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SBA Coronavirus Small Business Financial Assistance Programs

For more complete information on these programs (and other assistance options), visit SBA’s Coronavirus (COVID-19): Small Business Guidance & Loan Resources page.

The following programs in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, each administered by the U.S. Small Business Administration, are intended to assist business owners in overcoming the challenges brought by the COVID-19 pandemic.

Paycheck Protection Program

The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.

Economic Injury Disaster Loans

(Information in other languages here)

SBA is currently accepting new Economic Injury Disaster Loan (EIDL) applications from all qualified small businesses, including agricultural businesses, and private nonprofit organizations.

If you need assistance with your EIDL application, make an appointment with a New York SBDC advisor.

Click here to learn more

Who Can Apply:

Small business owners and qualified agricultural businesses in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19).

Agricultural businesses with 500 or fewer employees are now eligible as a result of new authority granted by Congress in response to the COVID-19 pandemic.

Specifications:

To apply for a COVID-19 Economic Injury Disaster Loan, click here.

For additional information, read the “Frequently Asked Questions – COVID-19 Economic Injury Disaster Loans

If you need assistance with your EIDL application, make an appointment with a New York SBDC advisor.

Restaurant Revitalization Fund

Applications are now closed.

Shuttered Venue Operators Grant

The Shuttered Venue Operators Grant (SVOG) program offers grant funding to shuttered venues, and is being administered by SBA’s Office of Disaster Assistance. Eligible entities include:

Learn more about the particulars of this program here.

If you need help completing this application, contact the New York SBDC center nearest you.

SBA Debt Relief

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief

The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis.

Under this program:

This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans. Borrowers do not need to apply for this assistance.


SBA Express Bridge Loans

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans

Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. If a small business has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.

TERMS:

Find an Express Bridge Loan Lender by connecting with your local SBA District Office.


What Is the Status of My Disaster Loan Application?

If you’ve completed an application for the Economic Injury Disaster Loan (EIDL), you should have a confirmation number for that application.

If you have not yet received any updates from SBA, you do not need to contact the customer service number. Your application is still pending, and is being processed in the order in which it was received.

It’s tough to ask for your patience, but please know that your applications are being worked through.