Our Loan Programs


SBAC can provide the following services for your business:

🔸Financing for new and existing businesses.

🔸Provision of debt and equity funds to new and existing businesses.

🔸Provision of management and technical assistance to small businesses in all phases of development.

Paycheck Protection Program


****SBAC stopped accepting PPP applications on June 30th, 2020****

Purpose

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

Maximum Amount

Loan amount is based on business size and need. Use this to calculate loan amount.

Eligible Businesses

The following entities affected by Coronavirus (COVID-19) may be eligible:

  • 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

To apply for the PPP through SBAC, your business must be based in our service area. Please check if your business’ zip code is eligible before applying.

All rates and terms subject to change without notice.

Small Business Assistance Corporation is a 501(c)(3) tax-exempt non-profit.