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
The following three documents are updates to the Payroll Protection Program (As of 4/17/2020)
NOTE: PPP Applications must be in AND APPROVED by the SBA prior to 6/30/2020
- SBA Press Release
- SBA Facts Sheet
- PPP Aplication (updated 4/3/20)
- PPP Borrowers Application (Revised) (6/11/20)
- PPP Lenders Application Loan Guarantee (Revised) (6/11/20)
- PPP Interim Rules (updated 4/3/20)
- PPP Final Rules (updated 4/5/20)
- Interim-Final Rule Additional Eligabliity Rules (4(17/2020)
- PPP - First Intermin Final Rule (revised) (6/11/20)
- PPP Loan Calculations (5/3/20))
- PPP Loan Forgiveness Calculator (From AICPA) Note: This calculator is one of 4 identified on the AICPA site and is current through May 15 guidance)
- PPP - SBA Loan Review Procedures and related Borrower & Lender Responsiblities (5/26/2020)
- PPP - IFR Loan Forgiveness (5/26/2020)
- PPP Loan Forgiveness Application (revised) 6/17/20)
- PPP Loan Forgiveness Application Instructions (6/17/20)
- PPP Loan Forgiveness Application 3508EZ (6/17/20)
- PPP Loan Forgivenss Applicaiton 3508EZ Instructions (6/17/20)
- PPP IFR 3 & 6 Revisions 6-16-2020 (6/22/2020)
- PPP IFR Revisions to Loan Forgiveness interim Rules & SBA Loan Review Procedure 6-16-2020 (6/22/2020)
- SBA News Release -Final Lender Match Relaunch (6/22/2020)
- Interim Final Rule - Appeals of SBA Loan Review Decisions Under the PPP (Released 8/11/20)
- Frequently Asked Questions – FAQs # 50 and #51 have been added (Released 8/11/20)
- Frequently Asked Questions For Loan Forgiveness (Released 8/11/20)
- Summary of PPP lending as of 8/8/20 (Released 8/11/20)
Q&A for Faith Based Nonprofits regard CARES Act Coverage
Table of Small Business Size Standards Matched to North American InduPPP FAQ (5/13/2020) stry Classification System Codes:
Lenders participating in the PPP Loan program (for small businesses that don't have a current local banking relationship)
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.