Small Business Administration Assistance

In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak. Details are provided below.

Payment Protection Program Support

Detroit Means Business has partnered with MBAs Fight COVID-19 to provide free one-on-one support to help you understand and apply for potential grants through PPP and EIDL. Sign up for support from an MBA student with the following:

  • PPP applications
  • PPP forgiveness
  • EIDL applications
Sign Up for Free Support

PPP applications have reopened. The U.S. Small Business Administration (SBA) is offering small businesses loans through its Paycheck Protection Program (PPP). The PPP Flexibility Act was signed into law on June 5, 2020. We will make updates to information on this page as the SBA provides new PPP guidance.


  • Maximum loan amount: $10MM
  • No collateral or personal guarantees
  • New loans now have a 5-year maturity (existing PPP loans still have a 2-year maturity); 1% interest rate
  • All principal and interest payments on the PPP loan are deferred until the forgiveness amount is determined and communicated to the lender by SBA
  • No new loans can be authorized after August 8th


  • Any small business concern that meets SBA’s size standards (either the industry based sized standard or the alternative size standard)
  • Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of 500 employees, or that meets the SBA industry size standard if more than 500
  • Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location
  • Sole proprietors, independent contractors, and self-employed persons


  • Loan forgiveness is based on the employer maintaining or rehiring employees and maintaining salary levels by December 31, 2020
  • Borrowers who can demonstrate the inability to rehire or find other qualified employees by the deadline, or can document an inability to return to the same level of business activity the business was operating at before February 15, 2020 due to meeting COVID-19 safety compliance will be able to receive loan forgiveness
  • Under the new law, you are eligible to be forgiven for the portion of the loan that is used to cover the first 24 weeks from the date the loan was paid out to you. (Borrowers who have already received PPP loans retain the option to use an eight-week covered period)
  • The loan can be forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities; however, 60% must be used for payroll
  • Borrowers are required to apply for loan forgiveness within 10 months of the covered period of the loan. Borrowers who do not apply within 10 months will be required to start submitting payments on principal, interest, and fees of the loan

Economic Injury Disaster Loan (EIDL)

In response to the Coronavirus (COVID-19) pandemic, small business owners currently experiencing a temporary loss of revenue are able to apply for an EIDL Advance of up to $10,000.

This loan advance will not have to be repaid. Recipients do not have to be approved for a loan in order to receive the advance, but the amount of the loan advance will be deducted from total loan eligibility. On June 15, SBA began accepting new EIDL and EIDL Advance applications from qualified small businesses and U.S. agricultural businesses.


  • Maximum loan amount: $15,000
  • The EIDL Advance (does not have to be repaid): Up to $10,000 ($1,000 per employee)
  • Interest rates: 3.75% for small businesses; 2.75% for non-profits
  • Term: Up to 30-years


  • Any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons) affected by COVID-19
  • Private non-profit organizations affected by COVID-19
  • 501(c)(19) veterans organizations affected by COVID-19
  • Business must have been in operation before January 31, 2020

Express Bridge Loan Pilot program

The Express Bridge Loan Pilot program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

Learn More

These loans can help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for EIDL. If a small business has an urgent need for cash while waiting for decision and disbursement on EIDL, they may qualify for an SBA Express Disaster Bridge Loan.


  • Maximum loan amount: $25,000
  • Maximum maturity: 7 years
  • Program expiration date: September 30, 2020
  • Will be repaid in full or in part by proceeds from the EIDL loan


  • Small businesses who currently have a business relationship with an SBA Express Lender
  • Must be located, at the time of the disaster, in a county that’s been declared as a disaster area, or any contiguous county
  • Must be used to support the survival and/or reopening of the small business within the affected county

SBA Debt Relief

As part of the coronavirus debt relief efforts, the SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020.

Learn More

This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans. Borrowers do not need to apply for this assistance. For current SBA Serviced Disaster (Home and Business) Loans: If your disaster loan was in “regular servicing” status on March 1, 2020, the SBA is providing automatic deferments through December 31, 2020.

Additional Information

SBA qualified lenders that accept new customers & provide documentation preparation services for PPP applications

SBA qualified lenders that accept new customers for PPP application

FAQs about PPP loan

Can I only apply for PPP once?

You can apply for PPP multiple times even if you’ve been rejected

Can I only apply for PPP through one lender?

You can submit applications through more than one lender to increase your chances of obtaining funding, but you will only receive a maximum of one loan

Do I need to have an existing relationship with a lender in order to apply?

You do not need to have an existing relationship. Please see the list of qualified lenders accepting new clients on this page

Will the PPP loan automatically be forgiven?

In order to be eligible for forgiveness, you need to follow the parameters for spending the funds, document your business expenses for at least 8 weeks after receiving the PPP loan, and submit an application.

Is PPP for self-employed individuals too?

Sole proprietors, independent contractors, and self-employed persons may be eligible for PPP

Who should I talk to if I have additional questions?

You can get additional assistance by filling out our request form here or contact us at our call center directly 844-333-8249

What if I have been approved for a PPP loan, but my employee cannot return to work because they are sick or caring for a sick relative?

This will not impact your PPP loan forgiveness as long as you document it properly.

An employee who is sick or caring for a sick relative needs to complete the Families
First request form, including their healthcare provider information and documentation of illness.

Provide this documentation to your lender to ensure that these employees are not counted against your PPP headcount.

The Families First forms can be found at

What if I have been approved for a PPP loan, but one of my employees left without notice and will not complete the form?

This will not impact your PPP loan forgiveness as long as you document it properly.

Send a letter to the employee that will not respond. In the letter, include:

• The times that you have tried to contact them
• Notice that this is job abandonment
• Notice that you are forwarding a copy of the letter to the MI Unemployment Agency

Request help

Request help

We are always here to help. Fill out this form for free support with: PPP loan application, one-on-one coaching, health & safety guidance, and general inquiries.

Talk to us

Talk to us

Our COVID-19 SMB Call Center is open to take calls Monday - Friday 9am - 5pm.

Call us at 844-333-8249

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