Small businesses have been significantly affected by COVID-19, and we understand that you need financing more than ever. SCORE can help.

Our expert mentors can support you in addressing your financial needs and navigating through this difficult time. 

man and woman have a video callSCORE mentors can assist you with your financial questions. Here are ways that SCORE can help:

  • SCORE mentors can help you identify funding sources. 
  • We can work with you on your financial statements and other information that you'll need to prepare to apply. 
  • Once you receive your loan, our mentors can help you determine how best to use the funds to ensure your business's survival.
  • If you're denied a loan, we can help you figure out your next steps and find alternate sources of funds.

SCORE mentors can meet with you remotely—by phone, email, and video —so you can get the financing to keep your business running.

Find a SCORE Mentor Today

The Coronavirus Aid, Relief, and Economic Security (CARES) Act

The CARES Act established new financial assistance programs for small businesses of up to 500 employees. The new initiatives included the Paycheck Protection Program, SBA Express Bridge Loans, SBA Debt Relief, and Advances for Economic Injury Disaster Loan Program (EIDL).

Paycheck Protection Program (PPP)

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. The funding for PPP lapsed on April 16th, but on April 24th, additional funding was approved for the program.

UPDATE: The Small Business Administration resumed accepting PPP loan applications on Monday, April 27 at 10:30 AM EDT from approved lenders on behalf of any eligible borrower.

SBA Debt Relief

This program will provide immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans. The SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months. Learn more about the SBA Debt Relief program.

SBA Express Bridge Loans

These loans allow small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. Learn more about SBA Express Bridge Loans.

Economic Injury Disaster Loan (EIDL) and Loan Advances

As of May 4th, the SBA is accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications for only U.S. agricultural businesses on a limited basis. Learn more HERE.

However, the SBA is unable to accept new applications for other industries for the Economic Injury Disaster Loan (EIDL) Program based on available appropriations funding. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. If you have already applied for an EIDL loan, you can still apply for a $10,000 EIDL Advance.

Other Lending Options

SBA provides a number of loan resources for small businesses to utilize when operating their business. Read more about SBA-guaranteed loans or how to connect with a lender.

More details about the CARES Act:

Learn about the SBA Coronavirus Relief Options

woman on video call on laptop Remote SCORE Mentors are Available

For assistance in finding funding sources for your business and for all business advice, connect with a SCORE mentor.

SCORE mentors are available to work REMOTELY via phone, email, and video. We are here to support you during this difficult time.

Find a Remote SCORE Mentor

For more information and tools related to coronavirus business support programs, visit our Coronavirus Small Business Resource Hub.