CORONAVIRUS EMERGENCY LOANS: Small Business Guide, Checklist and Information
Mar 28, 2020
We have compiled a few more resources for small business regarding the Paycheck Protection Program
Also see our Resources for Small Business Affected by COVID-19
This from Mark Cuban via his LinkedIn page:
"If you work in the Gig Economy, are a 1099 worker,a 1 person business, independent contractor , work for hire, self-employed, YOU ARE ELIGIBLE FOR A PAYROLL PROTECTION LOAN along with any business with less than 500 employees
I've talked to a ton of bankers and most expect that they will be ready to accept applications by Wednesday and fund the loans within 48 hours. Go to your banks website AND call your banker I'd you have one and ask about the government Payroll Protection Program
This is a completely different program that what you have seen from the sba. This is from the new legislation signed into law."
This PDF from the US Chamber of Commerce is pretty good at outlining the requirements:
Summarizing the Paycheck Protection Program:
Arent Fox LLP has a great summary of the Short-Term Working Capital Loans to Support Small Businesses and The Hospitality and Restaurant Sectors.
SBA Paycheck Protection Loan Program: