COVID-19 Business Relief Resources – UPDATED

The SBA-funded Paycheck Protection Program has run out of money, at least for now. Applications might still be accepted by your lender but additional funding will have to await action by Congress.

Small businesses including sole proprietors and single-member owned companies should explore federal assistance under the CARES Act and through the Small Business Administration. The Paycheck Protection Program (PPP) administered by the SBA and funded through your business lender offers forgivable loans to help you make payroll and cover critical expenses. The Economic Injury Disaster Loan (EIDL) Emergency Advance may pay you up to $10,000 of economic relief that will not have to be repaid. Apply for these programs online. For more details and instructions, see these links.

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options

https://home.treasury.gov/system/files/136/PPP–Fact-Sheet.pdf