Coronavirus (COVID-19): Small Business Guidance & Loan Resources
Coronavirus relief options
SBA offers several different relief options to help businesses, nonprofits, and faith-based organizations recover from the impacts of COVID-19. You can view all options or skip to a specific program below.
1. Find a lender:
2. Identify a PPP loan type:
- First Draw PPP Loans: If you have not received a PPP loan before, First Draw PPP Loans are available to you.
- Second Draw PPP Loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP Loan.
SBA is also currently offering the following funding options:
- Express Bridge loans
- SBA debt relief (for existing borrowers)
SBA is preparing to offer:
SBA is contacting eligible businesses regarding:
SBA previously offered the following funding options:
- EIDL Advance (No longer available)
Biden Administration takes steps to promote equitable access to SBA relief
On Monday, February 22, President Biden announced the following changes to SBA's coronavirus relief programs to ensure equity:
- Allow sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants;
- Eliminate an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal;
- Eliminate PPP access restrictions on small business owners who have struggled to make student loan payments by eliminating student loan debt delinquency as a disqualifier to participating in the PPP; and
- Ensure access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP.
A critical goal from Congress for the latest round of PPP was to reach small and low- and moderate-income (LMI) businesses who have not received the needed relief a forgivable PPP loan provides. Congress set a $15B set-aside for small and LMI first draw borrowers. With existing policies, the current round has only deployed $2.4B to small LMI borrowers, in part because a disproportionate amount of funding in both wealthy and LMI areas is going to firms with more than 20 employees. The less than 20 exclusivity period combined with the changes to expand access for sole proprietors, ITINs, returning citizens, and student loan debt will help us achieve Congressional goals.
Guidance for businesses and employers
From the White House:
From the CDC:
- Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19)
- Preventing Stigma Related to COVID-19
- Share Facts about COVID-19
- Information on Coronavirus Disease 2019 (COVID-19) Prevention, Symptoms and FAQ
From the SBA:
SBA offers additional guidance for businesses, nonprofits, and faith-based organizations. Learn more at our Recovery Hub: