COVID-19 Loan Resources
Businesses Can Get Loans to Retain Employees During COVID-19
As the coronavirus outbreak persists, small businesses and household employers face challenges unlike anything seen in recent history. Whether you’ve been forced to reduce staff, cease operations entirely, or are open but wondering what the next few months will bring, help is here.
Both the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid "Relief" and Economic Security (CARES) Act include financial relief for small businesses (some provisions are available to household
employers — note that Paycheck Protection Program loans are not) to help you stay open and retain employees during these trying times.
The SBA is no longer accepting PPP applications from most lenders. However, funding may remain for lenders designated as community financial institutions (CFI). CFIs include Community Development Financial Institutions, Minority Deposit Institutions, Certified Development Companies, and Microloan Intermediaries. You can contact your local SBA office to find a CFI near you.
[1] 1 Not available in RI, NV, ND, VT, and CA (Fundera Only). Clients in these states may connect directly with Biz2Credit, Fundera, and Lendio. In some cases, SurePayroll may receive compensation from an SBA-approved lender if you receive a PPP loan, subject to applicable laws.
