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SBA EIDL

(Economic Injury Disaster Loan)

As low as

3.75%

Fixed Rate for Businesses

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2.75%

Fixed Rate for Non-Profits

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30 Year Terms

SBA Economic Injury Disaster Loan Program

To assist small businesses impacted by COVID-19, the government has passed the CARES Act, which expands the existing SBA Economic Injury Disaster Loan program with an additional $20 BILLION in funding.
 
USE OF PROCEEDS

Working capital & normal operating expenses

Example: continuation of health care benefits, rent, utilities, fixed debt payments.​

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PAYMENTS

Deferred 1 year; interest still accrues
Borrower may make payments if they choose to do so.

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FORGIVABLE

  • NO – EIDL Loan

  • YES - EIDL Loan Grant

  • YES - PPP Loan (If all employee retention criteria are met & funds are used for eligible expenses.)

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SBA PPP LOAN ***REVAMPED***COMING SOON!

New Stimulus Package Includes

  • $600 Stimulus Checks

  • $20 Billion for EIDL

  • $25 Billion for Rent Assistance

  • $300 Extra Unemployment Insurance through Mid - March

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