COVID-19 RESOURCES FOR BUSINESS
Federal Unemployment Aid Coming to Georgians Not Eligible for State Benefits
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This is a great document for a safe working environment.
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Paycheck Protection Program:
This program is available through the SBA with a cap of $10 million per applicant. The maximum loan amount is determined by taking a company’s average monthly payroll cost multiplied by 2.5. The application deadline is June 30, and it is available to most small businesses. The money must be used to support payroll, rent, utilities and some other costs. If used as directed there is 100% forgiveness of the funds.
https://www.sba.gov/…/coron…/paycheck-protection-program-ppp
This program is available through the SBA with a cap of $10 million per applicant. The maximum loan amount is determined by taking a company’s average monthly payroll cost multiplied by 2.5. The application deadline is June 30, and it is available to most small businesses. The money must be used to support payroll, rent, utilities and some other costs. If used as directed there is 100% forgiveness of the funds.
https://www.sba.gov/…/coron…/paycheck-protection-program-ppp
Economic Injury Disaster Loan:
This program provides economic relief so businesses have the immediate capital to support operations. The application deadline is December 31, and it is available to most small business and nonprofit organizations. The maximum loan from this program is $2 million per applicant. Businesses can apply for an immediate grant for relief up to $10,000. This money does not have to be paid back; however, it would be considered in the forgiveness part of the PPP program.
https://www.sba.gov/…/economic-injury-disaster-loan-emergen…
This program provides economic relief so businesses have the immediate capital to support operations. The application deadline is December 31, and it is available to most small business and nonprofit organizations. The maximum loan from this program is $2 million per applicant. Businesses can apply for an immediate grant for relief up to $10,000. This money does not have to be paid back; however, it would be considered in the forgiveness part of the PPP program.
https://www.sba.gov/…/economic-injury-disaster-loan-emergen…
SBA Express Bridge Loans
SBA has issued an order that allows express lenders to make bridge loans up to $25K with a very quick turnaround.
https://www.sba.gov/…/coronavirus-…/sba-express-bridge-loans
SBA has issued an order that allows express lenders to make bridge loans up to $25K with a very quick turnaround.
https://www.sba.gov/…/coronavirus-…/sba-express-bridge-loans
SBDC Resources and Recommendations:
We recommend that you contact lenders that hold any of your existing debt to inquire if they have any forgiveness or deferment programs in place.
Visit https://www.georgiasbdc.org/ to view regional webinars, resources and the SBA loan comparison chart.
We recommend that you contact lenders that hold any of your existing debt to inquire if they have any forgiveness or deferment programs in place.
Visit https://www.georgiasbdc.org/ to view regional webinars, resources and the SBA loan comparison chart.