Last week, the Federal government approved the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which allocates $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn.
Local SBA lenders are able to process applications under this act.
Below are a few documents to help you understand various aspects of the CARES Act. To apply for relief through the Paycheck
Protection Act, you will need to contact an SBA lender. You may apply for an Economic Injury Disaster Loan (EIDL) by clicking here. This is an easy application you complete do on your own.
Preferred SBA lenders in our area:
- CenterBank, 744 St Rt 28, Milford, OH 45150, (513) 965-8505
- CF Bank, 38 Village Square, Glendale, OH 45246, (513) 772-0263
- Park National Bank, 25 Main St., Milford, OH 45150, (513) 576-9415
- Peoples Bank, 735 Lila Ave., Milford, OH 45150, (513) 831-8630
- RiverHills Bank, 301 Main St, Milford, OH 45150, (513) 553-0910
CARES Act Information:
- CARES Act explained
- CARES Act FAQs
- US Chamber Small Business Emergency Loan Guide
- Coronavirus Emergency Loans Small Business Guide and Checklist
- Economic Injury Disaster Loan (EIDL) Program Guide
- Economic Injury Disaster Loan (EIDL) Program Link to Apply
- Full text of CARES Act
Forms to apply for SBA emergency relief:
Important Change on SBA Economic Disaster Loan Applications
The SBA has provided additional guidance regarding the $10,000 forgivable loan advance under the CARES Act. To be eligible, businesses must complete the new application that launched March 30. The new web site address is https://covid19relief.sba.gov/#/ .
Even if you have already competed an earlier version of the application or have already been turned down for a loan, you must reapply. Questions? Please call the SBA at 1-800-659-2955.