COVID-19 Radio Stimulus (Important: PLEASE READ)
In the midst of this Coronavirus Pandemic it is crucial for you to take full advantage of the COVID-19 government stimulus plan for small businesses (CARES Act). This plan will allow you to continue to pay yourself and your employees to help get you past the government shutdown. This is a $376 billion dollar program for small businesses with under 500 employees. The first step is for you to contact you State Association of Broadcasters to give you some helpful advice. They are having a webinar this Thursday, April 9 at 2pm ET to show you easy steps to get your funds to you as quickly as possible. *You must sign up to this to receive your link to watch.
The next step you will need to take is to go to the Small Business Administration website and apply for your funds. We recommend that you mobilize a team to complete this process www.sba.gov. You can also double check your steps with your local SBA.
There's a good possibility that more relief will be on the way to further help you weather this storm. In talking with the NAB, they tell us that they are working day and night with Congress as they work on an additional COVID-19 stimulus package. This additional plan should include provisions that help bring immediate liquidity to struggling local radio stations that are needed more than ever. The NAB wants to make sure small and medium market broadcasters can access forgivable SBA loans and tax breaks to the expansion of broadcasters' eligibility for relief. The NAB also hopes to see Congress send advertising dollars to broadcasters for programs needing community outreach, such as the Census, drug and opioid abuse prevention, and election information. DO NOT delay taking advantage of this stimulus plan. It is on a first come, first serve basis.
The NAB has established pages at its website to inform you about what relief you can get from the CARES Act stimulus. www.nab.org