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)?

EIDL Loan Usage Requirements (6/4/20)

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 

CARES Act Section Summary (3/28/2020)

 

The following three documents are updates to the Payroll Protection Program (As of 4/17/2020)

Q&A for Faith Based Nonprofits regard CARES Act Coverage

SBA Faith Based FAQ

Table of Small Business Size Standards Matched to North American InduPPP FAQ (5/13/2020) stry Classification System Codes: 

SBA Table of Size Standards_Effective Aug 19, 2019_Rev.pdf

Lenders participating in the PPP Loan program (for small businesses that don't have a current local banking relationship)

Lender Organization

Lender Contact

Telephone

Email

   

 

         

PayPal

Greg Buckley

302-374-7003

grbuckley@paypal.com

   

Intuit

   

https://quickbooks.intuit.com/small-business/coronavirus/paycheck-protection-program/

Square

   

https://squareup.com/help/us/en/article/6844-square-payroll-paycheck-protection-program-ppp

Funding Circle

   

https://www.fundingcircle.com/us/resources/how-does-paycheck-protection-program-work/

Blue Vine

   

https://www.bluevine.com/paycheck-protection-program/

 

requently Asked Questions concerning:

  • Economic Injury Disaster Loan
  • 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

 

The SBA is currently conducting daily online updates at 10:30 AM using ZOOM...Meeting ID is 679 477 2946

 

Do not hesitate to contact your mentor for more information.