4/6/2023 0 Comments Fastlane pppLike the PPP, this program has been around for a while but has one key difference. The assistance can be used to pay for financial obligations or operating expenses that a business would have been able to cover on its own had the pandemic not occurred. Economic Injury Disaster LoanĪlso known as EIDL, this is another program overseen by the SBA and provides economic relief for small businesses as well as nonprofits that have suffered from a temporary loss of revenue. Otherwise, call your local SBA District office for more details. Here is a quick rundown of the various pandemic assistance programs available for businesses.įor more details about the program, including help for finding a qualified lender, visit the SBA’s official PPP website. This makes it especially important for small business owners to not just keep tabs on the various assistance programs but also educate themselves about the benefits they can receive. Business owners should also move quickly as funding will eventually run out, particularly given the high demand for these programs.įor subscribers: Shell company transparency law takes aim at a key Nevada industry. I’ve also had clients who left money on the table when they could’ve gotten more.” “I’ve talked to clients who had no idea that they could actually qualify as a new business, for example. “The big thing is that a lot of businesses don’t know that they can qualify for assistance,” Banda said. Some business owners and independent contractors don’t even know that relief options exist, especially smaller assistance programs run by local and state entities. While this is good news for struggling business owners, many either don’t apply or underestimate the amounts that they qualify for, said Kayla Banda, a business development advisor with the Nevada Small Business Development Center. ![]() The passage and signing of the American Rescue Plan in March kicked off another round of funding for COVID relief, which includes several assistance programs for small businesses. Despite the improved numbers for new cases and deaths compared to the peak of the pandemic, COVID-19 continues to have an outsized impact on small businesses.
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