Resources for Small Businesses Impacted by COVID-19

SBIA is the Voice of Private Equity and is the source of quality information for small business investors.

In an effort to help all American small businesses and to support as many American jobs as possible, we maintain a public website with important information.
This “SBIA Resources Page” is constantly updated with new information that small businesses and fund managers need to know.
Please feel free to share this page with anyone looking for quality information.


Treasury and SBA Mobilize to Distribute Funds

SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with capital. The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. To find out more, click here >

*NEW* SBIA LETTER ON AFFILIATE RULE: SBIA sent a letter to Treasury Secretary Mnuchin and SBA Administrator Carranza re: access to the new Paycheck Protection Program (“PPP”) emergency loans. Download the letter >

*NEW* PODCAST WITH SEN. RUBIO: Senator Marco Rubio, Chairman of the U.S. Senate Committee on Small Business & Entrepreneurship, discusses financial relief for small businesses from CARES Act “Paycheck Protection Program” — who qualifies, how to apply, and loan forgiveness. Listen to the podcast >

*NEW* HOUSE FINANCIAL SERVICES CHAIR LETTER ON PPP AFFILIATION RULE: U.S. Rep. Maxine Waters, Chair of the House Committee on Financial Services, sent a letter Treasury Secretary Mnuchin and SBA Administrator Carranza re: the affiliate rule. See the full letter >

JOINT CONGRESSIONAL LETTER ON AFFILIATE RULE: Four Members of Congress sent a joint letter to Treasury Secretary Mnuchin and SBA Administrator Carranza re: the affiliate rule. Download the letter >

SPEAKER PELOSI LETTER ON PPP AFFILIATION RULE: House Speaker Nancy Pelosi has sent a letter to Treasury Secretary Mnuchin and SBA Administrator Carranza regarding application of the affiliation rule to the Paycheck Protection Program. See the full letter >

U.S. CHAMBER OF COMMERCE PRIMER: The U.S. Chamber of Commerce has produced a small business guide and checklist for SBA emergency loans. Download the primer >



At SBIA, we are doing everything we can for our members as bills are introduced in Congress to provide relief from the economic impact of the Coronavirus. As things move quickly, we will use this page to share information and resources as soon as they are available.

SBIA SUMMARY OF CARES ACT: This is a top-line summary of the small business provisions in the final version of the CARES Act, the Senate’s emergency economic relief package. Download the summary >

Letter to Treasury Secretary and Fed Chairman: U.S. Sen. Mike Crapo, Chairman of the Senate Banking, Housing and Urban Affairs Committee, has urged Treasury and the Federal Reserve to work quickly to help businesses understand what programs and facilities are available and how to access and apply for assistance. Download the letter >

CARES ACT: Please find the FULL TEXT of the Stage 3 emergency economic stimulus package below as well as multiple section specific summaries. Information will be added as it becomes available.

PRICE LETTER: House Subcommittee Chair David E. Price (D-NC) summarizes funding for Transportation, HUD See the full text of the letter >

SCHUMER LETTER: U.S. Sen. Chuck Schumer sent a letter highlighting Democrat adjustments to the bill. See the full text of the letter >

PELOSI STATEMENT: U.S. House Speaker Nancy Pelosi released a statement on the Senate legislation. See the full statement here >



SBA Affiliation Regulations Impacting Eligibility for Paycheck Protection Program 7(a) Loans
By Christopher A. Rossi, Pepper Hamilton

Guide to SBIC Fund Administration
By PEF Services



On March 30, the Treasury Department and the Internal Revenue Service announced that economic impact payments will begin in the next three weeks.



The SBA is deploying all tools within its discretion to assist small businesses impacted by COVID-19. As additional resources become available, they will be highlighted here.



The SEC continues to undertake operational initiatives, market-focused actions, and investor protection efforts as well as enact targeted assistance and relief in response to the effects of COVID-19.



The Federal Reserve is mandated by Congress to promote maximum employment and stable prices, as well as the stability of the financial system, and is currently utilizing a range of tools to support households, businesses, and the U.S. economy.


GETTING IN TOUCH: We are able to take in and share information much more effectively via email than by calls or texts, so please email staff directly with any concerns, questions or feedback.  You can also email  All SBIA staff have access to this account.

BE AT THE TABLE OR BE ON THE MENU: SBIA is the single most effective advocate in Washington on behalf of lower middle market private equity funds and continues to lead the advocacy effort for lower middle market private equity firms with members of Congress during the COVID-19 pandemic. As the classic saying goes, “If you don’t have a seat at the table then you are on the menu”. Not a member? JOIN SBIA NOW > 

Download a PDF to send colleagues interested in joining SBIA >

SBIC SURVEY: SBIA surveyed the small business portfolios of Small Business Investment Companies to measure the impact the pandemic is having on operations and employment.

Find the results here >

USEFUL RESOURCES: SBIA has compiled an interactive PDF with links to websites providing up to the minute information on Coronavirus-related assistance, resources, and state by state updates.

Download the PDF >

LETTER TO SEC CHAIR: On March 21, SBIA sent a letter on behalf of the BDC industry requesting temporary measures to support capital flow into small- and medium-sized businesses.

Find the letter here >