Paycheck Protection Program
The SBA is offering loans of up to $10 million to eligible small businesses to protect small business workers. The loan can be forgiven if employees are on the payroll for eight weeks and the loan is used for payroll, rent, utilities, etc. Note that 75% of the loan must be used for payroll. Small businesses can apply for this loan via a federally insured institution, like a credit union.
Economic Injury Disaster Loan
This loan gives an influx of money to small businesses in an attempt to make up for lost revenue. The loan goes up to $10,000 with no requirement of repayment. Small businesses are eligible based on size or profitability. You can apply for the loan here.
Due to the overwhelming demand for loans, the SBA system crashed further gating access to loans but it is back up now.
Additionally, you can learn more about small business relief from the SBA.
Lastly, you can learn more about what we do here.