The Small Business Administration also continues to assist small businesses with counseling and navigating their own preparedness plans. More info on the Paycheck Protection Program and other options such as low interest disaster loans can be found by visiting the SBA website. The website has been recently updated to include the Shuttered Venue Operators Grant Program, which provides emergency assistance for eligible venues.

The SBA’s Phoenix District Office is available to answer any questions you may have. You can reach them at either 602-745-7200 or through their website.

You can also contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or by e-mail at disastercustomerservice@sba.gov.

Paycheck Protection Program

Beginning on Monday, January 11, 2021, the Small Business Administration (SBA) and the Department of the Treasury will open the PPP to small businesses that have not received a first draw PPP and the entities that are newly eligible such as 501(c)(6)s.

Beginning on Monday, January 11, 2021, the Small Business Administration (SBA) and the Department of the Treasury will open the PPP to small businesses that have not received a first draw PPP and the entities that are newly eligible such as 501(c)(6)s.

The Monday, January 11, 2021, opening date will be reserved for community financial institutions, including Community Development Financial Institutions (CDFIs) to make first draw PPP loans.
These same community financial institution lenders will then be able to make second draw loans on Wednesday, January 13, 2021.

This program will provide cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans will be forgiven. The current deadline for applications is May 31, 2021. 

The Paycheck Protection Program Flexibility Act of 2020, which became law on June 5, 2020, extended the covered period for loan forgiveness from eight weeks after the date of loan disbursement to 24 weeks after the date of loan disbursement, providing substantially greater flexibility for borrowers to qualify for loan forgiveness.

 

IRS Employee Retention Credits

The Treasury Department and the Internal Revenue Service have launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. The American Rescue Plan has extended the Credit through December 31, 2021.

  • For more information and answers to frequently asked questions, click here

Additional Resources for Small Businesses 

Small Business Administration

Internal Revenue Service

Maricopa County Public Health

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