Idaho Official Resources COVID-19

Old Town Pocatello COVID 19 Resources

How to get started for a Paycheck Protection Program Loan:

To apply for a PPP loan, you must do so through an existing SBA 7(a) lender, federally insured institution or credit union. So start by calling the bank where you currently have your business accounts.

more – Idaho State Journal

Pocatello/Chubbuck Directory of Banks

Pocatello/Chubbuck Directory of Credit Unions

 

Resources for your Small Business:

The local office for SBA is:

Idaho State University SBDC – ISU College of Business
Building #5 Room 328
Pocatello, ID 83209-8020
208.244.8521

Source: Forbes.com
There are four federal programs now open to businesses affected by the COVID-19 crisis:

  • The Paycheck Protection Program: This new program provides forgivable loans of up to $10 million to help businesses (and not-for-profits) with 500 or fewer employees keep their workers on the payroll. The loan can cover expenses including wages, rent, mortgage interest and utilities. The program is administered by the U.S. Small Business Administration (SBA) and is available through June 30, 2020. Loans are issued through private banks and backed by the government.
  • Economic Injury Disaster Loans (EIDL): Also administered by the SBA, these loans can provide up to $2 million to businesses with 500 or fewer employees for a loan term of up to 30 years. An advance of up to $10,000 is available to applicants, and it does not have to be repaid.
  • SBA Express Bridge Loans: These loans are only available to those with an existing business relationship with an SBA lender. They can give businesses quick access to up to $25,000.
  • SBA Debt Relief: For six months, the SBA will automatically pay the principal, interest and fees on current qualified loans and new qualified loans issued before Sept. 27, 2020. The SBA is also providing automatic deferments through Dec. 31, 2020 on any currently serviced disaster loans.

Request an Appointment for an SBA Coronavirus loanClick Here for the Old Town Pocatello page of Coronavirus (COVID-19) page”Resources for our Small Business.”Coronavirus (COVID-19) Small Business Guidance & Loan ResourcesSBA “COVID-19 Economic Injury Disaster Application”Local Banks for SBA Coronavirus LoansApplication Form for Payroll Protection Program

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