CARES Act Informaton
For help with applications and more information, please contact:
SBA West Virginia District Office
The US Small Business Administration provides local assistance via 68 district offices and a nationwide network of resource partners. To find resources near you, please visit their Local Assistance page.
WV Small Business Development Center
SBDC WVU Center: Sharon Stratton
Phone: (304) 293-5839 | Email: email@example.com
SBDC Morgantown Center: Frank Goldsborough
Phone: (304) 945-3040 | Email: firstname.lastname@example.org
PPP Application Deadline has been extended to August 8, 2020.
Paycheck Protection Program
The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, posted a revised, user-friendly Paycheck Protection Program loan forgiveness application implementing the PPP Flexibility Act of 2020.
In addition to revising the full forgiveness application, the SBA also published a new “EZ” version of the forgiveness application applying to borrowers who:
- Are self-employed and have no employees; OR
- Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
- Experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%
Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period. These changes will result in a more efficient process and make it easier for businesses to realize full forgiveness of their PPP loan.
Economic Injury Disaster Loan Program
On Monday, June 15, the SBA reopened the EIDL portal to allow new applications from eligible small businesses that were not able to apply for the loan/advance program earlier this year. There is no indication of how long the portal will remain open, so it’s important that interested eligible businesses apply as soon as possible. More information can be found at the link below. Read the Press Release
These documents are intended to provide guidance and does not constitute legal advice. It also does not replace official implementation from the relevant agencies. All information on this page is gathered from federal agencies and state representatives.