COVID-19 Small Business Owner Resources

Disclaimer: The information provided does not capture all the nuances of the programs and resources. This is a general compilation of freely-provided information. Your situation may be different. This page and post does not constitute legal or financial advice. Please consult your attorney or financial adviser to determine if these programs are appropriate for your specific situation.

COVID-19 Small Business Owner Resources

The Small Business Owner’s Guide to the CARES Act (direct link)

SBA COVID-19 Economic Injury Disaster Loan Information (direct link)

  • General Info (Last Summary on this Website Updated: March 31, 2020)
    • Amount: Up to $2,000,000
    • Interest Rate: 3.75% (2.75% for non-profits)
    • Maturity: Case-by-case (based upon each borrower’s ability to repay), up to a maximum of 30 years
    • May be Used for: Fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
    • For more info, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail
    • Apply: (direct link)

SBA Paycheck Protection Program (direct link)

  • General Info (Last Summary on this Website Updated: March 31, 2020)
    • SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
    • The Paycheck Protection Program will be available through June 30, 2020.
    • 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.
    • 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.
    • Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
    • This loan has a maturity of 2 years and an interest rate of .5%.
    • Paycheck Protection Program (PPP) Sample Application Form (direct link)

SBA Local Resources

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