COVID -19 Relief Options
SBA Re-Opening Paycheck Protection Program to Small Lenders on Friday, January 15 and All Lenders on Tuesday, January 19
Lenders with $1 billion or less in assets will be able to submit first and second draw PPP applications on Friday. All other lenders will be able to submit on Tuesday, January 19. For more information, go to www.sba.gov/ppp.
CARES ACT FRAUD
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the largest financial assistance bill to date, includes provisions to help small businesses. Fraudsters have already begun targeting small business owners during these economically difficult times. Be on the lookout for grant fraud, loan fraud, and phishing.
Updated 4/27/20 - Small Business Owner's Guide to the CARES Act
COVID-19 Economic Injury Disaster Loan (EIDL) - https://www.sba.gov/page/disaster-loan-applications
You apply directly to the SBA for this loan (https://covid19relief.sba.gov/#/) and initially only need to provide basic company and owner information to get the process started. After the application is processed, you will need to furnish additional information (such as tax returns, personal financial statements, projections, and liability schedules).
PPP and EIDL FAQ's (5/2020)
Paycheck Protection Program (PPP) - https://www.sba.gov/funding-programs/loans/paycheck-protection-program
8/24/2020 - UPDATE - Treatment of Owners and Forgiveness of Certain Nonpayroll Costs - Click HERE
8/11/2020 - FAQ for Loan Forgiveness - Click HERE
8/11/2020 - UPDATE - FAQ #50 & #51 - Click HERE
8/4/2020 - UPDATE - FAQ - Click HERE.
6/25/2020 - UPDATE - Frequently Asked Questions - FAQ #49 (Please note FAQs #12 and #20 have been revised). Click HERE.
6/17/2020 - UPDATE - New EZ and Revised Full Forgiveness Applications:
Click HERE for EZ Forgiveness Application
Click HERE for Instructions to EZ Forgiveness Application
Click HERE for Full Forgiveness Application
Click HERE for Instructions to Full Forgiveness Application
6/7/2020 - UPDATE - PPP Flexibility Act - Statement https://home.treasury.gov/news/press-releases/sm1026
5/19/2020 - UPDATE - Frequently asked questions for Borrowers and Lenders: https://www.sba.gov/sites/default/files/2020-05/Paycheck-Protection-Program-Frequently-Asked-Questions_05%2019%2020.pdf
Find the application and more information here - https://home.treasury.gov/cares
You will need to work directly with your banker to facilitate this process.
SBA 7a Lender List https://www.sba.gov/sites/default/files/Most_Active_Nebraska_Lenders.pdf
- You should consider applying or directing employees that are not able to be employed by your business to the Nebraska Department of Labor (DOL) resources page. https://dol.nebraska.gov/pressrelease/details/141
- Nebraska DOL Unemployment Benefits - https://www.dol.nebraska.gov/uibenefits
- Federal Pandemic Unemployment Assistance - https://www.dol.nebraska.gov/webdocs/resources/items/federal%20covid-19%20programs.pdf
Paid Leave and Family Medical Leave - https://www.dol.gov/agencies/whd/pandemic
Starting April 1, employees affected by COVID-19 may be entitled to certain paid leave. Employers paying out this applicable leave are entitled to refundable payroll taxes to offset the cost of the leave.