COVID-19 Small Business Loan Resources

Resources for small business COVID-19 relief will be posted to this page as made available by Congress and the Small Business Administration (SBA).

To inform NCG’s advocacy efforts, co-ops are encouraged to notify NCG Senior Director of Advocacy & Sustainability, Allie Mentzer, of loans/grant amounts received and amounts forgiven as we are tracking these figures as a whole for the NCG food co-op system. If your loan/grant application is denied, we may be able to assist your communications with SBA.

Co-ops are encouraged to consult with their CPA and/or legal counsel to determine eligibility for these loans.

Paycheck Protection Program (PPP)

The PPP has closed and no new loans are available at this time. To apply for forgiveness on your loan, contact your lending institution. PPP loans under $150,000 may be eligible for forgiveness through SBA’s Direct Forgiveness Portal.

Economic Injury Disaster Loans (EIDL)

EIDLs are available through December 31, 2021. Food co-ops are eligible for EIDLs, which are administered through the SBA, and the EIDL application has an option to select “cooperative.” However, advocacy to improve SBA understanding of the cooperative model, including issues surrounding the personal guarantee, is ongoing and food co-ops’ experience with SBA’s process has varied.

NCG does not recommend that cooperatives indicate an individual person for the personal guarantee. Some co-ops have had success by putting the co-op’s name in the space provided on the application for “owner” and attaching an addendum, either a description of the cooperative model (e.g., membership and number of members) and/or a board resolution stating that the board of directors approves the financing application and authorizes the general manager to sign on behalf of the co-op. Co-ops may also find National Cooperative Business Association (NCBA) resources helpful, linked below.

See also Finance COVID-19 Resources and HR COVID-19 Resources.