Reach out: Are you a small business owner or self-employed individual who is having trouble obtaining relief through the SBA loan programs? I’d love to hear about your experience.
With luck, the sooner you get started, the better off you’ll be. When your loan is eligible, you will receive an email invitation and a link to the forgiveness application will be available through Wells Fargo Business Online. How long will this take? Unclear! The SBA, lenders, and basically everyone involved in getting the loans out to people appear to be completely overwhelmed by the volume of applications.How do I get started? Start by filling out the application (which you can find on the SBA’s website) and then taking it to an eligible lender.As long as you use most of the money on payroll costs, you should be okay. Do I have to pay the loan back? Maybe not.For a sole proprietor or independent contractor, that means wages, commissions, income, or earnings from self-employment ($100,000 a year max for each employee). What can I use these loans for? Payroll costs (including benefits), rent, mortgage interest, and utilities over an eight-week period.
Use our searchable database to see who in Georgia received funds. The SBA has a searchable database of approved lenders here. Who in Georgia got Paycheck Protection Program loans during the pandemic The Small Business Administration has released a list of businesses that have received emergency pandemic loans. You can apply through an SBA lender, a federally insured credit union, or a participating Farm Credit System institution.
When and where can I apply? Today, supposedly! The PPP says self-employed individuals and independent contractors can start applying on April 10.
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