business Administration Vermont Today, Administrator Isabella Casillas Guzman, head of the US Small Business Administration and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, directed the Agency to provide additional deferment of principal and interest payments for existing  COVID Economic Injury Disaster Loan program Borrowers for a total of 30 months deferment from inception on all approved COVID EIDL loans.

The extended deferment period will provide additional flexibility to small business owners impacted by the pandemic, especially those in hard-hit sectors managing disruption with recent variants, as well as recent supply chain and inflation challenges amid a growing economic recovery.

Since its inception, the COVID EIDL program, a federal disaster relief loan, has allocated more than $351 billion in relief aid to 3.9 million borrowers, including to the smallest of small businesses from historically underserved, disadvantaged communities. 

Read more.

BTV Climate Tech Firm Sold

Packetized graphic

Some mission-driven entrepreneurs could never imagine selling their growing business, whereas other entrepreneurs start an enterprise with the primary goal to sell it one day. 
It appears Paul Hines, Mads Almassalkhi and Jeff Frolik have found the entrepreneur’s version of the Goldilocks Zone when the company they cofounded, Packetized Energy located in Burlington, was acquired by EnergyHub. Hines and all the full-time employees are not only staying on with EnergyHub and continuing their work in Vermont, but also are expanding operations.
“Paul and the staff are going to continue working on a number of initiatives, including the integration of Packetized Energy’s technology into EnergyHub’s software solutions for the electricity industry. EnergyHub is growing and hiring rapidly and looks forward to growing the size of its workforce in Vermont.  The fact that EnergyHub sees Vermont as a strategic place to grow speaks to the strength of our State's talent pool and growing climate tech sector,” said Frolik.

Read more.


Women-Owned Small Business Certification Workshop March 22

The Small Business Administration and the Vermont Procurement Technical Assistance Center are hosting a free workshop at 11 a.m. March 22 about federal Women-Owned Small Business certification. The workshop is part of Women’s History Month.

The federal government has a reoccurring goal to spend not less than 5% of the total value of all prime contract and subcontract awards each fiscal year with women-owned small businesses. In FY2020, $27 Billion of eligible prime contracting dollars went to WOSBs!

This workshop is a deep dive into the new process SBA uses to certify Women-Owned Small Businesses. SBA ceased accepting self-certification for WOSB in 2020. Find out if you are qualified to participate, how to certify your business, and where to get help with the process.

Discussion topics include:

  • WOSB overview
  • WOSB certification benefits
  • WOSB eligibility requirements
  • WOSB online certification process
  • WOSB documentation submission requirements
  • SBA WOSB tools & resources
  • VT PTAC available assistance with the application process

To register, visit https://vtptac.ecenterdirect.com/events/856

Explore The Mystery Of Intellectual Property Workshop March 16


The Vermont Law School is hosting a free workshop about intellectual property law at 12:30 p.m. March 16.

Learn the differences between copyright, patent, trademark and trade secret.

The speaker is Oliver Goodenough who has taught intellectual property at Vermont Law School, Dartmouth College, and the University of Vermont. He is also involved in an emerging business, serving on the board and as an officer of a company applying artificial intelligence approaches to questions of law and finance.

The workshop is part of Community Navigator, which offers free technical assistance to businesses and organizations impacted by COVID-19 trying to adapt to new practices, retrofit their physical spaces and access new technology.

To register, visit here.