EDC Update for Local Small Businesses This update contains important information from Terry Bralley, president of the Davie County Economic Development Commission, for small businesses. The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Loan Guarantees Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses that maintain their payroll during this emergency. This also includes independent contractors and self-employed businesses. Download Your Guide Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis […]