Latest News to SBA Economic Injury Disaster Loan and Paycheck Protection Program wycotax.com

The coronavirus pandemic has triggered many small businesses to close down temporarily. Both owners and employees are affected by this event. Since no one knows when will this end, everyone is finding their own way to recover the losses brought by the temporary closure of their companies and jobs. The government and other organizations are also helping solve the crisis by giving assistance to both owners of small businesses and those who became jobless through the CARES Act bill.

Just recently, the U.S Small Business Administration (SBA) released the details of two of its programs to help in the pandemic. These are the Economic Injury Disaster Loan and Paycheck Protect Program. These two programs have different purposes but in general, they aim to provide assistance to small businesses that are currently affected by the pandemic. If you are an owner of a small company and you are currently experiencing losses because of its closure, here’s what you can do to avail of the SBA’s disaster loan and PPP program.