RELIEF FOR BUSINESSES

The Small Business Administration (SBA) offers many loan options to business owners.  There are new loan products available through the SBA following the passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES).

Given these products are evolving and the banks are working to understand the exact requirements, we encourage you to contact your representative at your commercial lending office you primarily do business with. The application process for SBA loans begins with your representative at your commercial bank, who facilitates the process with the SBA.  

Visit the link below for resources on SBA loan products, including eligibility, terms and more: 

• Small Business Guidance and Loan Resources

Highlighted Below IS the Most Popular SBA Loan

SBA Traditional 7A Loans

• New money for recovery purposes, unrelated to COVID-19
• Interest rate is subject to SBA market rates.
• There is no loan forgiveness component to this loan type.
   

Additional Resources

We have linked the resources below from government agencies regarding these loan opportunities. Simply click the link to access the listed document.

• Small Business Owners' Guide to the CARES Act with helpful, frequently asked questions regarding the EIDL and PPP Loans.
• A Small Business Guide and Checklist from the US Chamber of Commerce.
• CARES Act Fact Sheet from the US Treasury
• CARES Act Overview from the US Treasury

As additional information becomes available on these topics we will continue to update the content on this page for your reference.