COVID-19: Loans for Healthcare Companies
If your company or organization has been adversely affected by the COVID-19 pandemic because of the social distancing requirements and shelter-in-place orders, you may be eligible to participate in the newly-authorized programs sponsored by the Small Business Association SBA). There are four programs. 1. The Paycheck Protection Program is intended to provide a direct incentive for small businesses to keep their employees on the payroll . From the SBA: You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program. Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program ...