COVID-19 Resources: Business or Municipal

Posts Tagged ‘SBA loans’

COVID-19 Update: New Information Regarding SBA’s Two Biggest Stimulus Programs

access_time Posted on: June 22nd, 2020

The U.S. Small Business Administration (SBA) has posted a significant quantity of new information over the past several days. In this article we will provide a basic overview of this new information with links to primary sources with more details and applications. We will begin with a review of the purpose of the SBA followed by updates on their two biggest stimulus programs for small businesses: the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP). Updates to these programs include reopening the EIDL and EIDL Advance portal, new PPP Interim Final Rules (IFRs), and the new EZ and revised full… read more »

COVID-19 Update: EIDL and Advance Program Reopened to All Eligible Applicants

access_time Posted on: June 16th, 2020

To meet the needs of small businesses and non-profits, the U.S. Small Business Administration (SBA) today reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible small businesses and nonprofits experiencing economic impacts due to COVID-19. SBA’s EIDL program provides low interest, long-term assistance for small businesses or non-profit organizations.  These loans help alleviate temporary loss of revenue and can be used to fund expenses, pay debt, and cover payroll and inventory.  The EIDL Advance offers up to $10,000 ($1,000 per employee) of emergency relief to businesses experiencing temporary difficulties, and these emergency funds do not need to be… read more »