Access to financing, including loans, investment capital, disaster assistance and Paycheck Protection Program funding, surety bonds and grants, in addition to technical services.
NOTE: Congress the week of 4/20 approved additional CARES Act relief. Included in the $500 billion bill is $310 billion to resume the Paycheck Protection Program, which approved all $349 billion of its initial funding in 12 days. The expansion includes carve outs for small financial institutions – $30 billion each for those with less than $10 billion in assets and those between $10 billion and $50 billion – as well as $30 billion each for rural businesses and minority- and women-owned businesses. An additional $60 billion will be used to refresh the Economic Injury Disaster Loan (EIDL) program and will include $10 billion for additional $10,000 grants. Finally, the bill provides $75 billion for hospitals and $25 billion for COVID-19 testing. More details here. VIDEO BELOW.
- SBA: Coronavirus (COVID-19) Small Business Guidance & Loan Resources
- Paycheck Protection Program Loan Forgiveness Application
- SBA SEARCH TOOL: Find Eligible PPP Lenders
- 5/19/2020 Paycheck Protection Program Frequently Asked Questions (FAQ)
- 5/4/20 Economic Injury Disaster Loans Available to Agriculture Businesses Impacted by COVID-19
- 5/12/20 Baker Tilly deck: PPP Loans: Return the Funds or Seek Forgiveness?
- Local Lenders Report Serving 1,500+ Businesses, Delivering More Than $260 million in PPP Round One
- U.S. Chamber of Commerce: SBA Paycheck Protection Program
- PDF: U.S. Senate Committee on Business and Entrepreneurship Small Business Owner’s Guide to the CARES Act
- [[ 5/15/20 WEBCAST RECORDING ]] U.S. Chamber of Commerce and Inc. Magazine: CARES Act legislation & small biz survival strategies
- [[ 4/24 WEBCAST RECORDING ]] U.S. Chamber of Commerce & Inc. Magazine: Specifics of PPP Round 2 and EIDL
- [[ 4/17 WEBCAST RECORDING ]] U.S. Chamber of Commerce & Inc. Magazine: The PPP Is Out of Money. It’s Time for Plan B.