The small business sector is facing an unprecedented crisis
Small businesses need immediate access to capital to replace lost revenue until normal operations can resume.
The Paycheck Protection Program (PPP) is a loan offered by the Small Business Administration (SBA) that helps businesses keep their workforce employed during the Coronavirus crisis. Although the SBA is no longer accepting new applications due to a lapse in appropriations funding, additional funding is likely to be approved soon and expected to run out quickly.
Understanding that many Arizona businesses have yet to take advantage of the PPP, MST Solutions and the Arizona Commerce Authority (ACA) recently combined their resources to quickly create a loan calculator and application instructions to ensure small businesses seeking relief can get a head start on preparing their PPP loan applications.
If your business has been affected by Coronavirus and may be eligible for PPP funds, head over to the ACA website now to estimate your maximum PPP loan amount, review application instructions, compile a list of required documents and download the loan application. The loans are granted on a first-come, first-serve basis, so it’s important to be fully prepared as soon as possible. Remember, we’re all in this together. So, share these resources to help others who may be struggling too.
Please note, the resources are being provided for informational purposes only and do not constitute legal or tax advice. The U.S. Small Business Administration may change their requirements at any time and the calculator should be viewed as providing estimates only.