SBA Loans Coming to a Halt; Other Funding Opportunities

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The SBA Paycheck Protection Program and Economic Injury Disaster Loan program funds have been depleted as of April 16, 2020. We understand this is a tough time for your small business, and we are here to guide you to other resources available to you. 

Other funding opportunities include grants from the U.S. Chamber of Commerce. The U.S. Chamber knows that small businesses are the foundation of all communities and the economy. They started the Save Small Business Initiative to help smaller businesses with a little bit of funding help. The U.S. Chamber is offering a $5,000 grant to small businesses that employ 3-20 employees, are in an economically vulnerable community, and have been financially affected by COVID-19. The application will go live on Monday, April 20, 2020, at 12:00 p.m. PT. 

Visit the Save Small Business site to read frequently asked questions and to get notified on Monday when the application goes live.

Save Small Business Fund

 

The SBA has more funding opportunities to help your business, not just the EIDL and PPP programs. They might not have the same benefits as the loans offered through the CARES Act, but it is funding available at this time. We recommend talking with your SBA lender to see what other SBA loan is a better option for your business. For more questions on loans, join us on April 28, 2020, Judith Collins with the Small Business Development Center, will talk about other funding opportunities through SBA and other resources available to small businesses.

Join us on Tuesday, April 28 at 8 a.m.

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