On March 29, 2020, Congress and the President of the United States enacted an unprecedented relief package (The CARES Act) in response to COVID-19 and the Coronavirus impact on small business owners across the country.
Who is Eligible for a COVID-19 Economic Injury Disaster Loan With the SBA?
In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak.
Paycheck Protection Program
EIDL Loan Advance
SBA Express Bridge Loans
SBA Debt Relief
This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.