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Service Industry Consulting

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 We are here if you need help navigating the loan processes or finding emergency funding.
 

Paycheck Protection Program

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by  authorizing up to $349 billion toward job retention and certain other  expenses.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.Under this program:

  • Eligible recipients may qualify for a loan up to $10 million  determined by 8 weeks of prior average payroll plus an additional 25% of  that amount.
  • Loan payments will be deferred for six months.
  • If you maintain your workforce, SBA will forgive the portion of the  loan proceeds that are used to cover the first 8 weeks of payroll and  certain other expenses following loan origination.

Economic Injury Disaster Loans and Loan Advance

To apply for a COVID-19 Economic Injury Disaster Loan, click here.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.
 

SBA Express Bridge Loans

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 with less paperwork.  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.  If a small business has an urgent need for cash while waiting for  decision and disbursement on Economic Injury Disaster Loan, they may  qualify for an SBA Express Disaster Bridge Loan.

Terms

  • Up to $25,000
  • Fast turnaround
  • Will be repaid in full or in part by proceeds from the EIDL loan

Find an Express Bridge Loan Lender by connecting with your local SBA District Office.


 

COVID-19

COVID-19

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