Updated 3/31/2020 at 5:15 p.m.
Assistance for Small Businesses
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
Good afternoon –
I’m writing with a quick update. Many people are already aware of this program from the SBA but just in case you are not, please see below. My understanding is that the program is on a first come, first served basis. You need sales from 2/1/19 – 1/31/2020, cost of goods sold and expenses during this same time period. A quick P&L is all it will take. With that data, the application will take you less than 5 minutes. If you need help, don’t hesitate to call me at 610-263-2772.
Copied from https://www.sba.gov/page/disaster-loan-applications
on 3/31/2020 at 1:35 p.m.
Economic Injury Disaster Loans and Loan Advance
To apply for a COVID-19 Economic Injury Disaster Loan, click here.
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
Economic Injury Disaster Loans are also available to residents in declared disaster areas. To view the full list of disaster declarations, click here.
To apply for a disaster loan unrelated to COVID-19, click here.