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 and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less

On October 8, the U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.

    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 June 15th, the SBA has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19. The EIDL program offers long-term, low-interest assistance for a small business or non-profit. Additionally, the SBA is offering an EIDL Advance of up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid. Learn more about Economic Injury Disaster Loan (EIDL) and Loan Advances.

    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

    Visit the SCORE Small Business Resilience Hub

    We know that disasters and economic downturns bring unprecedented challenges. But what if you could do more than just survive? What if you could thrive?

    Our resilience hub offers training, resources, and remote mentoring to help your small business adapt and succeed.

    Learn More