COVID-19: Resources for Businesses
The federal government, banks and other organizations are working together to offer loans and other resources to businesses that have been impacted by COVID-19. Here is an overview to help you get started, and more information about how you can participate.
Government/Small Business Administration COVID-19 Loan and Relief Programs
- Small Business Administration (SBA) Economic Injury Disaster Loans (EIDL)
- Paycheck Protection Loan Program, as part of the recently signed CARES Act
- SBA Debt Relief Programs
- Tax Provisions
SBA Express Bridge Loans
Main Street Lending Program
This is a program through the Federal Reserve that is still being built out but should be released in the next few weeks. Here is a Bloomberg article on the preliminary background.
Organizations Assisting Loan Process
Given there are many small businesses who will be applying for loans, banks and SBA might be overloaded. There are several reputable organizations who exist to help small businesses during this time; the each offer different services
- Chamber of Commerce FAQ between EIDL and PPL
- Forbes article that lists several state loan options
- SBA Contact information 1-800-659-2955 (TTY: 1-800-877-8339) or by e-mail at email@example.com