Financial Resources


Please see the resources below for information about small business loans available through the Small Business Administration as well as the loans available through the recently enacted Coronavirus Aid Relief, and Economic Security Act (CARES Act). Part of this stimulus package dedicates $349 billion for Paycheck Protection Program loans to provide much needed funds to small businesses to keep employees on the payroll and to get through the epidemic.  Please review these resources as an overview only, and always consult with tax professionals to review all of your options and to determine the best options for you and your business.

University of Georgia’s Small Business Development Center does an excellent job of summarizing options available with the Small Business Administration. Find overview HERE.

  • U.S. Small Business Administration (SBA):  SBA is offering low-interest federal disaster loans and $10,000 grant for working capital to Georgia small businesses including private non-profit organizations of any size, suffering substantial economic injury as a result of COVID-19.  Loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.  The interest rate is 3.75% for small business and 2.75% for non profits and offers loans with long term repayments in order to keep payments affordable, up to a maximum of 30 years and loans up to $2 million. Please note the following:
    • Applicants may  apply online
    • Applicants are applying for the Economic Injury Disaster Loan (EIDL) Program so they must select the Economic Injury (EIDL) Loan Option.
    • Click here for a PDF that explains the Three Step Loan Process.
    • Applicants for SBA’s EIDL program can apply for a loan advance up to $10,000. Info HERE. 
    • Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, you may qualify for an SBA Express Disaster Bridge Loan. 
    • Get Debt Relief: SBA will pay the principal and interest to banks on behalf of businesses for current SBA loans and new loans issued up until 9/27/2020. Businesses should ask their lender for their relief. Note: This includes SBA export financing programs (i.e. EWCP, Export Express and the international Trade Loan).
    • Lender Match– an additional resource for pandemic -affected small businesses who have not applied for or received an approved PPP loan to connect with lenders. 
    • Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email for more information on SBA disaster disaster assistance.
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    • Note:  SBA reopened the EIDL and the EIDL Advance Program Portal on 6/15/2020. See press release here. 
    • SBA and Treasury Annnounce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program – requires fewer calculations and less documentation for eligible borrowers.
      • Click here to view the EZ Forgiveness Application 
      • Click here to view the Full Forgiveness Application 
  • Navigate the CARES ACT: The CARES Act is a $2 trillion economic support package focused on direct payments, target relief, small business loans, health care surge and state and local aid
    • It includes a $349 billion Paycheck Protection Program SBA 7 (a) to help small businesses stay open and keep employees on payroll by providing cash-flow assistance via 100% federally guaranteed loans that may be forgiven if borrowers maintain or restore payroll.  You are eligible for a loan if you are a small business that employs 500 employees or fewer, or if your business is in an industry that has an employee-based size standard through SBA that is higher than 500 employees. Sole proprietors, independent contractors, gig economy workers, and self-employed individuals are all eligible for the Paycheck Protection Program.  More Details here.
    • The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
      • For a top-line overview of the program CLICK HERE
      • If you’re a lender, more information can be found HERE
      • If you’re a borrower, more information can be found HERE
      • The application for borrowers can be found HERE
    • You can apply for the Paycheck Protection Program (PPP) at any lending institution that is approved to participate in the program through the existing US SBA 7(a) lending program and additional lenders approved by the Department of the Treasury.  You can call your bank or find SBA approved lenders in your area through SBA’s online Lender Match tool. You can also call the local Small Business Development Center.  Local Assistance – UWG Small Business Development Center. Todd Anduze is the local area director (678) 839-5082 | 105 Adamson Hall, Carrollton, GA 30118 |
      • SBA: Paycheck Protection Program Loans FAQ HERE 
      • US Senate Committee on Small Business & Entrepreneurship: Paycheck Protection  Program FAQs HERE
  • Get State Tax Relief:  The Georgia Department of Revenue has implemented tax relief, including more time to pay taxes. DOR is automatically extending the 2019 income tax filing and payment deadline to July 15, 2020. Vehicle registrations that expire between March 16, 2020 and May 14, 2020 are being extended through May 15, 2020. 
  • Get Federal Tax Relief:  The Internal Revenue Service (IRS) deadline to file federal taxes for businesses and individuals was moved from April 15 to July 15, 2020 without penalties or interest, regardless of the amount owed. The deferment applies to all taxpayers and individuals, trusts and estates, corporations and other non corporate tax filers.  Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. 
  • Get Tax Credit for COVID-19 Required Paid Leave:  Paid sick leave and extended paid family medical leave (FMLA) are now available to employees effective April 1, 2020 to December 31, 2020. Paid sick leave entitles workers up to 80 hours of paid leave when they are unable to work for certain reasons related to COVID-19. The expanded FMLA entitles workers up to 12 weeks of COVID-19 related leave.  This credit part of Families First Coronavirus Relief Act Congress passed on March 18.  Employers are entitled to fully refundable tax credits to cover leave.  FFCRA: Questions and Answers  |   Required Workplace Poster
  • IRS: Employee Retention Credit Available for Many Businesses: The Treasury Department and the IRS launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll.  The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. More HERE. 
  • Apply for grants:  Major companies have announced support for small businesses
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