SBA Loans – Provided by Forest Resources Association Government Affairs
The stimulus package passed by the Senate on March 26 included an expansion of the Small Business Administration (SBA) loans. Eligibility for SBA loans includes businesses that are less than 500 employees which include sole proprietors, contractors, and other self-employed individuals. Covered loans include payroll costs, costs related to certain group health benefits, and employee salaries.
The SBA is currently taking applications from businesses that are impacted by the COVID-19 pandemic.
To find out if you qualify for the SBA Loans click here.
You can begin the process to file a loan application with the SBA here.
Process guide on how to apply for loans can be found here.
Additional information on the SBA response can be found here.
Additional guidance on the SBA loans will be available in the coming weeks. If you feel your business qualifies for an SBA loan under the stimulus legislation, we encourage you to apply now, as distribution of funds may be allocated on a first come, first served basis.