Small Business Resources
Starting February 22, the Small Business Administration opened an exclusive 14-day loan application period for businesses and nonprofits with fewer than 20 employees.
You can apply for the Paycheck Protection Program by downloading the First Draw PPP loan application or Second Draw PPP loan application and working with a participating PPP lender through the SBA Lender Match tool.
The SBA also announced new, important reforms to the program that will help save jobs, boost North Carolina's economy and ensure relief gets to those who need it the most. These reforms will start in early March, and include:
- Allowing sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants
- Eliminating an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal
- Eliminating PPP access restrictions on small business owners who have struggled to make federal student loan payments by eliminating federal student loan debt delinquency and default as disqualifiers to participating in the PPP; and
- Ensuring access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP.
Learn more about the support available to small businesses by visiting https://www.sba.gov/.