January 13, 2023

What Small Businesses Are Eligible For SBA Loans?

If your business is impacted by COVD-19, you may be eligible for a Paycheck Protection Program loan through the U.S. Small Business Administration. The Paycheck Protection Program is designed to keep small businesses afloat while keeping employees on payroll and can be used for payroll and benefits costs, rent, utilities, and more. Who can apply? The following businesses impacted by COVID-19 may be eligible for a Paycheck Protection Program loan: * Small businesses that meet SBA’s size standards [https://www.sba.gov/sites/default/files/2019-08/SBA%20Table%20of%20Size%20Standards_Effective%20Aug%2019%2C%202019.pdf] * Business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of 500 employees, or those that meet the SBA industry size standard if more than 500 * Accommodations and Food Services Business that have more than one physical location and employs less than 500 per location * Sole proprietors, independent contractors, and self-employed persons'' For full loan information and eligibility requirements, head to sba.gov. [https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program] If you need assistance with your SBA loan application, our partner Bench is offering free online consultations. [https://bit.ly/3bu5WtJ]

If your business is impacted by COVD-19, you may be eligible for a PaycheckProtection Program loan through the U.S. Small Business Administration. ThePaycheck Protection Program is designed to keep small businesses afloat whilekeeping employees on payroll and can be used for payroll and benefits costs,rent, utilities, and more. Who can apply?The following businesses impacted by COVID-19 may be eligible for a PaycheckProtection Program loan: * Small businesses that meet SBA’s size standards [https://www.sba.gov/sites/default/files/2019-08/SBA%20Table%20of%20Size%20Standards_Effective%20Aug%2019%2C%202019.pdf] * Business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of 500 employees, or those that meet the SBA industry size standard if more than 500 * Accommodations and Food Services Business that have more than one physical location and employs less than 500 per location * Sole proprietors, independent contractors, and self-employed persons''For full loan information and eligibility requirements, head to sba.gov.[https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program] If you need assistance with your SBA loan application, our partner Bench isoffering free online consultations. [https://bit.ly/3bu5WtJ]