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U. S. SBA’s West Virginia District Office debunks common Paycheck Protection Program and Economic Injury Disaster Loan Myths

Q&A with SBA hosted every Tuesday, Thursday in July

From the U.S. Small Business Administration:

CLARKSBURG, W.Va. – The U.S. Small Business Administration’s West Virginia District Office is hosting Q&A with SBA every Tuesday and Thursday at 2 pm this month to help small business entrepreneurs get their Paycheck Protection Program and Economic Injury Disaster Loan program questions answered quickly. 

The West Virginia District Office has trained nearly 8,000 participants on COVID-19 relief for small businesses offered by the agency since the pandemic hit in March.

Participants are encouraged to participate in the Microsoft Teams meeting electronically by clicking here but can also dial in by phone by calling 202-765-1264 and using Conference ID 402791363#. 

“Our team is trying to get the correct information into the hands of the smaller business owners – the ones that don’t have accountants and attorneys they can turn to for answers,” stated SBA West Virginia District Director Karen Friel. “We trained thousands of small business owners on PPP and EIDL but we are still noticing a lot of independent contractors and sole proprietors don’t understand that they are qualified for these programs.” 

Myth’s such as “You can’t get a PPP loan if you don’t have any employees,” and “You can’t get and EIDL if you already received the PPP,” can be detrimental to small business owners that really need help. 

The truth is sole proprietors and independent contractors ARE eligible for PPP and you can utilize both the PPP and EIDL programs. Entrepreneurs are encouraged to submit questions in advance at [email protected]

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