How can I apply for a small business loan?
Questions are submitted by our Workest readers. Sign up to ask an HR question of your own, and to contribute to the conversation
If you’re asking specifically in relation to the SBA relief loans for businesses impacted by the coronavirus outbreak, there are some steps that have to happen locally before you can apply.
First, the governor of the state where your business is located needs to request that the SBA declare your country or area has impacted by the coronavirus outbreak. After that, the SBA will make businesses aware that they are eligible to apply. I would reach out to county officials to see if any steps have been taken yet if this is the loan you intend to apply for. In the meantime, I would suggest collecting data on how you’ve been impacted in terms of revenue, how current revenues compare to previous periods, the dates when the impact began, any insurance you expect to receive, etc. Having this kind of detail in hand may help expedite the process when the loan applications are made available.
If you are asking about a more general small business loan, you would typically go through a lender and it could be guaranteed by the SBA. You can learn more about those here: https://www.sba.gov/funding-programs/loans
Best of luck!
What do you think? Join The Conversation
Please login or Register to submit your answer
Recent People Operations Questions
-
What are some strategies to manage employees who work virtually?
Dec 05, 2022
1 answers
-
What are some workforce trends I should be aware of as I plan for 2023?
Oct 21, 2022
1 answers
-
How do people fit into the idea of ’emorational’ decisions?
Oct 21, 2022
1 answers
-
What should I be thinking about if I’m looking to expand my workforce globally?
Oct 21, 2022
1 answers
Most read stories
Where do I mail my tax returns? That depends on your location. Here is our guide to each IRS mailing address, based on your state.
Generational differences in the workplace need not be as confusing as they sound. Our HR guide to Generations A to Z will shed light on how each fits into your organization.
An employee handbook can be crucial in building a positive workplace culture and employee loyalty, but they’re not easy to write. That’s why we’re breaking down the process for you and offering you 7 employee handbook examples.
Separating an employee is never easy — for the worker or the HR staff member. The challenge is to conduct the meeting in a professional way that not only protects the rights of the business, but those of the employee as well.
This website provides general information related to Zenefits services and related laws and best practices. This content and Zenefits employees do not provide legal advice. While we strive to provide useful general information applicable to the majority of our readers, we do not - and cannot - provide legal advice specific to your company and your situation. Already a Zenefits customer? Enjoy on-demand HR Advisory Services for all your HR and compliance questions. If not, learn more here.
