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President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
Disaster loan information and application forms can also be obtained by calling the SBA's Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability ...
Using your online tax software, or the Free File program offered by the IRS, obtain and fill out IRS extension Form 4868: Application for Automatic Extension of Time to File U.S. Individual Income ...
SBA loan statistics. According to the SBA, at the end of 2023 fiscal year:. $27.5 billion in SBA 7(a) loans was approved. Almost 70 percent of 7(a) loans were for amounts under $350,000
Examples of qualifying loans may include business credit card obligations, capital leases, notes payable to vendors or suppliers, Development Company Loan Program (504) first-lien loans, other loans to small businesses made without an SBA guaranty, and loans made by or with an SBA guaranty on or after Feb. 17, 2009. Borrowers with loans that ...
The Employee Retention Credit is a refundable tax credit against an employer's payroll taxes. [2] It was established as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Donald Trump, in order to help employers during the pandemic. [3]
Rates current as of November 2023; calculated with current prime rate of 8.50%. Longer repayment terms. With SBA loans, you have longer to pay off the loan than most business loans.
This will require extensive documentation, including personal and business financial statements, a business plan and SBA-specific forms, such as SBA Form 413 and 1920. Most SBA loans also require ...