Congresswoman Frederica Wilson

Representing the 24th District of Florida

COVID-19 Relief for Small Businesses

The interim Paycheck Protection Program and Health Care Enhancement Act added $310 billion of funding for SBA loans, $60 billion of which has been set aside to enable small banks, community financial institutions, and credit unions. Empowering community lenders is critical to reaching women, minority and veteran-owned businesses that were overlooked during the first round of PPP funding. The legislation also includes an additional $60 billion for disaster loans and grants

Small and medium sized businesses with up to 500 employees, non-profits, independent contractors and the self-employed are eligible to apply for these loan programs. Churches may also apply, but only to cover payroll costs of an associated business, like a thrift store.

PPP loans are 1 percent of 2.5 times a small business’ monthly payroll, up to $10 million dollars. This loan is 100 percent guaranteed by the federal government, no collateral or personal guarantees necessary. Additionally, loans are forgiven if businesses keep all of their workers.

Below we will walk through how to apply for this loan program, as well as what the entry requirements are to apply.


To apply for a PPP loan, your business or self-employment must:

  • have been in operation on February 15, 2020;
  • employ fewer than 500 people (or fewer than 1,500 for select types of businesses); and
  • be affected by COVID-19.

Your application must certify that:

  • current economic uncertainty makes the loan necessary to support your ongoing operations;
  • the funds will be used to retain workers and maintain payroll or to make mortgage, lease, and utility payments; and
  • you have not received or are slated to receive another PPP loan.


Traditional Banks

Many banks are requiring applicants to already have existing business relationships with them. Community banks, credit unions, microlenders, and financial technology companies may be a better route for smaller businesses.

Thoroughly review the loan application form at to ensure you have all of the requisite documentation and complete a paper copy of the form even if your bank will be using an online process and application.

You may also complete 
this quick application from Quick Base  in a wizard-based format that will create a printable document that you can take to your bank. It includes the full set of requirements and records needed to properly answer and calculate application questions. You also will need your company’s payroll records, reports and 941 IRS payroll filings.

SBA-Approved Community Banks Accepting New Customers

Contact a community bank, credit union or other microlender in your area that participates in SBA loan programs. Using your ZIP code, the SBA bank finder link at will direct you to participating lenders near you.

Financial Technology Companies

The SBA has approved several financial technology (fintech) companies to provide loans directly or through partner banks. These companies provide financial services through software or other technology. It may be easier for some businesses owners to secure a loan through these companies. Be sure to have all of the required documentation on hand before you begin filling out the application.