Financial Help For Transportation Companies During The COVID-19 Pandemic

1stTruckingFactoring
04-5-20

If your trucking company or freight brokerage business is struggling due to the coronavirus crises, you should know that there is financial help available through the Small Business Administration (SBA), which includes traditional SBA programs, and several new temporary programs via the recently established CARES Act containing $376 billion in relief for small businesses and US workers.

THE PROGRAMS ARE:

PAYCHECK PROTECTION PROGRAM (PPP)

The PPP program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.

EIDL LOAN ADVANCE

The EIDL economic relief program is a loan advance of to $10,000 to companies that are presently experiencing temporary difficulties.

SBA EXPRESS BRIDGE LOANS

The SBA Express Bridge Loans allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

SBA DEBT RELIEF

SBA Debt Relief is a financial reprieve by the SBA to small businesses during the COVID-19 pandemic.

To learn more, please CLICK HERE