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SBA Loan Programs and PPP Information

Posted on: April 16, 2020 - 3:20pm

Update (4/22/20):  On April 21st, Senate and House negotiators agreed on a deal to send additional funds to health care providers and the Paycheck Protection Program (PPP) as well as resources to increase testing capacity. This funding package will also include PPP funds specifically designated for community banks and small lenders to ensure they are reaching small businesses. Businesses interested in applying through the PPP fund should go to:  https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp (Update from Office of U.S. Senator Christopher Murphy)

Please see the following message from the Windham Region Chamber of Commerce:

SBA LOAN PROGRAMS (EIDL) AND PPP ARE CLOSED (AS OF 4/16/20)

During an interview Wendell Davis, New England region administrator for the SBA, said the SBA is no longer accepting applications for the Economic Injury Disaster Loan program until more funding is allocated. Also, the PPP has been closed because funding has been used up. “We’re encouraging everyone to apply for the PPP,” notwithstanding pending congressional action to resupply the lending pool. “If your bank is not accepting any more applications, move on to another bank.”

Here are some other lenders that are accepting applications from non-customers:

· Intuit: https://aidassist.intuit.com/app/home#/home

· QuickBooks Capital: https://quickbooks.intuit.com/small-business/coronavirus/paycheck-protection-program/

· Square Capital: https://squareup.com/us/en/l/sba-ppp-loans (in process of being set-up)

· Kabbage: https://www.kabbage.com/paycheck-protection-program-loans/

· Veem: https://www.veem.com/

· Biz2Credit: https://www.biz2credit.com/

· PayPal https://www.loanbuilder.com/ppp-loan-application (they are now up and running)