Where to look if your small business can t get a PPP loan
SBA Website
Posted at 5:26 PM, Feb 09, 2021
and last updated 2021-02-09 20:57:52-05
The Paycheck Protection Program can be a lifeline for businesses that qualify, but itâs not the only program available for business owners struggling during the coronavirus pandemic.
Those who donât meet PPP requirements may be eligible for grants and other financing, including state and local grants and other loan programs supported by the Small Business Administration.
Other SBA loans and grants
The Small Business Administration has several lending programs available to struggling businesses. Loans backed by the SBA tend to have lower interest rates and more favorable terms than loans from private lenders, but borrowers still need to meet minimum credit standards and may need to put down collateral.