Covid 19 - Resources for small businesses

[FB19087]

Economic Injury Disaster Loans and Loan Advance


To apply for a COVID-19 Economic Injury Disaster Loan, click here.
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

COVID-19 ECONOMIC INJURY DISASTER LOAN

COVID-19 Economic Injury Disaster Loan | U.S. Small Business Administration

covid19relief.sba.gov

Paycheck Protection Program

Paycheck Protection Program

An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

www.sba.gov

other SBA programs:

COVID-19 guidance & resources

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www.sba.gov

State Unemployment Agencies (You may qualify for unemployment benefits now):
https://mikeysboard.com/threads/covid-19-resources-for-small-businesses.294932/post-4693339


Edit: State emergency/bridge loans (as I find them):

Florida

COVID-19 Resources for Florida Employers & Individuals

In coordination with state and federal partners, resources are available to assist employers and individuals impacted by the state’s efforts to mitigate the spread of COVID-19.

floridadisasterloan.org

 

[FB19087]

Please post any other helpful resources that may be available ....national or state


political and off topic post will be deleted

 

[FB19087]

The CARES ACT that just passed may allow you to collect unemployment (not available yet). Here is a list of unemployment agencies by state:

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
D.C.
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming

 

[hogjowl]

Super simple (seemingly) application process.

 

[Lyman]

On youtube _ jj the cpa covers this topic very well.

 

[Jim Williams]

Super simple (seemingly) application process.

I just pulled up the application, it said "Time to fill out application is 2 hours and ten minutes." Only the government could come up with an application that long.

Oh well. We all have a few months to kill so what's 2 hours? Just don't let it interfere with naptime.

 

[hogjowl]

It took me about 20 minutes
I kept thinking I must have screwed up, but I got a case number, so I’m waiting to see what transpires.

 

[tracywalker]

Is this the loan that if you qualify, and do not layoff employees the loan is forgiven?

 

[Donwand]

Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

I can not find anything that says the loan doesn't have to be repaid. All I see is that it is a low-interest loan. Can you possibly send me a link to where you found that info?

 

[Old Coastie]

Done. If approved I’ll apply it towards business debt.

 

[hogjowl]

Supposedly

 

[Old Coastie]

Super simple (seemingly) application process.

Need help, then?

 

[hogjowl]

You’re a horrible person

 

[tracywalker]

I can not find anything that says the loan doesn't have to be repaid. All I see is that it is a low-interest loan. Can you possibly send me a link to where you found that info?

Click the 2nd link Fred posted. I just read it. Says up to 10k and you don't have to repay.

 

[FB19087]

I can not find anything that says the loan doesn't have to be repaid. All I see is that it is a low-interest loan. Can you possibly send me a link to where you found that info?

Please do your due diligence with any of these.

That is a quote from this page:

Disaster assistance | U.S. Small Business Administration

www.sba.gov

 

[Lyman]

Please read what I had stated. There are two different loans, sba and ppp which if you follow all the hoops you don't have to pay back.

 

[Jim Williams]

I saw some fine print that said you don't have to pay back the part that you use for business expenses, payroll etc.. So what I'm wondering is as a sole proprietor, if I pay myself is that forgivable?

I also saw something about debt relief that would cover our van and TM payment for 6 months but it wasn't clear about how to get that.

 

[hogjowl]

Don’t ask us
We only pretend to know

 

[Lyman]

I talked to my accountant( thru a window), she said to apply for the eidl. 10,000 if you get it, you don't have to pay it back if you use it for business expenses.

 

[Papa John]

I just pulled up the application, it said "Time to fill out application is 2 hours and ten minutes." Only the government could come up with an application that long.

Oh well. We all have a few months to kill so what's 2 hours? Just don't let it interfere with naptime.

it took 10 to 20 minutes.

 

[Jim Williams]

it took 10 to 20 minutes.

Yes, I applied. I'm not sure why they put that on there. Maybe somebody took 2 hours, beats me.

 

[Papa John]

Yes, I applied. I'm not sure why they put that on there. Maybe somebody took 2 hours, beats me.

I think they got the 2 hour idea when they had a DMV employee fill out the form.

 

[clean image]

looking into, i guess yoy can not let any employee's go or put them on unemployemnt ...

 

[FB19087]

looking into, i guess yoy can not let any employee's go or put them on unemployemnt ...

are you sure that isn't just the "Paycheck Protection Program" loan?

 

[clean image]

yea, I am not sure to be honest, thats what by freind at Stanley steamer said, and i read it again on the gov page. There's different ones.

 

[ronbeatty]

I just pulled up the application, it said "Time to fill out application is 2 hours and ten minutes." Only the government could come up with an application that long.

Oh well. We all have a few months to kill so what's 2 hours? Just don't let it interfere with naptime.

$5000.00 an hour is hard to do cleaning carpet, I found filling this out was much more enjoyable.

 

[Lee Stockwell]

Our money will soon lose most of its value.

Historically happens when printing presses run wild.

 

[Fabpro]

Why did the president just say this doesn't start until tomorrow 4/3?

 

[FB19087]

Why did the president just say this doesn't start until tomorrow 4/3?

I assume that is when they technically start but applications were being accepted.

In the case of the Economic Injury Disaster Loan the applications were for an advance of up to 10k to get money out quickly. Loan amounts for the actual program are up to 2 million (not subject to forgiveness/up to 4% interest/up to 30 years)

 

[Fabpro]

I assume that is when they technically start but applications were being accepted.

In the case of the Economic Injury Disaster Loan the applications were for an advance of up to 10k to get money out quickly. Loan amounts for the actual program are up to 2 million (not subject to forgiveness/up to 4% interest/up to 30 years)

Thanks. I had just applied before the president spoke