The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was passed by Congress are intended to assist business owners with whatever needs they have right now. This page provides information about the major programs and initiatives from the Small Business Administration (SBA) to address the evolving needs of small business owners, as well as some additional tax provisions that are outside the scope of SBA.
To keep up to date on when these programs become available, please follow us on social media: Facebook.com/AlabamaSBDC, or follow SBAgov on Twitter.
All businesses, sole proprietors, and independent contractors can now submit applications. You may want contact your lender to determine if they are participating in these SBA programs, and how you can apply.
Updated PPP Forms (January 2021)
- Form 2483 – First Draw Borrower Application (Updated 1/8/21)
- Form 2484 – First Draw Lender Guaranty Application (Updated 1/8/21)
- Form 2483-SD – Second Draw Borrower Application (Released 1/8/21)
- Form 2484-SD – Second Draw Lender Guaranty Application (Released 1/8/21)
- Form 3508S – Loan Forgiveness Application Instructions (Revised & Released 1/19/21)
Updated Guidance & Resources (January 2021)
- Accessing Capital for Minority Underserved, Veteran and Women-Owned Business Concerns Guidance (Released 1/6/21)
- Top-Line Overview of First Draw PPP Loans (Released 1/8/21)
- Top-Line Overview of Second Draw PPP Loans (Released 1/8/21)
- Interim Final Rule #1 – PPP as Amended by Economic Aid Act (Released 1/6/21)
- Interim Final Rule #2 – PPP Second Draw Loans (Released 1/6/21)
- Procedural Notice – Modifications to SBA Forms 3506, 3507 and 750 CA (PPP only) (Released 1/8/21)
- Procedural Notice – SBA Procedural Notice on Repeal of EIDL Advance Deduction Requirement (Released 1/8/21)
- FORGIVENESS APPLICATIONS (Updated forgiveness applications are expected in 2021.)
- Forgiveness Application (6/16)
- Forgiveness Application Instructions
- EZ Application (6/16): For borrowers that are self-employed and have no employees, OR did not reduce wages of their employees by more than 25% and did not reduce the number of hours worked, OR experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce salaries or wages by more than 25%.
- EZ Application Instructions
- Lenders Accepting Applications from Non-Customers / New Customers (4/24)
- SBA’s Lender Locator Tool (4/2)
- Borrower Information Fact Sheet (Note: Interest is 1%.)
- FAQ Regarding Faith-Based Organizations
- SBA Affiliation Rules
- Upcoming training events (webinars) are available here.
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