FAQs for Those Seeking Small Business Loans Under New Stimulus Law

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Source: National Association of Home Builders

The Coronavirus Aid, Relief and Economic Security (CARES) Act expands the Small Business Administration’s (SBA) 7(a) loan program to include nearly $350 billion for a small business program called the Payroll Protection Program.

The Payroll Protection Program is not provided through SBA directly, so the first step to qualifying for a loan through the Payroll Protection Program is to find an SBA-approved lender in your community. If your bank is not an SBA lender, you can contact the SBA at 1-877-475-2435 to find one; or visit the SBA website section on the 7(a) loan program. If you have trouble getting through to the national SBA office, this link will take you to your district office.


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NAHB has put together FAQs on how to apply for a small business loan under the Payroll Protection Program, who is eligible and much more.

View the FAQs

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