Small Business Owners - Financial Support During COVID-19 Pandemic As a business owner, you are concerned for the safety of your family and friends, your employees financially, and your own financial security. The United States’ social distancing policy—mandated to prevent the further spread of COVID-19—has unfortunately wreaked havoc on small businesses and the general economy.On March 27, 2020 Congress passed the CARES Act, which includes $350 billion in financial aid for small business owners. There are several programs included within this financial aid:Paycheck Protection Program (PPP)Launched on April 3, 2020, this program uses Federally-guaranteed loans to assist small businesses maintain their payroll during the COVID-19 pandemic$10 million maximum loanLoan money that is used to pay for payroll costs, rent, utilities, interest on mortgage and group health insurance will be forgivenBusiness owners must apply through their SBA lendersJune 30, 2020 application deadlineNo personal guarantee or collateral is requiredU.S. Treasury Information SheetApplication Process Overview and PPP Lender Application FormS. Chamber of Commerce Emergency Loans Guide and Checklist Economic Injury Disaster Loan (EIDL)This is an existing loan program typically used during catastrophic economic situations (i.e., post-hurricane recovery) and is now applicable to small businesses affected by COVID-19$2 million maximum loanBusiness owners must apply directly at the Small Business Association website$10,0000 advance can be requested within 3 days of application and does not need to be repaid Click here to view the on-demand JFL webinar called “Protecting Your Business with the CARES Act” to learn additional options for small business owners.