Federal COVID-19 Resources

Paycheck Protection Program

All lenders are eligible to submit applications for a 1st or 2nd Draw PPP loan. Deadline: March 31, 2021 if funding is still available Small businesses and eligible nonprofits may apply for their first PPP loan or, if they meet the criteria, a second PPP loan, if they have used all the funds from their first PPP loan.  This loan is forgivable if borrowers used the funds in the authorized manner and spend at least 60% of the loan proceeds on payroll costs and no more than 40% on authorized non-payroll costs.

For more information: Paycheck Protection Program

Economic Injury Disaster Loan Program

The EIDL program offers a working capital loan for small businesses and nonprofits adversely affected by COVID-19. Loans direct from SBA’s Office of Disaster Assistance are available with a 3.75% interest rate (2.75% for nonprofits) and 30-year term and payments are deferred for 12 months. The deadline to apply is December 31, 2021.

Targeted EIDL Advanced Grant

Newly created as part of the recent legislation, the Economic Aid Act, to provide businesses located in low-income communities with additional funds of up to $10,000 to ensure small business continuity, adaptation, and resiliency.

This grant is not open yet. For more information: COVID-19 Economic Injury Disaster Loans

Shuttered Venue Operators Grant

Visit the SVOG website for additional information on the types of entities eligible, how to calculate how much you may be eligible for under this grant program and the proposed plan for phased implementation.  You can also watch the webinar which provides an overview.

This grant is not open yet. For more information: Shuttered Venue Operators Grant