I have a used car dealership. What do I need to apply for the loans?
Questions are submitted by our Workest readers. Sign up to ask an HR question of your own, and to contribute to the conversation
It depends on how your business is structured and how many employees you have. The SBA loans are designed for small businesses with 500 employees or less.
We have put together this article that describes the differences between the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan: https://www.zenefits.com/workest/paycheck-protection-program-vs-disaster-loan-which-one-is-right-for-my-smb/
As of April 23, both programs are out of funding, but Congress has passed a new bill to replenish funds.
You can apply for the EIDL loan through the SBA (note the application portal is closed until more funding arrives): https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance
You can go to your local lender or where you bank for information about the PPP loan application process.
What do you think? Join The Conversation
Please login or Register to submit your answer
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.