Resources for Small Business Owners During COVID-19

Many small business owners have found themselves struggling to make ends meet during the COVID-19 pandemic. State-mandated lockdowns and restrictions have greatly affected hours and revenue. Luckily, state and federal officials have worked together on numerous programs to help small business owners and their employees.

We have compiled a list of resources for small business owners who may be looking for more guidance on loans and paycheck protection options in the midst of the COVID-19 pandemic.

U.S. Small Business Administration

The U.S. Small Business Administration has complied a list of relief options offering guidance on Paycheck Protection Programs as well as loans available to small business owners. For more information on resources, visit their website here.

SBA is currently offering the following funding options:

Paycheck Protection Program (PPP):

First Draw PPP Loans

Second Draw PPP Loans

COVID-19 Economic Injury Disaster Loans (EIDL)

Express Bridge loans

SBA debt relief (for existing borrowers) is another useful resource wherein users can find listings and information on government loans that directly relate to COVID as well as regular business loans.

Visit the site here.

Economic Injury Disaster Loans

7(a) Small Business Loan

Certified Development Company (CDC) (504) Loan Program

Avoiding Scams and Fraud related to COVID-19

While there are several legitimate loans and resources for business owners during this time, fraud is still a threat. Please see the below resources to learn more on how to avoid scams related to small business loans and COVID-19 relief. If you believe you have encountered a fraudulent operation, you can report it to the Small Business Association here.

Don’t Become the Next Victim of a COVID-19 Scam

COVID-19 CARES Act: Beware the Risk of Fraud in Small Business Loans

Avoid Small Business Lending Scams and Fraud Related to COVID-19