COVID-19 DISASTER LOANS and PPP LOANS

SBA ECONOMIC INJURY DISASTER LOAN
You can start the application process here: https://covid19relief.sba.gov/

This new application system specifically allows companies to request the $10,000 forgivable loan/grant as well as the full disaster loan. This funding is available to all companies and most non-profits, regardless of their ability to qualify for the actual disaster loan.

You will need your gross income and your cost of goods sold, if applicable, for the 12 month period February 1, 2019 through January 31, 2020.

PAYCHECK PROTECTION PROGRAM (PARTIALLY FORGIVABLE LOAN)

The Treasury Department has released fact sheets for small business lenders and small business borrowers interested in accessing the $349 billion Paycheck Protection Program (PPP) that was enacted last week as part of the $2.3 trillion economic stimulus bill.

4/6/2020 Update:  Information about the Paycheck Protection Program can be found here.  

  1. Link to the SBA PPP website – https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp

 

  1. Link to Treasury PPP website – https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses