From the Alabama District Office of the U.S. Small Business Administration (SBA) on applying for an Economic Injury Disaster Loan
Here are links to the announcement of the Alabama Disaster Declaration for the Coronavirus, as well as a fact sheet for applying for SBA Economic Injury Disaster Loans.
Due to heavy traffic on the site, non-peak hours are 7 p.m. – 7 a.m. The Office of Disaster Assistance recommends using Edge or Internet Explorer, as some have had trouble using Chrome. To prevent against delays in processing your application, please read all the steps carefully, and ensure that you provide all documentation asked for. There are upload/download prompts within the application.
Feel free to reach out to SBA’s resource partners located throughout Alabama if you need assistance with the application process. They are listed at: https://www.sba.gov/offices/district/al/birmingham . Click on Alabama District Office Resource Guide. Resource partners (Small Business Development Centers, SCORE chapters and The Catalyst) are listed beginning on page 11 and ending on Page 12.
Reminder on How to Apply
The Alabama Small Business Development Center (SBDC) Network has put together valuable information about what businesses need to do before applying:
The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll.
Governor Kay Ivey on Thursday issued her twenty-second supplemental emergency proclamation extending the Safer at Home Order that includes a statewide mask requirement. Individuals will be required to wear a mask or other facial covering when in public and in close contact with other people, as described in the order. This order extends until Friday, March 5, 2021 at 5:00 p.m.
The guidance and forms issued by the SBA and Treasury are integral to understanding PPP. Please review the authoritative resources linked here to help you answer questions you have about the program.
Summary of Paycheck Protection Program (PPP) after enactment of the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues ActOn December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the Act) became law as a part of the Consolidated Appropriations Act, 2021. The Act provides $284.5 billion of additional funding for the Paycheck Protection Program (PPP) through the U. S. Small Business Administration (SBA). The following is a review of key provisions of the PPP after enactment of this legislation.
The IRS is open & processing mail, tax returns, payments, refunds, and correspondence. Here's guidance on the IRS' mission critical functions during the pandemic.