While marred with glitches and website crashes, the Small Business stimulus loans are still a possible hope for all small businesses devastated by Covid-19 nationwide. We here at NVHBG, want to make sure that we can give any assistance or help for those that may need it with as much information as we can. If you do need assistance to remember to check out the SBA website and talk to your local lender on how they are supporting small businesses through these uncertain times.
Since last Friday, there has been an influx of applications, uneasiness, and uncertainty about the process and when money will actually arrive. The Paycheck Protection Program has the ability to be the much-needed lifeline that small businesses are going to need in these next weeks or even months. While the banks are processing loans, there is some confusion on the language within the promissory notes and the needed funding for the banks themselves.
While the days go on hopefully there will be a smoothing of the process bringing back confidence for those small businesses most affected. While the Paycheck Protection Program will help those who keep employees employed through the crisis; all the rules and regulations through the SBA website, or they may be through your own current lender which are all working with the SBA. Remember that there may be long line so it’s important to have some patience as hold times may be longer than usual.
We are all facing some challenging times ahead, but we here at NVBHG, hope that you and yours stay safe and are able to keep following the guidelines 30 Days to Spread given out by the CDC and the administration.