Algona Chamber of Commerce issued the following announcement on April 13
Information about SBA’s Economic Injury Disaster Loan (EIDL) program for the Coronavirus.
SBA Economic Injury Disaster Loan and Advance
- SBA has a new, streamlined online loan application with no filing requirement to provide tax returns, financial statements, etc. – one application which includes the EIDL loan and an EIDL Advance.
- To apply online for an EIDL loan go to: https://covid19relief.sba.gov/.
- Small businesses may request an Advance of $1,000 per employee, up to $10,000.
- The EIDL Advance does not have to be repaid.
- There is no cost to apply and no obligation to accept an approved loan.
- A local Small Business Development Center counselor may be able to help – to find one, visit: https://www.sba.gov/local-assistance.
- To check the status of your loan application or Advance, call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov.
- SBA is presently processing millions of loan applications – there may be delays at our Customer Service Center – please be patient, don’t give up – keep trying to get through.
- Note: My office cannot check your loan status or help with questions about completing the application – please contact SBA’s Customer Service Center.
Businesses may visit an approved SBA 7a local lender to access the Paycheck Protection Program (PPP). Find a local PPP lender here: https://www.sba.gov/paycheckprotection/find.
A local Small Business Development Center counselor may be able to help – to find one, visit: https://www.sba.gov/local-assistance.
Note: My disaster assistance office is not part of the Paycheck Protection Program – please contact your local bank or go to https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp.
Original source can be found here.
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