covid-19 SBA funding options in 2021
The Coronavirus Aid, Relief and Economic Security (CARES) Act offers small business owners unprecedented financial assistance which may be ultimately the only lifeline available.
We’ve pulled together resources for small business owners asking how do PPP loans work. As congress passed additional legislation, an emergency Economic Injury Disaster Loan Program rolled out (twice). And most recently, the Restaurant Revitalization Funding was made available even to those who previously received money from the PPP Loan programs and the EIDL Grants and Loan programs.
The first resource is an Infographic that helps business owners determine if their business is eligible for the PPP Loan and if so, how much they can apply for. Click on the Infographic to the right and it will take you to an article that explains the PPP Loan program in more detail.
The second resource is an article written about how the SBA allocation of $349B was used up in less than two weeks.
The third resource is a post about the seven major changes introduced by the PPP Loan Flexibility Act to help business owners understand the newly updated loan forgiveness rules.
The fourth resource explores everything a business owner needs to know about selling or transferring ownership of a business with a PPP Loan.
Our fifth resource discusses an update to include Schedule C filers in PPP Loan Eligibility.
Our sixth resource covers the EIDL Loan Program. It’s had two rounds of funding and has been very helpful to businesses who need low-cost, long term funding.
Our seventh resource is an update to the EIDL program — known as Round 2. This change lifted the $150,000 loan cap, however is meant to only help businesses in designated low-income communities.
And our latest post covers the Restaurant Revitalization Funding program that is available to businesses that serve food and beverages onsite. It’s available to businesses that continue to suffer economically due to the pandemic shutdown.
As new SBA guidance is issued, we will update this page.
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