 TITLE: 8 Ways to Get Emergency Financing for Your Small Business CONTENT: 1\\. Small Business Administration (SBA) Loans\n---------------------------------------------\nIf your business has been affected by COVID-19, start by investigating what benefits or relief you may be eligible for through the Coronavirus Aid, Relief and Economic Security (CARES) Act. This emergency stimulus package includes SBA-guaranteed loans that can help you pay employees, access emergency cash and get six months of debt relief on qualifying loans. The initial phase of the program quickly ran out of funds, but on April 24, the president signed a bill appropriating over $320 billion for Paycheck Protection Program (PPP) loans, with about $60 billion of that set aside for small businesses, as well as $60 billion for the SBA disaster relief fund.\nIf you already have a relationship with an SBA lender, you may be eligible for the SBA Express Bridge Loan, which provides up to $25,000 with the expectation the money will be repaid from an Economic Injury Disaster Loan (EIDL).\n**Pros**: PPP loans may be eligible for forgiveness if used for approved purposes and if employees are kept on payroll. Emergency Economic Injury Grants of up to $10,000 do not have to be repaid. Both EIDL and Express Bridge loans promise fast turnaround.\n**Cons**: High demand means the program may quickly run out of money again; if you don't have an existing relationship with an SBA lender, it may be difficult to get approved. END