Small Business Administration (SBA) COVID-19 Loans

The U.S. Small Business Administration (SBA) is offering two loan programs as a result of the coronavirus (COVID-19) to small businesses throughout New York State. See below for details of the SBA Paycheck Protection Program and SBA Economic Injury Disaster Loan Program.

SBA Paycheck Protection Program

The Paycheck Protection Program (PPP) is part of the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion federal stimulus package passed on March 27. The PPP provides loans of up to $10 million to support small businesses and other eligible entities to pay workers, interest on mortgage obligations, rent, insurance, paid sick or medical leave, utilities, and payroll related costs incurred from Feb. 15, 2020 – June 30, 2020. 

For full details of the PPP Program, see the FAQ below.

SBA Economic Injury Disaster Loan Program

The SBA’s Economic Injury Disaster Loan (EIDL) Program provides small businesses and non-profits with low-interest loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due COVID-19. 

For full details of the EIDL Program, see the FAQ below.

Paycheck Protection Program (PPP) FAQs

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Economic Injury Disaster Loan (EIDL) FAQs

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Application Instruction Guide

Download this PDF guide to learn how to use the SBA portal to apply online.

ESD Presentation on SBA Disaster Loans

For Further Guidance, Contact:

NY Small Business Development Centers (SBDC)

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Entrepreneurship Assistance Centers (EAC) Contact List

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Community Development Financial Institution (CDFI) Contact List

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Overview of SBA Disaster Loans

Watch this video to learn more about how to apply for a COVID-19 SBA Disaster Loan.

COVID-19 Business Questions