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.

Programs Overview

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

Additional Information

• U.S. Senate Committee on Small Business and Entrepreneurship

Lending Resources

SBA Express Bridge Loans

• Program guide
• Find an Express Bridge Loan Lender by connecting with your local SBA district office

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

• SCORE
• Small Business Development Center

Additional Information

• 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 disastercustomerservice@sba.gov

Families First Coronavirus Response Act (FFCRA)

Overview

• Chamber of Commerce overview article
• U.S. Department of Labor FAQ