How to Apply for a Small Business Loan Through the Coronavirus Stimulus Package

Small businesses across the country have taken a big hit amid the coronavirus pandemic, as stay-at-home orders and social distancing guidelines have meant many have shut their doors, laid off employees or even ceased operations.

Several large companies and cities across the country are offering some respite to small businesses by launching grant programs to keep them afloat. The federal government also launched the Paycheck Protection Program, a $350 million fund for direct business loans as part of the $2 trillion Coronavirus Stimulus Package signed into law last month by President Trump.

Here, WWD breaks down the specifics of how to apply for the Paycheck Protection Program as a small business owner, including which businesses are eligible, where to apply and how to receive total loan forgiveness.The U.S. Small Business Administration’s web site states that those eligible for the Paycheck Protection Program are businesses with fewer than 500 employees.

Businesses can apply for the small business loan through any existing U.S. Small Business Administration lender or through any federally insured depository institution, federally insured credit union or Farm Credit System institution. Participating lenders vary by state, so be sure to check http://www.sba.gov/partners/lenders/microloan-program/list-lenders to find the nearest bank or participating financial institution to get started.

A business will owe more on a loan, if not the full amount, received through the program if it initiates layoffs or cuts employee pay.What Are People Shopping for During the Coronavirus Pandemic?

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Free Money For Small Business: Two Loans You May Not Have To Repay–That You Should Apply For NowYour small or medium-sized business is very likely eligible for direct assistance that Congress has just authorized. Author Micah Solomon draws out noted tax and business attorney Mark W. Schweighofer on the details of the CARES (Coronavirus Aid, Relief And Economic Security) Act. Naija how fa The CARESAct is a disaster of it's own. SBAgov is literally on a stand still with millions of applications, I was told by a representative it will be 4 - 8 weeks at least before a loan officer reviews an application. Our economy is on a verge of collapse in less than a month.
ソース: Forbes - 🏆 394. / 53 続きを読む »

6 Ways To Protect Your Business During The Coronavirus OutbreakTo protect your business and employees during the coronavirus pandemic, use these six strategies. 👍 Thank you for sharing this helpful post. It can really help protect businesses during this crisis.
ソース: Forbes - 🏆 394. / 53 続きを読む »