SBA Programs Update

by | Apr 3, 2020

Earlier this week, we shared that the Small Business Administration (“SBA”) will begin accepting Paycheck Protection Program loan applications starting tomorrow, April 3, 2020, for small businesses and sole proprietorships. The applications can be submitted through existing SBA lenders. Next Friday, April 10, 2020, independent contractors and self-employed individuals can apply for the loans.

The SBA offers specific Coronavirus relief programs: Paycheck Protection Program, EIDL Loan Advance, SBA Express Bridge Loans, and SBA Debt Relief. For more information regarding these programs, please see the SBA Business Owner Guide

We are committed to assisting our clients through the loan process, and we will provide updates as more information becomes available. Please contact Len Gambino (312-648-2300; leonard.gambino@sfnr.com) or Joan Berg (312-775-3624; joan.berg@sfnr.com) with any questions you may have.