The Small Business Administration Arizona, today, released the following updates for Arizona small businesses related to the PPP LOan and EDIL Loan programs
SBA Releases PPP Loan Forgiveness Application and Instructions
The SBA, in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application (Spanish Version) and detailed instructions for the application.
The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
The SBA and Department of the Treasury also recently posted the following two Interim Final Rules:
SBA Loan Review Procedures and Related Borrower and Lender Responsibilities
PPP Funding Still Available for Small Businesses
PPP funds are still available for small businesses, sole proprietors, independent contractors, self-employed persons, 501(c)(3) non-profit organizations, 501(c)(19) veterans organizations, and Tribal businesses.
To apply for this forgivable loan, submit your application with a participating lender.
As of May 23, over $8.5 billion of PPP funding has been approved for 73,739 Arizona businesses and non-profits. Please see the published SBA PPP Reports for the most recent data on PPP loan approvals.
PPP Resources
- PPP Lender List – Arizona: Includes participating banks, credit unions, micro-lenders, CDFIs and alternative online lenders
- PPP Program Information
- PPP Program Overview
- Borrower Information
- Lender Information
- PPP FAQs
- How to Calculate PPP Loan Amounts
- PPP Interim Final Rule – Provides Calculation Examples
Update on SBA Economic Injury Disaster Loan (EIDL) and EIDL Advance
At this time, SBA is accepting new EIDL and EIDL Advance applications from agricultural businesses. Agricultural businesses can apply online through the SBA COVID-19 EIDL Application Portal. SBA has also resumed processing EIDL and EIDL Advance applications that were submitted before the SBA loan portal stopped accepting new applications on April 15.
For the most up-to-date information on these programs, please visit https://www.sba.gov/funding-programs/disaster-assistance/coronavirus-covid-19.
For questions on the status of your SBA EIDL or EIDL Advance application, please contact the SBA Disaster Assistance Customer Service Center at 1-800-659-2955 or email disastercustomerservice@sba.gov
Join SBA’s Disaster Recovery Team
Join SBA’s Office of Disaster Assistance where you can enjoy challenging but satisfying work as part of a highly motivated and diverse team helping families and businesses struggling to rebuild their lives after a disaster. We are seeking:
- Call Center Customer Service Representative (CSR)
- Document Preparation/Legal Review/Loan Closings
- Loan Processing/Credit Analysis/Mortgage Underwriting
- Program Support Assistant
Additional Resources for Small Businesses
The SBA is committed to helping small businesses recover from the economic impact of COVID-19. Additional assistance includes:
- Funding: SBA Coronavirus Relief Options, SBA 7(a), 504 and microloans.
- Advising: The SBA Resource Partner Network for business resiliency readiness advising and training.
- Tax Relief: IRS information about tax relief for businesses.
- Federal Resources for Small Business: https://covid-sb.org/
- Federal Resources: Information on all federal programs at https://www.usa.gov/coronavirus and https://www.usa.gov/espanol/coronavirus (en Español)
- State Resources: Arizona Commerce Authority has information for employers and small businesses: https://www.azcommerce.com/covid-19 and https://www.azcommerce.com/covid-19-espanol/ (en Español)
