We’re living through an unprecedented time in history with the COVID-19 pandemic coursing through the world.
Over the last several weeks I’ve been doing my best to gather resources on what I call survival funding develop at the state and national level. Below are my links to various things I’ve found helpful. I’ll keep this updated as things develop and I’m able.
It goes without saying but I’m not an expert. These are just resources I’ve found useful and am using for my business and sharing with affected clients. Also, keep in mind things are getting updated and clarified very quickly so these may not be 100% perfect.
A good overview of the available plans from the CARES Act for small business owners.
CARES Act Small Business Guide
Emergency Loan Details from the U.S. Chamber
U.S. Chamber Save Small Business Fund
Paycheck Protection Program – Funding Limit Reached Currently
This is the main feature of the CARES Act bill and it will be distributed through typical lenders. So contact your local bank you already have a relationship with. It’s forgivable when meeting several qualifications.
I would anticipate the money will go fast considering the widespread impact on businesses across all industries and the ease with which you can make a case that your business was impacted.
Lenders for PPP
If you don’t have a relationship with a local lender who can/will provide this then here’s a list of some I’ve found who are allowing online applications.
- U.S. Bank (Requiring to sign up for business checking account if not existing customer)
- First Home Bank
- Central Pacific Bank
- First Home Bank
- Regions Bank
EIDL + Grant – Appears to be out of money
This is the program from the SBA (Small Business Administration) with several facets to it and was expanded through the CARES Act passed by Congress. You can do both of the two programs but not for the same expenses.
More Info & Online Application >>
We’re located in Michigan and there’s a few programs for businesses in the state to take advantage of.
Programs for Small Businesses in Michigan
Dream Maker Fund – This is a great program but specific to our town of Jackson, Michigan.