Small businesses needing support have a number of options. In addition to traditional Small Business Association (SBA) funding programs, the CARES Act established several new temporary programs to address the needs of Small businesses during the COVID-19 outbreak.
Some of these include:
- Paycheck Protection Program
This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.
- EIDL Loan Advance
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
- SBA Express Bridge Loans
Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
- SBA Debt Relief
The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.
For more information go to: