If you're on any end of a business spectrum, small or large, employer or employee, chances are you've experienced difficulties at some level from COVID-19 (Coronavirus).
Many have faced reduced operations, lay-offs, and terrifying uncertainty particularly with the unpredictable lifespan of this pandemic. While businesses worldwide have gone above and beyond to help others in need it's not without sacrifice and needing help themselves. Many businesses cannot operate remotely, especially those who work hard in the field everyday.
The government has offered low-interest loans for these businesses to help make it through this difficult time. Complete the application here if you're a business owner or homeowner/sole proprietor and need economic relief. (Assistance for physical damage is also available).
For economic relief apply:
1.) As a small business owner for up to $2 million for economic/physical financial assistance.
2.) A loan officer will discuss with you what information and/or additional documents they will need to review your application. Determinations are typically made within 2-3 weeks, although an excess of applications during this pandemic may cause delays.
3.) After approval and your signature on the closing documents loan disbursements are typically made within 5 business days with the initial deposit equaling $25,000 of working capital. A case worker will be assigned to you to help ensure all loan requirements are maintained and to assist in scheduling all remaining loan disbursements.
For additional loan instructions click here.