U.S. Small Business Association Funding Programs
The SBA works with lenders to provide loans to small businesses. The agency doesn’t lend money directly to small business owners. Instead, it sets guidelines for loans made by its partnering lenders, community development organizations, and micro-lending institutions
U.S. Small Business Association Paycheck Protection Program
We are currently offering stimulus relief funding under the Economic Security Act (Cares Act). No collateral or personal guaranty required. Lending is at a fixed 0.5% interest rate for two years and the SBA guaranty fee is waived
U.S. Department of Labor Disaster Unemployment Assistance (DUA)
Disaster Unemployment Assistance provides financial assistance to individuals whose employment or self-employment has been lost or interrupted as a direct result of a major disaster and who are not eligible for regular unemployment insurance benefits.
US Chamber of Commerce Coronavirus Emergency Loans Small Business Guide and Checklist
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.
U.S. Chamber of Commerce, Resources for Small Businesses
The coronavirus is causing financial difficulties for businesses across the U.S. Here are five resources that can help you navigate this difficult situation
CDC Environmental Cleaning and Disinfection Recommendations
Recommendations on the cleaning and disinfection of rooms or areas of those with suspected or with confirmed COVID-19 have visited. It is aimed at limiting the survival of novel coronavirus in key environments. These guidelines are focused on community, non-healthcare facilities (e.g., schools, institutions of higher education, offices, daycare centers, businesses, community centers) that do and do not house persons overnight.
CDC's Organization Checklist for Preparation
Community organizations are encouraged to prepare for the possibility of a coronavirus disease 2019 (COVID-19) outbreak in their communities. Use this checklist to protect the health of those you serve and staff in your care.
Families First Coronavirus Response Act
This bill responds to the coronavirus outbreak by providing paid sick leave and free coronavirus testing, expanding food assistance and unemployment benefits, and requiring employers to provide additional protections for health care workers.
IRS/Tax Filing Information
The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus. This page will be updated as new information is available. For other information about the COVID-19 virus, people should visit the Centers for Disease Control and Prevention (CDC) (https://www.coronavirus.gov) for health information. Other information about actions being taken by the U.S. government is available at https://www.usa.gov/coronavirus and in Spanish at https://gobierno.usa.gov/coronavirus. The Department of Treasury also has information available at https://home.treasury.gov/coronavirus.
Note: The Families First Coronavirus Response Act, signed into law on March 18, 2020, requires employers with 500 or fewer employees to grant FMLA leave and/or up to two weeks of paid sick leave for absences related to COVID-19.
Johns Hopkin's Center for Health Security Update
Johns Hopkins' Center for Health Security provides a variety of situation reports, fact sheets, and comprehensive documents updating the public on COVID-19.
Lender Match Platform
Lender Match is a free online referral tool that connects small businesses with participating SBA-approved lenders. Applicants will need to be prepared to provide: business plan, amount and use of fund information, credit history, financial projections, collateral, and industry experience.
McKinsey & Company COVID-19 Briefing - Impact on Businesses
McKinsey & Company compiled a comprehensive analysis on COVID-19 including impacts to businesses, available company actions to take, and dealing realistically with optimism regarding return of demand.
SBA Disaster Loan Assistance
The Small Business Administration's Disaster Loan Assistance Program helps businesses, private nonprofits, and startups through crises like COVID-19. Check first to ensure that the geographic location of your business is covered under the SBA Disaster Loan and then apply through the website.
SBA Paycheck Protection Program
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll
SBA Paycheck Protection Program Loan Forgiveness
The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. This loan has a maturity of 2 years and an interest rate of 1%.