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.
Funding Options
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
