COVID-19 has presented unforeseen circumstances and financial hardships for many small businesses. The SBA has released a few options in order to help these small businesses survive during this pandemic. The four primary COVID-19 relief options are as follows:
Paycheck Protection Program (PPP)
EIDL Loan Advance
SBA Express Bridge Loan
SBA Debt Relief
To learn more about these programs visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options.
The SBA offers loans to small businesses to start or expand their business with loans guaranteed by the Small Business Administration. The agency doesn't lend money directly to small business owners, rather, they establish guidelines for loans made by partnering lenders, community development organizations, and micro-lending institutions.
Benefits of an SBA loan are as follows: competitive terms, counseling and education, and unique benefits.
To learn more about SBA loans and to find a lender visit https://www.sba.gov/funding-programs/loans
AltCap exists to increase the flow of capital to communities and businesses not adequately served by mainstream financial institutions. Whether it is through the New Markets Tax Credit (NMTC) Program, small business and microloans, or other alternative capital, AltCap is committed to delivering accessible financing to support job-creating small business investments and catalytic, community-focused real estate development projects.
To learn more about AltCap's funding opportunities visit https://www.alt-cap.org/