Emergency Relief for Small Businesses & Independent Contractors

Dated: April 10 2020

Views: 183

As a result of the $2 Trillion stimulus bill, $377 Billion (18%) of it was designated for small businesses and independent contractors.  The Colorado Small Business Development Center Network has a website dedicated to providing information on the several loans and grants that are now available.  This PDF explains the different programs that you can apply for:

1. Paycheck Protection Program (PPP) Loans - If you are a small business with employees that you would like to keep on the payroll, they are providing a mostly forgivable loan, provided that you keep your employees.  The payments for the remainder will be deferred 6 months from the initial disbursement.

2. Small Business Debt Relief Program - "This program will provide immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans."

3. Economic Injury Disaster Loans & Emergency Economic Injury Grants - "These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL)."

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Noah Neumark

My name is Noah Neumark and I work with both buyers and sellers of residential properties throughout th....

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