PAYCHECK PROTECTION PROGRAM - (PPP) | US SMALL BUSINESS ADMINISTRATION
Provides 100% federally guaranteed loans to small businesses as a response to the COVID-19 crisis.If all employees are kept on payroll for eight weeks, SBA will forgive the portion of the loans used for payroll, rent, mortgage interest, or utilities. Up to 100 percent of the loan is forgivable.Loans can be up to 2.5 times the average monthly payroll cost, not to exceed $10 million.A loan guide created by the U.S. Chamber of Commerce can be found here.
Physical Address
333 E Water St Ste 4, Elmira, NY 14901
Hours
Mon 8:00 am - 4:30 pm; Tue 8:00 am - 4:30 pm; Wed 8:00 am - 4:30 pm; Thu 8:00 am - 4:30 pm; Fri 8:00 am - 4:30 pm;
Fax
(607) 733-4656
Voice
Voice
Fax
(607) 733-4656
Website
Application process
Call or check website for information
Fee
Interest rate 1%
Eligibility
Businesses - including eligible non-profits, Veterans organizations, Tribal concerns, sole proprietorships, self-employed individuals, and independent contractors described in the Small Business Act - with 500 or fewer employees.Businesses in certain industries may have more than 500 employees if they meet the SBA's size standards for those industries.
Languages
English
Agency info
US SMALL BUSINESS ADMINISTRATION
To offer assistance to small businesses through counseling, training and business development specialists at local offices to help start and grow small business.