- James Ridout
COVID-19 Business Crisis - Available Programs you should know about.
All the information of the available options can be found here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options
Economic Injury Disaster Loan Emergency Advance
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. This option should be used by almost every business. It is a loan of up to $10,000, that does NOT need to be repaid. More details here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance
Paycheck Protection Program
An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. This is a loan that most businesses, or Independent Contractors should apply.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
Full details here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp
Other programs to know about:
SBA Debt Relief: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief
SBA Express Bridge Loans: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans
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