SBA offers several different relief options to help businesses, nonprofits, and faith-based organizations recover from the impacts of COVID-19. You can view all options or skip to a specific program below.SBA is currently offering the following funding options: Paycheck Protection Program (PPP): First Draw PPP Loans Second Draw PPP Loans COVID-19 Economic Injury Disaster Loans (EIDL) Express Bridge loans SBA debt relief (for existing borrowers) The CARES Act spells out that the forgiven loan amount won’t be included in taxable income. That means you don’t pay taxes on the money that you receive. The aim of this loan is to provide businesses with the money to keep running and continue paying employees, not to create a tax burden for businesses receiving the funds.

Question

Didn't the SBA rule all of the USA as a disaster loan?

Forum|Forum|5 years ago
February 15, 2021
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Cynthiad66

SBA offers several different relief options to help businesses, nonprofits, and faith-based organizations recover from the impacts of COVID-19. You can view all options or skip to a specific program below.

SBA is currently offering the following funding options:

Paycheck Protection Program (PPP):
- First Draw PPP Loans
- Second Draw PPP Loans
COVID-19 Economic Injury Disaster Loans (EIDL)
Express Bridge loans
SBA debt relief (for existing borrowers)

The CARES Act spells out that the forgiven loan amount won’t be included in taxable income. That means you don’t pay taxes on the money that you receive. The aim of this loan is to provide businesses with the money to keep running and continue paying employees, not to create a tax burden for businesses receiving the funds.

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