Questions that small businesses asked on the Pop-Up Small Business Survival COVID-19. If a question is not answered, we are working on getting the answer. If a question is not listed. We are working on publishing all clearly stated questions. Please check back for answers to your questions.
Q. Are these ZOOM webinars able to be translated into other languages?
A. Not at this time, but we are working on providing Pop-Ups in other languages.
Q. Can employees who are sheltered apply for Unemployment Insurance (UI) or paid sick leave outside of what businesses offer?
Q. Will there be grants or only loans?
A. SBA is not a grant program and is only offering the Economic Injury Disaster Loan for COVID-19 pandemic.
Q. Is there any guidance on how to discuss deffered payments with property managers, utilities, insurance, etc.?
A. Apply to SBDC for one-on-one adivising for guidance and strategies on how to have those conversations.
Q. How can I get more details on the SBA Economic Injury Disaster Loan?
A. You can download the COVID-19 Small Business Survival Guide.
Q. How long is the typical approval process for the loans?
A. SBA's goal is to arrive at a decision on an application within 2-3 weeks. (see the COVID-19 Small Business Survival Guide)
Q. Is it better to apply for the EIDL online or mail in?
A. Online is quicker. SBA is receiving a high volume of applications. Please be patient.
Q. Can all small businesses receive one-on-one SBDC advising to help with EIDL forms?
A. For-profit small businesses can apply for one-on-one advising with SBDC and support with the EIDL forms. Non-profits are referred to partner organizations for one-on-one advising and EIDL support.
Q. When are taxes due?
Q. How much does SBDC cost services?
Q. If you currently have an active loan through SBA can you still be considered for an Economic Injury Disaster loan? (see the COVID-19 Small Business Survival Guide)
Q. Does SBA EIDL require a personal guarantee?
A. Loans over 25k will require a guarantee.
Q. Is there a limit on how much is borrowed?
A. You may borrow up to $2 million for Economic Injury. (see the COVID-19 Small Business Survival Guide)