Skip to main content . You only need to fill out one of these applications. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy. Amid the economic havoc wrought by COVID-19, many New Jersey small businesses are grabbing lifelines from the federal Small Business Administration (SBA) and local banks. Why has my business been impacted so much and am I alone? Payroll costs include the following costs for all part and full time employees:Salary, wages, commissions, tips or similar compensation (capped at $100,000 on an annualized basis for each employee);Payment of vacation, parental, family, medical, or sick leave; 2. For reference we have included a generic Application SBA Form for PPP loans here. (They are now staffed 24/7, and have added a chat feature. The “SBA” is offering grants just for small businesses affected by the coronavirus outbreak. Payments required for the provisions of group health care benefits including insurance premiums; Payment of employer paid state and local taxes assessed on compensation; For a sole proprietor or independent contractor wages, commissions, income, or net earnings from self-employment, capped at $100,000 on an annualized basis for each employee count as payroll. Welcome to the official federal resource website for U.S. small businesses affected by COVID-19 (Coronavirus). How Long Does Coronavirus Live Outside the Body. PO Box 94708, Seattle, WA, 98124-4708 Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov. How to run your business virtually right now, Business planning to adapt to a world with COVID-19. OED is providing FREE technical assistance to small businesses and non-profits who would like to understand more about PPP and EIDL. You cannot apply for EIDL Loans through SBA.com®. Prepare the following information before you apply: The deadline to apply for an Economic Injury Disaster Loan is September 30, 2020. Individual lenders will have their own application process and required documents. Find ways to contact us by phone and email along with other avenues to guiding you through our services. SBA To Provide Small Businesses Impacted by Coronavirus (COVID-19) Up to $2 Million in Disaster Assistance Loans News provided by U.S. Small Business Administration ZenBusiness is a public benefit corporation, and core to our mission is to provide support to our community of customers and their small businesses. You may also experience a wait time while connecting to an interpreter. Discover tips for safer gatherings and ideas for alternative ways to celebrate. Dear SBA Customers, Vendors and Friends, We are all living through challenging and unprecedented times. Clients using a relay service: 1-866-821-9126. Coronavirus (COVID-19): Relief options and Additional Resources. EIDL loan assistance can be used to cover payroll and inventory, pay debt, or fund other expenses. Individuals will need to provide a social security number, home address, telephone number, email address, banks name, address, account number and routing number for direct deposit, your employer’s name, address and phone number, first and last day worked, reason for leaving, and any pension or severance package information. Clients using a TDD/TTY device: 1-800-539-8336. These have been created as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards. For more information, please visit SBA. Your average monthly payroll is required information for the application. This time period, known as the Covered Period, has been extended from eight weeks to 24 weeks. Basic Overview: The SBA 7(B) EIDL Loans are low-interest, fixed-rate loans available to all businesses and private non-profits who show an economic impact as a result of disasters like COVID-19. The Economic Injury Disaster Loan (EIDL) is once again open to small businesses, unfortunately the loan advance of $1K,per employee up to $10K is no longer available. The new number to call the VDLOC for assistance is (800) 659-2955. Loans issued after June 5 have a maturity of 5 years. If you have questions about this application or problems providing the required information, please contact our Customer Service Center at 1-800-659-2955 or (TTY: 1-800-877-8339) … It's important to note there have been a few other changes to the program that have added significant flexibility. OED provides technical assistance to businesses applying for SBA loans and understanding the CARES Act (Coronavirus Aids, Relief & Security). Menu. You can only apply for EIDL loans through SBA.gov. COVID-19 Update. This is the deadline that lenders have to secure a loan number from the SBA. 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. Loan payments will be deferred for six months. At ZenBusiness, we’re working hard to support our customers during this difficult time. This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. America’s banks were among the … Input your search keywords and press Enter. We surveyed our customers, spoke with people going through this crisis, and performed extensive research on how people are adapting to a new world. If you reach the voicemail, please tell us: If you need language assistance, either a bilingual staff member will call you back, or we will call in a third-party interpreter on the phone to assist with the conversation. Click here to review our Privacy Policy to learn how we use these cookies. The SBA will pay the principal and interest of current 7(a) loans for a period of six months. DISASTER LOANS INFO. This page is purely informational. Alternative funding options may be available. Questions? Document Delivery Options. The Small Business Administration's EIDL program offers long-term, low interest assistance for small businesses and non-profits affected by COVID-19. Can I fire myself and collect unemployment? If a small business has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan. Call us at: 888-KEY4BIZ (539-4249). Search the loans approved by lenders and disclosed by the Small Business Administration (SBA). From that information, we've created the resources below to answer questions and equip small businesses to take on this time of uncertainty. Courtesy of Yeo & Yeo Many people are struggling to make ends meet during the COVID-19 pandemic. December 21, 2020. SBA Express Bridge Loans; The Main Street Business Lending Program ; Traditional SBA Loans (not related to COVID-19) How to get help locally; Non-government grant options. Coronavirus.gov: Information for the public from the Coronavirus (COVID-19) Task Force at the White House; Coronavirus Disease 2019 (COVID-19): The latest public health and safety information from the Centers for Disease Control and Prevention. This includes helping businesses navigate the application process and documentation. Preferred for personal liability protection, Complex entity with increased protections, Prevents others from registering your name, Review our customizable formation options, Manages all state and legal correspondence, IRS Tax ID used to identify your business, Outlines the rules that govern your business, Files your required report with the state, Use our templates to easily build a website, Side-by-side comparison of price & features. Address: The Small Business Administration has announced $50 billion in Economic Injury Disaster Loans will be available to small businesses due to Coronavirus.. Not all businesses will qualify for the SBA Disaster Relief program. These loans are not provided directly by SBA, but through an approved lender. For more information about PPP loans: See the SBA website for more information. For additional information, please contact the SBA disaster assistance customer service center. SBA Paycheck Protection Program Loan: Get up-to-date information. To help those suffering substantial economic injury due to the spread of COVID-19, Congress authorized SBA to offer up to $2 million in assistance per small business, with the option to obtain a $10,000 advance that would be disbursed within three days. Take the following steps to calculate your average monthly payroll: 1. Businesses have a longer time period to spend loan proceeds. Health and government officials are working together to maintain the safety, security, and health of the American people. Phone: (206) 684-8090 helpful phone numbers and emails for businesses to reach out to for additional information. There are several companies taking the initiative to provide grants to small businesses during COVID-19. The problems at the SBA reflect the struggles taking place throughout the federal government connected to oversight of the trillions of dollars of COVID … The mission of the Office of Economic Development (OED) is to help create healthy businesses, thriving neighborhoods, and community organizations to contribute to a robust economy that will benefit all Seattle residents and future generations. The Small Business Resource Center for COVID-19. Please note that many people are calling us for help, so expect long wait times. In accordance with health precautions for the Coronavirus (COVID-19), the SBA will not establish a field presence to assist survivors. In order to support our customers, ZenBusiness created a grant program and distributed $1,000 grants to a selection of small businesses that applied through the first half of 2020. Now, loans will be fully forgiven provided that businesses spend 60% of the loan amount (or more) on payroll and up to 40% on other approved expenses. You can also get this number from your IRS 941 Employer's Quarterly Federal Tax Return form line 5E. Update 7/20:The Paycheck Protection Program (PPP) has reopened and will be extended to August 8. These loans are available in amounts up to $150,000 dollars, but the amount a business will qualify for is dependent on the degree of economic injury sustained. read updates about the program and grant winners. Call 1-800-659-2955 | TTY/TDD: 1-800-877-8339 Monday - Sunday, 8 a.m. - 8 p.m. PPP loans will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities. Business Guide. If you have an existing loan with SBA, under the SBA Debt Relief program: The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020. Calculate the total annual payroll prior to COVID-19. Add these costs to calculate total payroll for the year. For portions of the loan that are not forgiven, it becomes a 5 year loan at 1% (previously 2 year loan). The Basics for Running Your Business Virtually, Marketing Online During the Coronavirus Crisis, Additional Online Resources for Small Businesses, Look to China for a case study in how long a recovery might take, Pivoting from an offline to an online business. At least 60% of the forgiven amount must have been used for payroll. helpful phone numbers and emails for businesses to reach out to for additional information. The SBA helps small businesses get SBA loans by guaranteeing them up to a certain percentage. This includes helping businesses navigate the application process and documentation. We appreciate your interest in the SBA. If a borrower is unable to rehire previously employed individuals or similarly qualified employees, the borrower will not have its loan forgiveness amount reduced based on the reduction in full-time equivalent employees. 3. When you call you may reach a live person or a voicemail. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Resources & Guidance for Businesses and Workers Impacted by COVID-19, Taageerada Sharciga Kireynta Guryaha ee COVID-19, Apoyo Legal COVID-19 para Contratos de Arrendamiento, Hỗ Trợ Pháp Lý Hợp Đồng Thuê Trong Thời Gian Dịch COVID-19, Outdoor Permitting for Resturants, Food Trucks and Carts, and Retail Stores, IKHTIYAARADA RUQSADA BANAANKA EE AT-A-GLANCE, Un Vistazo A Los Tipos De Permisos Para Los Negocios Al Aire Libre, MADALIANG GABAY SA PAGBIBIGAY NG PANLABAS NA PERMIT, TÓM TẮT VỀ CÁC PHƯƠNG ÁN CẤP PHÉP SỬ DỤNG KHÔNG GIAN NGOÀI TRỜI, Return to Work Information for Small Business Employers Impacted by COVID-19, በ COVID-19 ለተጎዱ አነስተኛ ንግድ አሠሪዎች ወደ ሥራ መመለስ መረጃ, COVID-19 영향을 받은 중소 기업 고용주를 위한 업무 복귀 관련 정보, Ku Noqo Macluumaadka Shaqada ee Loo-shaqeeyayaasha Ganacsiga Yar Yar ah ee ay Saamaysay COVID-19, Información para Empleadores de Pequeños Negocios Afectados por COVID-19 Sobre Como Regresar al Trabajo, Thông Tin Trở Lại Làm Việc Cho Chủ Doanh Nghiệp Nhỏ Bị Ảnh Hưởng Bởi COVID-19, Small Business Stabilization Fund Application, Small Business Stabilization Fund Frequently Asked Questions, Legacy Business Program Frequently Asked Questions, Small Business Tenant Improvement Fund Pilot, Frequently Asked Questions for Food Businesses, Prepared and Secured—Tips for keeping your business safe, Only in Seattle Frequently Asked Questions, 2020 Career Connected Learning Grants Awardees, Add Your Business to the Shop Your Block Map, Mayor's Youth Employment Initiative Partners 2017, Discover tips for safer gatherings and ideas for alternative ways to celebrate, Click here to search for a nearby approved SBA lender, 700 5th Ave, Suite 5752, Seattle, WA, 98104, Businesses now have 24 weeks (previously 8 weeks) to spend at least 60% (previously 75%) of the loan amount on qualified payroll expenses(or business income if you are sole prop or independent contractor). Alyssa Parks doesn’t own a grocery store, even though the U.S. government thinks so. Federal Contracting. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. For information on the status of your EIDL or PPP loan, contact SBA Office of Disaster Assistance directly at 1-800-659-2955 (TTY: 1-800-877-8339) or email disastercustomerservice@sba.gov. Access the Carson City Chamber of Commerce’s COVID-19 resource page: Forgot your password? Breaking down the $2 trillion; How much money am I eligible to … 700 5th Ave, Suite 5752, Seattle, WA, 98104 How much money am I eligible to receive as a small business owner? Click here to search for a nearby approved SBA lender. List of SBA office locations Coronavirus (COVID-19): Relief options and Additional Resources ... Coronavirus (COVID-19): Relief options and Additional Resources. Details are available in the instructions to the new EZ application form. If you have an existing business loan through SBA, The SBA Debt Relief program provides a reprieve to small businesses as they overcome the challenges created by this health crisis. There are several companies taking the initiative to provide grants to small businesses during COVID-19. Created with Sketch. As we continue to monitor the COVID-19 outbreak and adjust our business practices to the circumstances, our customers, vendors, team members, and members of our community remain our highest priority. The interest rate is 3.75% for small businesses and 2.75% for non-profits. The the EIDL loan can both be accessed through the SBA Disaster loan Assistance site. OED provides technical assistance to businesses applying for SBA loans and understanding the CARES Act (Coronavirus Aids, Relief & Security). ), The Paycheck Protection Program (PPP) offers up to $10 million in forgivable loans to small businesses to pay their employees and other expenses during the COVID-19 crisis. Small business owners and qualified agricultural businesses in all U.S. states and territories are currently eligible to apply. OED's programs are designed to: attract, welcome, and retain companies in traditional and emerging industries by promoting the advantages of doing business in Seattle, and providing one-on-one assistance to businesses; strengthen neighborhood business districts and support community-based economic development across Seattle, with special emphasis on low-income communities; assist large employers and small businesses to retain and grow Seattle's base of businesses and family-wage jobs; increase apprenticeship and training opportunities to ensure that Seattle will have skilled workers capable of meeting the region's current and future work force needs; and improve customer satisfaction for businesses accessing City services. Access the Carson City Chamber of Commerce’s COVID-19 resource page: Gross revenue for Feb 1 2019 - Jan 31 2020, Cost of goods sold for Feb 1 2019 - Jan 31 2020. SBA Lenders to the Rescue Banks deliver financial assistance backed by US Small Business Administration guarantees. Learn more about the ZenBusiness COVID-19 Grant Program. The declaration covers Hennepin County and the adjacent counties of Anoka, Carver, Dakota, Ramsey, Scott, Sherburne and Wright in Minnesota. For general inquiries, please email OED@seattle.gov or call 206-684-8090. These loans can help small businesses meet financial obligations and cover operating expenses. Divide by 12 to get the average monthly payroll. Add up total in line 5E from previous four quarters before crisis, and divide by 12 to get average monthly payroll. CARES Act explained. Loans issued prior to June 5 have a maturity of 2 years. How do my employees file for unemployment? Below is key information to help you prepare for PPP application. No collateral or personal guarantees are required. Small business owners in all U.S. states, Washington D.C., and territories may be eligible to apply for an Economic Injury Disaster Loan (EIDL) of up to $2,000,000 because of the COVID-19 disaster. All loans have an interest rate of 1%. Small Business Administration (SBA) Coronavirus (COVID-19) Guidance & Loan Resources The SBA offers a range of programs for emergency loan assistance and guidance for employers. By Ron Marsico, Contributing Writer On Dec 9, 2020. Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. Mailing Address: Applications are currently closed, but you can. To apply for SBA COVID-19 EIDLs, click here. Here are four funding options from SBA to help you overcome the economic disruption due to the COVID-19 outbreak: Businesses and non-profits that have been impacted by COVID-19 are now eligible to apply for low‑interest working capital loans through the U.S. Small Business Administration (SBA) Economic Injury Disaster Loans program. English አማርኛ 繁體中文 简体中文 한국어 Soomaali Español Tiếng Việt. An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. If you have questions about this, please call the lender that provided your SBA loan. For general inquiries, please email OED@seattle.gov or call 206-684-8090. Translate SBA en español For Partners Newsroom Contact Us Register Log In. The EZ application requires fewer calculations and less documentation for eligible borrowers. Be aware that Individual lenders will have their own deadlines for borrowers in advance of Aug 8. Additionally, the icons below link to a fact sheet and news release providing more information about the SBA Economic Injury Disaster Loan and application process. If you have already applied for EIDL, please note you can only check application status at SBA customer service at 1-800-659-2955 (TTY: 1-800-877-8339) or email  disastercustomerservice@sba.gov. Collecting data online is the best way to get your application data to the SBA. Applying for Unemployment under the CARES Act, Traditional SBA Loans (not related to COVID-19). As part of the Paycheck Protection Program, the federal government provided up to $659 billion in financial support to banks to make low-interest loans to companies and nonprofit organizations in response to the economic devastation caused by the coronavirus pandemic. How much money am I eligible to receive as an individual? Contact Us. Username or email. By Phone: 1-800-659-2955 (TTY/TDD: 1-800-877-8339 ) By Email: disastercustomerservice@sba.gov. Up to 40% (previously 25%) of the loan amount can be spent on non-payroll costs, specifically rent, utilities, mortgage interest related to business on obligations in place prior to 2/15/20. Access your SBA Economic Injury Disaster Loan Portal Account to review your application and track your loan status. SBA is now accepting new EIDL applications. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov. Phone Alt: (206) 684-0379 For more detailed information about forgiveness, see below under "What are the new PPP Loan forgiveness terms and how do I apply for loan forgiveness?". Fax: (206) 684-0379. There are now two applications for PPP loan forgiveness: the EZ Forgiveness Application and the Full Forgiveness Application. Applicants should also have the following documents available: Find out more about these important changes in this joint statement from SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven Mnuchin. Our website uses cookies to make browsing convenient for you. These funds are especially important to small businesses with small staffs since they can have greater non-payroll expenses. CLICK HERE . The percentage of funds that can be used for non-payroll expenses has been expanded. Fortunately, some individuals qualify for federal-income-tax-free disaster relief and disaster mitigation payments paid by […] Read More. If you have an SBA EIDL since Jan 31 2020, have your loan balance, Confirmation of ownership of the business on the business certificate of formation, Operating Agreement (for LLCs, not required if not available), By-laws (for corporations, not required if not available), North American Industry Classification System (NAICS) Code (. What is the CARES Act? Business Guide. What to do if you can’t pivot your business. Funding Programs.

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