EIDL applicants should expect to received a call from an SBA representative about your application. You should keep a copy of your application number handy and ask the caller to certify that number before providing any personal information.

[Wet Blanket Warning!] We are getting word that the “up to $10,000 loan advance” is tied to employee count. Businesses with one or two employees should not expect a large sum.

[2020-04-03 15:20] PPP Update

Contrary to Fed statements earlier in the week, financial institutions are non ready to take Paycheck Protection Program applications today, April 3rd. Our guidance is to:

Contact your financial institution.
Find out whether they are participating.
If they are…

Ask them to inform you when the application process is up and running.

If they are not…

Locate an institution who will be participating, AND…
…will accept applications from businesses who are not yet clients.
Ask them to inform you when the application process is up and running.

Once everything is up and running, you will likely need to fill out another application through the bank or credit union’s website.

[2020-03-30 12:45] CARES Act Basics

The CARES Act provides additional support for businesses. Here are a few:

Paycheck Protection Program is a forgivable loan program for up to 8 weeks or employee expenses.
$10,000 grant available by applying for the Economic Injury Disaster Loan (EIDL) program.
Expansion of EIDL to include non-profits. We are still determining what limits (if any) there may be.
More info here!

General Business Resiliency Resources:

SBA’s Emergency Preparedness Page

Restore Your Economy – Best Practices for Disaster Preparedness and Recovery

The U.S. Chamber Foundation’s “Resilience in a Box” program

Business Continuity Tool and Tips from the Department of Homeland Security

Emergency Preparation by FEMA

IRS Videos on Disaster Assistance, Reconstructing Records after a Disaster, Disaster Loss Deductions and more

American Red Cross – Business Readiness Self Assessment