SBA Implementation of the Economic Aid Act: Information and Press Releases

San Diego District Office

u s small business administration

SBA Implementation of the
Economic Aid Act


PAYCHECK PROTECTION PROGRAM

paycheck protection program, PPP

An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

SBA is currently offering:

(Releases listed newest to oldest.)

The SBA Takes Steps to Improve First Draw Paycheck Protection Program Loan Review

60,000 Paycheck Protection Program Loans Approved in First Week

SBA Re-Opening Paycheck Protection Program to Small Lenders on Friday, January 15 and All Lenders on Tuesday, January 19

La SBA reabre el Programa de protección de pago a los pequeños prestamistas el viernes 15 de enero y a todos los prestamistas el martes 19 de enero

1.1 Million Paycheck Protection Program Loans Forgiven So Far Totaling Over $100 Billion

1.1 millones de dólares en préstamos del Programa de protección de pago condonados hasta la fecha, por un total de más de 100 mil millones de dólares

SBA Re-Opens PPP to Community Financial Institutions First

La SBA vuelve a ofrecer el PPP primero a las instituciones financieras comunitarias

SBA y el Departamento del Tesoro anuncian la reapertura del PPP; emiten nuevas directrices

SBA and Treasury Announce PPP Re-Opening; Issue New Guidance

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COVID-19 ECONOMIC INJURY DISASTER LOAN

EIDL


In response to the Coronavirus (COVID-19) pandemic, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan. The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19.

SBA Extends COVID-19 Economic Injury Disaster Loan Application Deadline through Dec. 31, 2021

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SBA Debt Relief

Image: SBA Debt Relief

SBA is providing debt relief to existing SBA loan borrowers
during the COVID-19 pandemic.

SBA Extends Crucial Lifeline to Borrowers Impacted by COVID-19 with Debt Relief

SBA extiende un salvavidas crucial a los prestatarios afectados por COVID-19 con el alivio de deuda

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Targeted EIDL Advance

Economic Injury Disaster Loan and Economic Injury Disaster Loan advance, , EIDL, Coronavirus


COVID-19 Targeted EIDL Advance
was signed into law on December 27, 2020, as part of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. The Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency.

Advance funds of up to $10,000 will be available to applicants located in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding.

Applicants do not need to take any action at this time.
SBA will reach out to those who qualify.

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Shuttered Venue Operators Grant Program

Image: SBA Shuttered Venue Operators Grant


The Shuttered Venue Operators (SVO) Grant program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on December 27, 2020. The program includes $15 billion in grants to shuttered venues, to be administered by the SBA’s Office of Disaster Assistance.

Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.

SBA is in the process of setting up the grant program and
is not yet accepting applications.

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Small Business Training Calendar Links

The SBA and its resource partner organizations offer many workshops and training events (webinars), for entrepreneurs and small business owners, on an on-going basis. Please take a moment to review our upcoming events now, and bookmark the sites listed below for future reference. We look forward to seeing you at one or more of our future events.

SBA Calendar

SCORE San Diego

SBDC San Diego and Imperial Valley Network

San Diego & Imperial Women's Business Center

SOCAL Veterans Business Outreach Center

Procurement Technical Assistance Center


Articles, photos, events, and linked information included in this newsletter are for informational purposes only and do not indicate an endorsement by SBA of the views, opinions, products or services of any person or entity. SBA is not responsible for and does not endorse information posted on or linked from third party websites. All SBA programs and services are extended to the public on a nondiscriminatory basis.


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