Small Business
Administration
Relief
Count on BBIF
Your partner in times of crisis.
Small Business
Administration
Relief
Count on BBIF
Your partner in times of crisis.
BBIF Florida has partnered with Black and minority businesses throughout the state of Florida for over 30+ years. We understand that these small businesses are the backbone of local economies. In the wake of the economic challenges of the COVID-19 pandemic, we’re here for you.
The Coronavirus Aid, Relief and Economic Security (CARES) Act provides approximately $2.2 trillion of fiscal stimulus to the economy. We’re grateful to our long standing partnership with SBA, and as an SBA-preferred lender, we’re working diligently to provide hardship relief loans to our business clients and other underserved businesses.
PAYCHECK PROTECTION PROGRAM (PPP)
Paycheck Protection Program (PPP) Policy Update – Friday, January 8, 2021
SBA, in consultation with the Treasury Department, has recently released additional PPP forms and guidance:
Updated First Draw Forms
- Form 2483 – First Draw Borrower Application (Updated 1/8/21)
Second Draw Forms
- Form 2483-SD – Second Draw Borrower Application (Released 1/8/21)
Guidance & Resources
- Accessing Capital for Minority Underserved, Veteran and Women-Owned Business Concerns Guidance (Released 1/6/21)
- Top-Line Overview of First Draw PPP Loans (Released 1/8/21)
- Top-Line Overview of Second Draw PPP Loans (Released 1/8/21)
- Interim Final Rule #1 – PPP as Amended by Economic Aid Act (Released 1/6/21)
- Interim Final Rule #2 – PPP Second Draw Loans (Released 1/6/21)
- Procedural Notice – Modifications to SBA Forms 3506, 3507 and 750 CA (PPP only) (Released 1/8/21)
- Procedural Notice – SBA Procedural Notice on Repeal of EIDL Advance Deduction Requirement (Released 1/8/21)
For more information and updates, visit SBA.gov/PPP or Treasury.gov/CARES
ECONOMIC INJURY DISASTER LOANS (EIDL)
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. The EIDL Loans has loan amounts for up to $2 million to be used for operational expenses to keep your business running. Rates are capped at 2.75% for non-profits and 3.75% for for-profit businesses.
Use loan funds for:
