I was able to talk with the Small Business Administration (SBA) about the recently updated Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL). These programs provide cash flow to help businesses retain employees and cover expenses during the uncertain times caused by the coronavirus pandemic. Even if your business is in good shape financially, it may be worth applying as a safety net. The terms are quite favorable. In fact, PPP loans are forgivable as long as you meet the guidelines, which seem quite manageable.
To learn more about these programs or to submit an application, visit https://sba.gov
