U.S. Small Business Administration
Paycheck Protection Program: This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.
- Helps businesses keep their workforce employed during crisis.
- Portions of these loans will be forgiven to the extent that recipients maintain their existing workforce or rehire.
- Loans can be up to $10 million and interest rates are maxed at 4% for portions of the loan that do not qualify for loan forgiveness.
- Available through June 30, 2020
SBA Economic Injury Disaster Loan & Grant Program: Businesses and nonprofits. Provides working capital loans of up to $2 million. Borrowers can request an emergency loan advance of up to $10,000 of economic relief. This loan advance will not have to be repaid.
Small businesses less than 500 employees, including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations are eligible.
Economic Injury Disaster Loan Programs
SBA Debt Relief Program: For those with current 7(a), 504 and microloans, SBA will automatically pay the principal, interest and fees for six months, as well as those issued prior to September 27, 2020.
U.S Senate | CARES Act
Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now.
U.S. Department of Labor
Families First Coronavirus Response Act: Understand paid sick leave etc. Protections and relief offered by the Emergency Paid Sick Leave Act and Emergency Family and Medical Leave Expansion Act, both part of the Families First Coronavirus Response Act (FFCRA)