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1 1 (July 28, 2020)

handle is hein.crs/govdbfp0001 and id is 1 raw text is: Researh Sevice Small Businesses and COVID-19: Relief and Assistance Resources Updated July 28, 2020 This CRS Insight presents selected websites and CRS products potentially relevant to small businesses that are directly affected by the Coronavirus Disease 2019 (COVID- 19) pandemic and seeking economic relief and assistance. For an analysis of the small business provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020, see CRS Report R46284, COVID-19 Relief Assistance to Small Businesses: Issues and Policy Options. For businesses interested in supporting COVID-19 mobilization efforts, see CRS Insight Ni 1419, COVID-19: Selected Federal Resources for Businesses Seeking to Assist with Research and Manufacturing Efforts. For a list of CRS products related to COVID-19, see the CRS COVID-19 Resources page. Selected Resources Small Business Administration The Small Business Administration's (SBA's) Coronavirus (COVID-19) resource page provides information on new assistance programs, such as the Paycheck Protection Program (PPP) (a loan program established by the CARES Act). PPP loans may be forgiven under certain conditions. The SBA briefly stopped accepting new PPP loan applications on April 15, 2020, before restiming on April 27, 2020, following enactment of the PPP and the Health Care Enhancement Act. A subsequent bill extended the PPP loan period from June 30, 2020 to August 8, 2020. SBA Economic Injury Disaster Loans (EIDL) are low-interest loans available to eligible small businesses; the CARES Act also established the Emergency EIDL Grant program to provide EIDL advance payments of up to $10,000, which do not need to be repaid. The SBA stopped accepting COVID-1 9-related EIDL and Emergency EIDL grant applications on April 15, 2020, because the SBA was approaching its disaster loan assistance credit subsidy limit. The SBA began accepting new EIDL and Emergency EIDL grant applications on a limited basis on May 4, 2020, to accommodate agricultural businesses that were Congressional Research Service https://crsreports.congress.gov IN11301 CRS NStGHT Prepaimed for Mernbei-s and Committees o. ' C- --q .. . . . . . . . ...----------------------------------------------------------------------------------------------------------------------------------------------------------------------

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