Small Businesses May Receive Relief Money Friday
If you have a small business that has applied for the COVID-19 relief loan, you may receive it by this Friday.
According to WZZM, companies will still be able to apply for relief on Friday. The government has stripped down the traditional business loan bureaucracy and money can be available the same day.
The officials who made the statement say this is a prediction so use caution with the information.
The loans are available for small businesses all the way to companies that have up to 500 employees.
The money from the governments two trillion dollar stimulus program is intended to help small businesses and companies all across the country who have been forced to shut down.
There are a lot of great things attached to these loans like being guaranteed by the Small Business Administration, deferred payments and the prospect of using the money to keep workers or hire others who have been laid off.
There is another facet to the government's relief program. The SBA can lend money from the Economic Injury Disaster Loan program that can turn around $25,000 quickly.
Here is a link for all of the loans that are a part of the coronavirus relief program.