The U.S. Small Business Administration has some great online resources for business during the Coronavirus pandemic. Including coronavirus funding options, as well as guidance for businesses and employers.

Local assistance from the SBA is available locally, Oklahoma City SBA resources are available through the sba.gov website here.

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Access to Capital is available, and the SBA has some resources on where to start:

Access to Capital

SBA provides a number of loan resources for small businesses to utilize when operating their business. For more information on loans or how to connect with a lender, visit: https://www.sba.gov/funding-programs/loans.

  • 7(a) program offers loan amounts up to $5,000,000 and is an all-inclusive loan program deployed by lending partners for eligible small businesses within the U.S. States and its territories. The uses of proceeds include: working capital; expansion/renovation; new construction; purchase of land or buildings; purchase of equipment, fixtures; lease-hold improvements; refinancing debt for compelling reasons; seasonal line of credit; inventory; or starting a business.
  • Express loan program provides loans up to $350,000 for no more than 7 years with an option to revolve. There is a turnaround time of 36 hours for approval or denial of a completed application. The uses of proceeds are the same as the standard 7(a) loan.
  • Community Advantage loan pilot program allows mission-based lenders to assist small businesses in underserved markets with a maximum loan size of $250,000. The uses of proceeds are the same as the standard 7(a) loan.
  • 504 loan program is designed to foster economic development and job creation and/or retention. The eligible use of proceeds is limited to the acquisition or eligible refinance of fixed assets.
  • Microloan program involves making loans through nonprofit lending organizations to underserved markets. Authorized use of loan proceeds includes working capital, supplies, machinery & equipment, and fixtures (does not include real estate). The maximum loan amount is $50,000 with the average loan size of $14,000.

As well, according the SBA website, they are hiring additional employees to assist with disaster relief.

“Join our team! The SBA is hiring additional employees to assist with disaster relief efforts. Bilingual language skills are a plus. Remote jobs are available nationwide. “

We are all in this TOGETHER! we will make it through! STRONGER!