SBA Loans and CARE Act
SBDC daily webinar for small businesses related to loan information
Starting Tuesday, 3/31, the SBDC will be having a daily 3pm webinar to help small businesses with all the changing legislation and loan information related to COVID-19. The webinars will be 30-40 minutes in length with time for Q&A at the end. They will be recorded and everyone will be sent the recording after the webinar.
Daily 3pm Zoom Webinar Registration: https://fullerton.zoom.us/webinar/register/WN_B21fFxU7RNKYtIpBp0UgNQ
They are also taking calls at 1-800-616-7232 on all issues related to COVID-19 loans including Economic Injury Disaster Loan (EIDL) and the upcoming Payroll Protection loans (PPP) from the CARES act. Our updated Resource Guide is also available in the link below.
COVID-19 Resource Guide for Small Business: https://ociesmallbusiness.org/resource/covid-19/
Economic Injury Disaster Loans and Loan Advance
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
Economic Injury Disaster Loans are also available to residents in declared disaster areas. To view the full list of disaster declarations, click here.