PPP deadline is May 31; new loans only available through participating Community Financial Institutions 

New qualifying applications for the Paycheck Protection Program (PPP) are only being funded through a set-aside for Community Financial Institutions (CFIs).This includes Certified Development Companies (CDCs), Microlenders, Community Development Financial Institutions (CDFIs), and Minority Depository Institutions (MDIs) through May 31, 2021 or until funds are exhausted.

A list of eligible CFIs is available on the SBA website. Please note that not all institutions listed are currently participating in PPP. You can also contact your local district office for assistance.

Find eligible lenders

 

Funding still available for new or increased Economic Injury Disaster Loans (EIDL) 

Whether you have an existing COVID-19 Economic Injury Disaster Loan (EIDL) and want to apply for an increase; or are interested in applying for an initial COVID-19 EIDL, funding is available for loans up to $500,000. The deadline to apply is Dec. 31, 2021 or until funds are exhausted. 

The SBA also continues to receive and process applications for the Targeted EIDL Advance and Supplemental Targeted Advance.

For more information about all three of these programs, visit the EIDL page of the SBA website.

Details on EIDL

 

SBA continues to accept applications for the Shuttered Venue Operators Grant (SVOG)

Since the SVOG portal opened April 24, more than 12,000 applications have been submitted to the SBA. Interested applicants can receive application support from an SBA Resource Partner; and, can contact 1-800-659-2955 for technical assistance with the application portal.

Details about the program — including eligibly, video tutorials, and how to apply — are available on the SBA website.

More about SVOG

 

 

Connect with SBA Resource Partners for help moving your business forward.

Whether you need technical assistance to apply for funding or want a business adviser to help you devise a recovery plan, SBA Resource Partners provide businesses with the expertise needed to confidently move forward.

Find an adviser

 

 

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Article Source: https://content.govdelivery.com/accounts/USSBA/bulletins/2da0783