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COVID-19 RELIEF PROGRAMS

The US Small Business Administration (SBA) has several pandemic relief programs available to Rhode Island businesses. We are available to help and can connect you to resources.

 

Please feel free to contact Isabel Marsh, Business Outreach Specialist, at isabel@newportchamber.com or call 401-847-1608

SBA Loan Programs

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COVID-19 Economic Injury Disaster Loan

The COVID-19 Economic Injury Disaster Loan (EIDL)  program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19.

 

The SBA is accepting new COVID-19 EIDL applications from all qualified small businesses, including agricultural businesses, and private nonprofit organizations. Apply Now


For EIDL applicants seeking EIDL Increases, please refer to the SBA's latest Frequently Asked Questions for COVID-19 Economic Injury Disaster Loan (EIDL)

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SBA Debt Relief Program

The SBA debt relief program is available to existing borrowers and provides payments on certain SBA-backed loans, including 7(a), 504 and microloans, to help small businesses. 

 

As a part of the CARES Act, SBA is authorized to pay six months of principal, interest, and any associated fees that borrowers owe for all 7(a), 504, and Microloans reported in regular servicing status, excluding PPP and EIDL loans. 

 

Borrowers need not apply for this assistance. SBA provides this assistance automatically.