COVID-19 Funding Options

Update: The Paycheck Protection Program (PPP) application deadline has passed. The SBA is still currently accepting Economic Injury Disaster Loan (EIDL) applications.

SCKEDD Disaster Relief Program (SDRP)

The SDRP provides expedited loan financing for crucial working capital in amounts up to $25,000 for COVID-19 disaster-related purposes to small businesses located within the SCKEDD District. The application is available here. 

  • Eligible entities may apply for loans between $5,000 and $25,000

  • Fixed interest rates:

    • 1-3 years. 3.50%​

    • 4-7 years. 5.00%

  • Loan funds for working capital

  • First six months of principal & interest will be deferred

SDRP Requirements

  • Established (2+ years) for profit business located in the SCKEDD District 

  • Personal credit score (680+), completed application, personal, and business financials

  • Personal guarantor(s)​​

  • Loan fee $500

Please send the application and required documents in a single email to

IRS Employee Retention Credit

The Treasury Department and Internal Revenue Service launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19, More details are provided here.

  • Amount of the credit is 50% of qualifying wages paid up to $10,000 total

  • Wages paid after March 12, 2020 and before January 1, 2021 are eligible

  • Wages consider can also include a portion of the cost of employer provided health care

SBA Economic Injury Disaster Loan (EIDL)

Kansas small businesses impacted by COVID-19 can now seek individual small business loans with low interest rates up to $2 million as part of SBA's Economic Injury Disaster Loan program to help finance operational costs. More details are provided here.

  • Eligible entities may apply for loans up to $2 million

  • Interest rates are fixed up to 30 years at 3.75% for small businesses and 2.75% for non-profits

  • Financing can be used for working capital to help pay fix debts, payroll, accounts payable, and other bills that can't be paid as a result of the disaster

SBA Microloan

The SBA Microloan offered by SCKEDD is designed to provide financing opportunities to business owners that often face greater challenges obtaining funding including women-owned businesses, low-income individuals, veterans, minority entrepreneurs, and small business owners. Details about the loan and applications process are available here.

  • Up to $50,000

  • Rates between 8.125% and 8.5%

  • Financing may be used for working capital, machinery, equipment, furniture, fixtures, inventory, vehicles, and leasehold improvements

CARES Act Summary

Small Business Debt Relief

  • Section 1112 of the CARES Act requires the Small Business Administration (SBA) to make payments on all existing and newly funded SBA 504, 7(a), Community Advantage, and Express loans for six months, providing immediate and much needed relief, beginning April 1, 2020

  • If you have an existing SBA loan with us your payments will be made for the next six months (if you have questions, please contact

  • These are full payments of principal and interest plus any applicable fees

Paycheck Protection Program (PPP)

We are not funding PPP loans.

The best place for you to start an application would be with a bank that you currently use for your business or personal accounts. Financial institutions like banks or credit unions will be the primary providers of this loan program.

The Treasury Department has provided several useful documents about PPP. These documents can be found here.

  • $350 billion to support loans to small employers with more than one physical location that employees more than 500 employees in certain industries to be eligible and is below a gross annual receipts threshold plus those that meet the SBA size standards

  • Loan size will equal 250% of an employer’s average monthly payroll with a maximum loan amount of $10 million

  • Covered payroll costs include salary, wages, and payment of cash tips, employee group health care benefits (including insurance premiums, retirement contributions, and covered leave) in addition to mortgage, rent, and utility payments (click here for PPP loan calculator)

  • Fee waivers, automatic payment deferments of SBA 7(a) loans for at least 6 months and no more than one year, and no prepayment penalties will reduce the cost to lenders and borrowers

  • Loans will be available immediately through existing SBA-certified lenders (search lenders by zip code here)

  • SBA express loan maximums will increase from $350,000 to $1 million (these loans act as a revolving line of credit for working capital) Provides limitation on a borrower from receiving this assistance and an EID loan through SBA for the same purpose

  • The portion of the loan used for covered payroll costs, interest on mortgage obligations, rent, and utilities would be forgiven

  • Interest rates are fixed at 1%

SCKEDD's Response

SCKEDD is working hard to assist our small business borrowers in the midst of the COVID -19 pandemic.

A key objective is helping local businesses attain additional working capital to retain their employees during this unprecedented time.

SCKEDD is providing debt relief to assist business businesses in their efforts to retain employees.

Debt Relief 

In late March, all SCKEDD’s Small Business Administration (SBA) 504 loan, Community Advantage, and Microloan borrowers were relieved of any obligation to pay the principal, interest and any associated fees that are owed for a 6-month period beginning April 1, 2020.