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The original item was published from 4/2/2020 7:48:29 AM to 4/6/2020 12:34:23 PM.

News Flash


Posted on: April 2, 2020

[ARCHIVED] Financial Support for Businesses

MBA Graphic

As the next portion of the CARES ACT for small business and non-profits rolls out on April 3rd, as stated by SBA and US Treasury Department, the Paycheck Protection Program (PPP) will be administered by your local bank or credit union that have been approved as a SBA lender through the 7(a) program.

This graphic created by the Missouri Banker’s Association highlights the difference between the two products available to offset the impact our small business have encountered as a result of COVID-19.

Both the PPP & the Emergency Injury Disaster Loan (EIDL) are offered by the SBA to assist Small Business and Non-Profits with retaining employees and bolstering working capital.

A point of clarification is the EIDL is a NON-FORGIVABLE Loan and the PPP is eligible for FORGIVENESS. The EIDL can be applied for directly at

At this SAME portal you as a small business or non-profit can ALSO apply for a $10,000 EMERGENCY ADVANCE of funds that is separate from the EIDL application. The CASH ADVANCED request takes approximately 15-30 mins to complete while the entire EIDL application takes an additional 90+ mins to submit. THE BORROWER DOES NOT HAVE TO APPLY FOR THE EIDL TO QUALIFY FOR THE $10,000 EMERGENCY ADVANCE OF CASH.

Additional Info...
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