Have you or your business been negatively impacted by COVID-19?

In the wake of COVID-19 many businesses have faced financial loss and many business owners have been forced to make difficult decisions that have negatively impacted their business. Thankfully, through local partnerships, federal relief funding and several in-house products, we have been able to provide financial relief for individuals and businesses alike.

Below is a list of federal relief programs. If you would like to apply and are curious about your eligibility or need help reviewing your application, please reach out to us. Whether you are a current client of CW or not, we would be happy to help however we can.

PPP Advisory

PLEASE BE ADVISED THAT THE FUNDING FOR PPP MAY END AT ANY TIME. WE HAVE RECEIVED A LARGE NUMBER OF APPLICATIONS AND CANNOT GUARANTEE WE WILL BE ABLE TO PROCESS ALL OF THEM. EVEN IF WE ARE ABLE TO PROCESS YOUR APPLICATION, WE DO NOT GUARANTEE THAT THE LOAN WILL BE APPROVED BEFORE FUNDS ARE DEPLETED. 

PAYCHECK PROTECTION PROGRAM

The SBA has updated its rules regarding the PPP loan process. Please read through the instructions before submitting your application.

NOTE: If you file a Schedule C you may now use line 7 (gross income) instead of line 31 (net income).

FIRST TIME BORROWERS

Eligible first time PPP borrowers:

  1. Cannot have received a PPP loan in 2020.
  2. Must show proof of being in business prior to February 15, 2020.
  3. Must be located in South Carolina.
  4. The loan amount cannot exceed $100,000.00.
  5. Do not include any EIDL Loan amounts as we are not able to refinance EIDL loans.

To apply you must submit:

  1. A completed PPP application (download online while applying)
  2. Loan Calculation Form (Click here to download).  Please use this in place of the online calculator in the application link. If you are a partnership please use the online calculator.
  3. Documentation to substantiate the payroll expense
  4. Proof of business existence prior to February 15, 2020.

Items to submit with the online application:

  • Application
  • 941 reports for either 2019 or 2020 depending on the time frame you are applying for
  • The Loan Calculation Form
  • Sole proprietors and independent contractors will need to submit either a 2019 Schedule C or complete a Schedule C for 2020 depending on the timeline you are applying for.
  • Articles of Incorporation/Organization of each borrowing entity, if applicable (i.e. Corporation, LLC, Partnership, Nonprofit).
  • Certificate of Existence, if applicable.
  • By-Laws/Operating Agreement of each borrowing entity, if applicable.
  • Copies of driver’s licenses for all beneficial owners (own 20% or more of the company or authorized individual for nonprofits).
  • Copy of a voided check or Direct Deposit form.
  • If filing using 2019 payroll/tax return please provide a copy of a current business bank statement showing the business is still operating.

SECOND TIME BORROWERS

Eligible second time PPP borrowers:

  1. Must have received a first round PPP loan in 2020.
  2. Must be able to document a 25% decrease in gross income in 2020 when compared to 2019.
  3. Must provide a copy of the first time PPP loan note if you did not receive it from CommunityWorks.
  4. Must show proof of being in business prior to February 15, 2020.
  5. Must be located in South Carolina.
  6. The loan amount cannot exceed $100,000.00.
  7. Do not include any EIDL Loan amounts as we are not able to refinance EIDL loans.

To apply you must submit:

  1. A completed PPP application (download online while applying)
  2. Loan Calculation Form (Click here to download).  Please use this in place of the online calculator in the application link. If you are a partnership please use the online calculator.
  3. Documentation to substantiate the payroll expense.
  4. Proof of business existence prior to February 15, 2020.
  5. Proof of a 25% decrease in gross income in 2020 versus 2019 using either an identical quarter or the entire year.

Items to submit with the online application:

  • Application
  • Copy of your First Time PPP loan note if you did not receive your loan from CommunityWorks.
  • Proof of the 25% decrease in gross income.
  • 941 reports for either 2019 or 2020 depending on the time frame you are applying for.
  • The Loan Calculation Form
  • Sole proprietors and independent contractors will need to submit either a 2019 Schedule C or complete a Schedule C for 2020 depending on the timeline you are applying for.
  • Articles of Incorporation/Organization of each borrowing entity, if applicable (i.e. Corporation, LLC, Partnership, Nonprofit)
  • Certificate of Existence, if applicable.
  • By-Laws/Operating Agreement of each borrowing entity, if applicable.
  • Copies of driver’s licenses for all beneficial owners (own 20% or more of company or authorized individual for nonprofits).
  • Copy of a voided check or Direct Deposit form.
  • If filing using 2019 payroll/tax return please provide a copy of a current business bank statement showing the business is still operating.

Reminders:

  • Spend at least 60% of forgivable funds on payroll
  • We recommend selecting 24 weeks as your Covered Period

Prior to clicking the “Apply Now” button below, please click HERE to download the instructions for navigating the online portal.

PAYCHECK PROTECTION PROGRAM SECOND DRAW LOANS

All who are eligible can apply for a first time PPP loan. However, at this time CommunityWorks is only accepting 2nd draw applications from clients who obtained their PPP loan from CommunityWorks in 2020. If you received a PPP loan from CommunityWorks in 2020, please check your email for information on how to apply.

SBA Express Bridge Loans

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

SBA Loan Deferrals for 7(a)

The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months.

SBA Loan Deferrals for Microloans

The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.

Greenville County Rental & Utility Assistance

Greenville County has launched the Emergency Rental Assistance Program (“ERAP”). This program will provide residential rent and utility assistance for qualified residents of Greenville County.

Facing eviction?

The CDC moratorium on evictions was extended until March of 2021. You must provide your landlord with an affidavit form. It is best to hand it to your landlord if you can, but for proof, consider also sending it via certified mail, return receipt requested, and to provide a copy to the court if you receive a summons for evictions. Click here to learn more.

Crisis Business Coaching

Has your business been affected by COVID-19?

Sign up for a session with one of our business advisors to find out if you qualify for free business coaching to update your business plan.

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