Solera Small Business Loan Accelerator for Identifix Customers
COVID-19 Small Business Loan Accelerator Helps Business Owners Access CARES Act Relief
The impact of COVID-19’s unprecedented disruption to organizations and individuals across the globe has hit small businesses particularly hard. The U.S. passed the CARES Act in response to small businesses needing critical financial assistance, however, determining eligibility and applying for different options can be difficult and potentially delay access to funds.
Are you a small business impacted by COVID-19? You may be eligible for financial assistance through the CARES Act and the SBA, as funding is approved. The COVID-19 Small Business Loan Accelerator can help you get started.
As a part of Identifix’s ongoing efforts to help our communities navigate these complex times, we’ve developed the COVID-19 Small Business Loan Accelerator in partnership with Quick Base and Vista Equity Partners.
What is the Small Business Loan Accelerator?
It’s a free, publicly available online tool that helps small business owners quickly evaluate their eligibility for the different financial assistance programs offered by the Small Business Administration (SBA) and guides them in preparing their applications.
With the Small Business Loan Accelerator app, you can determine your business’s eligibility for the:
- Paycheck Protection Program (PPP): This program provides 100% federally guaranteed loans to employers who maintain their payroll during this emergency.
- Economic Injury Disaster Loans (EDIL): These lower interest loans of up to $2 million are available to pay for expenses that could have been met had the disaster not occurred.
- Small Business Debt Relief Program: This program provides a financial reprieve to small businesses during the COVID-19 pandemic.
- 7(a) Loans: The SBA’s primary loan for providing financial assistance to small businesses—terms and conditions vary by specific loan type.
How does it work?
You simply visit the application page here, and:
- Answer a series of short questions about you and your business.
- Learn what programs you’re eligible for.
- Your forms will be filled out automatically and ready for you to submit to your preferred provider.
You can learn more about the COVID-19 Small Business Accelerator here.