Our nation's small businesses are facing an unprecedented economic disruption due to the COVID-19 outbreak. On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses.
In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak.
Paycheck Protection Program
This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program. lean more here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
EIDL Loan Advance
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. Learn more here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance
SBA Express Bridge Loans
Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. Learn more here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans link
SBA Debt Relief
The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic. Learn more here https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief
Need more information on small business funding options? Click here https://www.sba.gov/funding-programs/loans/coronavirus-relief-options