The U.S Small Business Administration (SBA) is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority an Economic Injury Disaster Loan declaration.
Coronavirus (COVID-19): Small Business Guidance & Loan Resources. This link will take you to the SBA website page with general information concerning loans and workplace procedures, and guidance for Businesses and employers.
Options for Small Business Owners Affected by Coronavirus (COVID-19):
- SBA Loan Deferrals
- Economic Injury Disaster Loans (EIDL)
- SBA Express Bridge Loans
- Paycheck Protection Plan
- Counseling & Planning Assistance
More information in this comprehensive document: Coronavirus SBA Options for Businesses Assistance.pdf
How to apply for SBA Disaster Loans (EIDL)?
The following document is a summary of the CARES Act passed and signed by the President on 3/17/2020. Implementation instructions are currently being developed. :
Small Business Guide to the CARES Act (new) 3/28/2020
The following link is a detailed summary of each section of the CARES Act
The following three documents are updates to the Payroll Protection Program (4/1/2020)
- SBA Press Release
- SBA Facts Sheet
- PPP Aplication (updated 4/3/20)
- PPP Interim Rules (updated 4/3/20)
Table of Small Business Size Standards Matched to North American Industry Classification System Codes:
Frequently Asked Questions concerning:
- Economic Injury Disaster Loans.
- SBA’s Role to Provide Guidance and Assistance to Small Businesses Affected by Coronavirus.
- Disaster Declaration-related.
- Economic Injury Disaster Loan-related.
- Business Operations Continuity-related.
FAQ - SBA Disaster assistance for small Businesses: FINAL_INTERNAL FAQ_SBA Disaster Assistance for Small Businesses_03 20 20.pdf
SBA standard for qualification as small business.
The SBA is currently conducting daily online updates at 10:30 AM and 8:00 PM using ZOOM...Meeting ID is 679 477 2946
Do not hesitate to contact your mentor for more information.