SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Alabama residents. More details on the loan provided at the top of the page. For more info please visit https://www.sba.gov/funding-programs/disaster-assistance

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Alabama Office of the Governor

Resources for Alabama Businesses and Nonprofits. For more information, please visit their website.

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Alaska residents. More details on the loan provided at the top of the page. For more info please visit https://www.sba.gov/funding-programs/disaster-assistance

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Alaska Department of Commerce, Community, and Economic Development

For more information on state loans available, please visit their website.

WaFd Bank

The WaFd Bank is offering a revolving five year line of credit. Approval is subject to annual revenue and the maximum available is $200,000. Please contact your local branch for more information.

Requirements:

• Businesses who have a 10% or greater drop in revenue

To apply visit, https://www.wafdbank.com/business-banking/coronavirus-business-line-of-credit

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Federal loan available to Arizona residents. More details on the loan provided at the top of the page. For more info please visit

https://www.sba.gov/funding-programs/disaster-assistance

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Arkansas residents. More details on the loan provided at the top of the page. For more info please visit https://www.sba.gov/funding-programs/disaster-assistance

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website.

 Arkansas Quick Action Loan Program

The Quick Allocation Closing Fund allocation will prioritize companies that are in the supply chain of essential goods and services, including healthcare, food manufacturers, and logistics. The allocation from the Attorney General will support small businesses. The program includes both loan guaranties and direct lending to businesses.

Loan information:

• AEDC will guaranty up to 80% of the principal balance of a loan issued by a lender participating in the program
• The amount of AEDC’s guaranty is capped at $250,000
• Loans are at zero interest and may be amortized for up to two years
• Loans issued directly to borrower by AEDC
• Borrower must demonstrate that it has been adversely impacted by the health emergency
• Proceeds may be used for working capital, inventory, payroll, and other uses that facilitate the continuation of business operations
• Borrower will be subject to the lender’s customary underwriting and collateral requirements
• Loan amount may be amortized for up to 5 years
• Initial payments may be deferred for up to 90 days at the option of borrower and lender
• Payments may be deferred for up to 6 months following closing on the loan
• Borrower and participating lender must sign loan guaranty agreements with AEDC, which will include job retention requirements for the borrower.

Requirements:

• Borrower must demonstrate to AEDC that it has no other satisfactory financing options available to it through commercial lending or through other government programs such as the SBA Economic Injury Disaster Loan Program
• Borrower must demonstrate that it has been adversely impacted by the health emergency
• Borrower must satisfy AEDC’s financial underwriting requirements
• Borrower must agree to job retention requirements

There does not appear to be an online application. Applicants should contact via email at COVID19.businessinfo@arkansasedc.com or by phone at 501-682-1121 or toll-free: 1-800-ARKANSAS

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Federal loan available to California residents. More details on the loan provided at the top of the page. For more info please visit https://www.sba.gov/funding-programs/disaster-assistance

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website.

 California Disaster Relief Loan Guarantee Program-COVID-19

Loans up to $20 million with a max guarantee of $1 million for up to 7 years with guarantees up to 95% of the loan. Interest rates negotiated between lender and borrower.

Requirements

• Small businesses located in CA with 1-750 employees
• Eligible non-profits

If you are interested in applying, contact one of the lenders at https://www.ibank.ca.gov/publications/fdc/

Jump Start Loan Program

For businesses who expects to use the loan proceeds in California. Loans start at $500 and range up to$10,000 with terms up to  five years full amortized

Requirement

• Small businesses or individuals who are becoming small businesses who are located in CA can apply
• Borrowers must be a low wealth entrepreneur with a business located in a in a declared disaster area… or
• Borrowers must be a low wealth entrepreneur located in a low-wealth community within both:
• A county with a per capital income equal to or less than 115-percent of the statewide average
• A city or unincorporated area with an unemployment rate equal to or greater than the statewide average
• Borrowers annual income must be equal to or less than the statewide average

If you are interested in applying you may visit any of the following sites:

https://cacapital.org/

https://www.calcoastal.org/

https://nor-calfdc.org/

https://www.pcrcorp.org/

Farm Loan Program:

Loans up to $1,399,000 for small farms in the state of California.

Requirements:

• Must be a US citizen
• Acceptable credit history
• Capacity to incur the loan obligations
• Not be delinquent on Federal debt
• Farm must be located in CA
• Obtain loan without a guarantee
• Be the owner or tenant operator of a family farm after the loan is closed

If you would like to apply then please visit  https://www.calcoastal.org/  or https://www.vsbdc.com/

South County EDC’s Emergency Business Loan Program:

South County Economic Development Council (South County EDC) has established a no-interest loan to restaurants residing in South County to help provide some economic relief  during COVID-19. This loan will assist small restaurants to remain open and continue to provide meals during this national emergency. South County EDC is providing a one-time $5,000 no-interest loan with repayment due on April 1, 2021.

For more information or if you wish to apply, please visit their website.

San Francisco Office of Economic and Workforce Development

City sponsored loan program. For more information visit, https://oewd.org/resources-businesses-and-employees-impacted-covid-19

County of Los Angeles COVID-19 Information for Businesses

County sponsored loan program. For more information visit, https://covid19.lacounty.gov/covid19/consumers-businesses/for-businesses/

Los Angeles City Small Business Emergency Microloan Program

City sponsored loan program. For more information visit, https://ewddlacity.com/index.php/microloan-program

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Colorado residents. More details on the loan provided at the top of the page. For more info please visit https://www.sba.gov/funding-programs/disaster-assistance

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Connecticut  residents. More details on the loan provided at the top of the page. For more info please visit CT 16335 – SBA Offers Disaster Assistance to Connecticut Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Federal loan available to Delaware residents. More details on the loan provided at the top of the page. For more info please visit DE 16342 – SBA Offers Disaster Assistance to Delaware Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Delaware Hospitality Emergency Loan Program

Loan Information:

• No interest loans up to $10,000 per business per month to help cover immediate costs for the hospitality industry
• Businesses with less than $1.5 million in annual revenue and have been in business and operating for at least 12 months
• 10 year terms with deferred payments for 9 months
• Can be used for wide range of expenses other than payroll costs
• Have to operate in one of the four-digit NAICS codes:
  • 7225 Restaurants and Other Eating Places
  • 7224 Drinking Places (Alcoholic Beverages)
  • 7223 Special Food Services
  • 7211 Traveler Accommodations
  • 7139 Other Amusement and Recreation
  • 7131 Amusement Parks & Arcades
  • 7121 Museums and Historical Sites
  • 7113 Promoters of Performing Arts
  • 7112 Spectator Sports
  • 7111 Performing Arts Companies
  • 4879 Scenic and Sightseeing Transportation, Other
  • 4872 Scenic and Sightseeing Transportation, Water
  • 4871 Scenic and Sightseeing Transportation, Land
  • 3121 Beverage Manufacturing
  • 3118 Bakeries and Tortilla Manufacturing

If you are interested in applying, here is the online application

Eligibility requirements:

• Proof business in operation for over 12 months
• Income statement showing the business has no more than $1.5 million annual revenue
• Including proof the business has been current for the least 80 percent of payments over past 12 months and not past due in the month prior to the current month for which the business is applying for relief (proof of payments or a letter to the entity for which the money is due)
• Copy of billing statements or invoices for unavoidable expenses to support amount of funding request
• Proof of payment over the past 12 months for expenses for which funding is requested. This may be in the form of an account statement or letter from the relevant vendor/creditor
• Financial statements for most recent year completed
• Copy of Delaware business license.

Once you fill out the application make sure to submit it along with requested documents to business_finance@delaware.gov

For more information, please  visit https://business.delaware.gov/coronavirus/

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Federal loan available to District of Columbia residents. More details on the loan provided at the top of the page. For more info, please visit their website. 

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Federal loan available to Florida residents. More details on the loan provided at the top of the page. For more info please visit FL 16353 – SBA Offers Disaster Assistance to Florida Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Florida Emergency Bridge Loan Program:

Loans up to $50,000 per eligible small business (special cases loans up to $100,000) One year loan term with no interest during that period (if there is a balance after 1 year – 12% per annual interest rate will then apply). Only one loan per eligible businesses. All businesses in all counties in Florida are eligible.

Requirements:

• Business must have been established prior to March 9,  2020
• Have between 2-100 employees
• Business must have experienced economic injury as a result of COVID-19
• If there is a default, normal collections will apply
• Business must be for-profit, privately held business that maintains a place of business in the state of Florida

Non-eligible businesses:

• Businesses deriving more than one-third of gross annual revenue from legal gambling activities
• Businesses engaged in any illegal activity
• Businesses that present live performances of an indecent sexual nature or derive directly or indirectly more 2.5% of gross revenue through the sale of products or services, or the presentation of any depictions or displays, of an indecent sexual nature
• Businesses that have a primary purpose of facilitating polyamorous relationships
• Massage parlors
• Hot tub facilities
• Escort services.

Loan Requirements:

• Loans will be made to individuals who, individually or collectively, own at least 51% of the equity of the business.
• A borrower will be required to sign an agreement that the proceeds of the loan will be used only for purposes of maintaining or restarting the business in the designated area. Use of proceeds to pay off debts already incurred for qualifying business maintenance or restart purposes may be authorized on a case-by-case basis
• A borrower will be required to certify that the proceeds of insurance claims, other loans applied for or to be applied for, or other financial assistance will be used to repay the loan.

To apply, visit https://floridadisasterloan.org/a/w/wp-content/uploads/2020/03/20200316-COVID-19-Florida-Emergency-Bridge-Loan-Application.pdf

Deadline for application is May 8th, 2020

Documents needed to apply:

• Government Issues ID
• Federal Business tax returns for last 2 completed years
• Employer tax documentation
• Personal tax returns for last 2 completed years with Schedule C
• Additional Information applicant believes is important for the Loan Review Committee to review

For further questions please visit http://floridasbdc.org/locations/

For questions on how to apply, here is a step by step Florida loan guideline

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Georgia residents. More details on the loan provided at the top of the page. For more info please visit GA 16347 – SBA Offers Disaster Assistance to Georgia Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Georgia Resources for Small Businesses

For more information, please visit their website.

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Hawaii residents. More details on the loan provided at the top of the page. For more info please visit HI 16369-01 SBA Offers Disaster Assistance to Hawaii Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

WaFd Bank

The WaFd Bank is offering a revolving five year line of credit. Approval is subject to annual revenue and the maximum available is $200,000. Please contact your local branch for more information.

Requirements:

• Businesses who have a 10% or greater drop in revenue

To apply visit, https://www.wafdbank.com/business-banking/coronavirus-business-line-of-credit

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Federal loan available to Idaho residents. More details on the loan provided at the top of the page. For more info please visit ID 16379-01 SBA Offers Disaster Assistance to Idaho Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL)

Only federal loan available to Illinois residents. More details on the loan provided at the top of the page. For more info please visit IL 16370 – SBA Offers Disaster Assistance to Illinois Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website.

 Emergency Small Business Grants and Loans Program

Illinois Small Business Emergency Loan Fund

Program Overview: DCEO and the Illinois Department of Financial and Professional Regulation (IDFPR) are establishing the Illinois Small Business Emergency Loan Fund to offer small businesses low interest loans of up to $50,000. Businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 will be eligible to apply. Successful applicants will owe nothing for six months and will then begin making fixed payments at a below market interest rate for the remainder of a five-year loan term.

Application is not available yet, interested applicants are required to fill out the interest form.

Downstate Small Business Stabilization Program

DCEO is repurposing $20 million in CDBG funds to stand up the Downstate Small Business Stabilization Program.  This Fund will offer small businesses of up to 50 employees the opportunity to partner with their local governments to obtain grants of up to $25,000 in working capital.  These grants will be offered on a rolling basis.

Eligibility requirements:

Local governments can apply on behalf of businesses with 50 employees or less. Only units of local government recognized by the Illinois Constitution and able to support economic development activities on a sufficient scale are eligible to apply for Economic Development grant funding.  This includes cities, villages, and counties.  Municipalities must not be a HUD direct Entitlement community or be located in an urban county that receives “entitlement” funds.  A map of eligible areas of the state can be accessed here, see “Staff Contact Information.”

For those interested in applying, you can submit an online application. Please note, only businesses in the eligible areas should work with their local governments to submit.

City of Chicago: Chicago Small Business Resiliency Fund

City sponsored loan program. Application is now live. For more information, please visit https://www.connect2capital.com/partners/chicago-small-business-resiliency-fund/

SBA Economic Injury Disaster Loan (EIDL) 

Only federal loan available to Indiana residents. More details on the loan provided at the top of the page. For more info please visit IN 16348 – SBA Offers Disaster Assistance to Indiana Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Indiana Resources for Small Businesses

For more information, please visit their website.

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Iowa residents. More details on the loan provided at the top of the page. For more info please visit IA 16382-01 SBA Offers Disaster Assistance to Iowa Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Kansas residents. More details on the loan provided at the top of the page. For more info please visit https://www.kctv5.com/coronavirus/small-business-administration-approves-kansas-and-missouri-s-requests-for/article_40da2762-6bb8-11ea-bb33-a78f83540f7e.html 

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Kansas HIRE Fund – Hospitality Industry Relief Emergency Fund

HIRE has already allocated the initial amount of funds but is still taking applications to survey the need of small businesses across the state.

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Kentucky residents. More details on the loan provided at the top of the page. For more info please visit KY 16377 – SBA Offers Disaster Assistance to Kentucky Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Louisiana Loan Portfolio Guaranty Program:

For-Profit small businesses domiciled in Louisiana which employ less than 100 employees, and have been impacted by COVID-19 are eligible to apply. An applicant must reach out directly to a lender to apply. Loan amounts up to $100,000 with terms of 1-5 years.

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Louisiana residents. More details on the loan provided at the top of the page. For more info please visit LA 16351-01 SBA Offers Disaster Assistance to Louisiana Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Federal loan available to Maine residents. More details on the loan provided at the top of the page. For more info please visit  ME 16334 – SBA Offers Disaster Assistance to Maine Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Finance Authority of Maine (FAME) COVID-19 Loan Programs

COVID-19 Relief Interim SBA Finance Loan Program

The COVID-19 Relief Interim SBA Finance Loan Program provides FAME Direct Loans of up to $100,000 with special terms available to eligible borrowers who provide proof of commitment for SBA financing. Eligible borrowers will provide proof of commitment for SBA financing with the intention the FAME loan would be originated for use to business owner until such time as SBA loan is funded. The SBA loan would then pay-off the FAME loan.

Loan information:

• Must already have a SBA approved loan that you are waiting on
• Up to $100,000; despite the SBA (COVID-19) limit being $2 million, FAME will only fund up to $100,000 of the loan

Eligibility Requirements:

• Business must be Maine based
• Provide proof of commitment for SBA financing for COVID-19

Loan Terms:

• Interest rate is Wall Street Journal Prime minus 1%, fixed at loan commitment
• Default Rate is Wall Street Journal Prime plus 2%
• 90-day term note
• Payments are interest only
• Security:
  • Business assets are required
  • Pledge of Receipt of SBA loan funds paid directly to FAME
• Personal guarantees of the business principals
• Fees: 1% commitment fee unless loan defaults then commitment fee charged and advanced onto loan

If you would like to apply please visit https://www.famemaine.com/wp-content/uploads/2015/06/FAME_DirectLoan-W.pdf

Here are the required documents to apply:

1. 1. Application
   2. Copy of your SBA commitment for financing

Once you apply email the completed application package to business@FAMEmaine.com

Please note, if approved, FAME will fund the loan in as little as 48 business hours

COVID-19 RELIEF BUSINESS DIRECT LOAN PROGRAM

The COVID-19 Relief Business Direct Loan Program provides FAME Direct Loans of up to $50,000 with special terms available to Maine-based businesses experiencing interruption or hardship due to COVID-19. These special terms are available only on applications submitted via the FAME Direct Loan Program on or after March 20, 2020. Eligible borrowers with complete applications will have their applications reviewed and approved in an expedited manner.

Loan information:

Provides FAME Direct Loans of up to $50,000 with special terms

Eligibility Requirements:

• Maine based business experiencing interruption or hardship due to COVID-19
• Demonstrate that other sources of capital have been exhausted

Loan Terms:

• 12 month term which can be extended
• Business assets are required
• Personal guarantees of the business principals

Fees:

• closing fees may be financed with the loan proceeds
• Commitment fee is 0.5% (reduced from 1%)

If you would like to apply, here is the application

For employment plan for employers with 10 or more employees, please visit https://www.famemaine.com/wp-content/uploads/2016/02/EmploymentPlan-W.pdf

For personal financial statement, please visit https://www.famemaine.com/wp-content/uploads/2016/02/PersonalFinancialStatement-W.pdf

Required documents:

• Application
• Employment plan for employers with 10 or more employees
• Personal Financial Statement
• Statement of how COVID-19 has affected your finances and business operations

Once the application is completed, please email completed application package to business@FAMEmaine.com.

The email must include:

• FAME Direct Loan Application
• Employment Plan (employers with 10 or more employees)
• Personal Financial Statements
• Statement of how COVID-19 has affected your finances and business operations

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Maryland residents. More details on the loan provided at the top of the page. For more info please visit MD 16376 – SBA Offers Disaster Assistance to Maryland Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website.

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Massachusetts residents. More details on the loan provided at the top of the page. For more info please visit MA 16344 – SBA Offers Disaster Assistance to Massachusetts Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Michigan residents. More details on the loan provided at the top of the page. For more info please visit

MI 16356 – SBA Offers Disaster Assistance to Michigan Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Michigan Resources for Small Businesses

For more information, please visit their website.

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Minnesota residents. More details on the loan provided at the top of the page. For more info please visit

MN 16365 – SBA Offers Disaster Assistance to Minnesota Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website.

Minnesota Small Business Loan Guarantee Program

Loan program for Minnesota businesses with fewer than the equivalent of 250 employees. The program will provide an 80% guarantee up to a maximum of $200,000. A fee of .25 percent on the guarantee loan principal will be charged for each loan enrolled into the program.

All loans will be made by lenders enrolled in the program – no loans will come directly from DEED.

Minnesota Employment and Economic Development Small Business Emergency Loans

Loan program to assist Minnesota small businesses directly and adversely affected by the COVID-19 pandemic. Loans will range from $2,500 to $35,000 and will be based on the firm’s economic injury and the financial need

Eligibility: Only certain business are eligible to apply. Please review the list to see if your business is eligible: https://mn.gov/deed/business/financing-business/deed-programs/peacetime/

Loan Terms:

• Interest free
• Must be paid back monthly over five (5) years and the first payment will be deferred six (6) months
• Partial forgiveness may be available
• Loans are only for Minnesota-based businesses

Application: You will need to complete an initial application and then submit it to one of the approved lenders listed on the website.

• Initial Application: https://mn.gov/deed/assets/sbelp-application_tcm1045-424405.pdf
• Approved lenders: https://mn.gov/deed/business/financing-business/deed-programs/peacetime/

Minnesota Resources for Small Businesses

For more information, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Mississippi residents. More details on the loan provided at the top of the page. For more info please visit

MS 16362 – SBA Offers Disaster Assistance to Mississippi Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to Missouri residents. More details on the loan provided at the top of the page. For more info please visit

MO 16387-01 SBA Offers Disaster Assistance to Missouri Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website. 

Any business that is affected by COVID-19, has less than 500 employees and was in operation before February 1, 2020, is eligible to apply

Your business may receive a loan for up $2million. The amount of the loan will depend on certain factors (i.e. loss in revenue, payroll costs, rent payments, etc.)

For-profit companies: 3.75%  and for non-profit companies: 2.75%

The loan terms are up to 30 years.

You may use the loan proceeds for: payroll costs, salaries, sick leave, to pay rent or mortgage payments, mate rial costs, pre-existing debt.

There are no personal guarantees for loans $200,000 or less. There is a personal guarantee for loans >$200,000

No collateral is required for loans $25,000 or less. Collateral is required for loans greater than $25,000; however, there is no specific collateral required. A blanket UCC- 1 will be filed against all of the business collateral.

The SBA may approve an applicant based solely on the credit score and shall not require an applicant to submit a tax return or a tax return transcript for approval or the SBA may use alternate appropriate methods to determine applicant’s ability to repay the loan.