You may have multiple SBA loans but only one PP loan and one EIDL per business. Applicants are required to have a Social Security Number or EIN number. Here is a current list and summary of each SBA disaster loan programs available.

 Economic Injury Disaster Loan (EIDL)
 Economic Injury Disaster Loan (EIDL) Advance
 Paycheck Protection Program (PPP)
 SBA Debt Relief
 SBA Express Bridge Loan

How much can I borrow?
• Eligible entities may qualify for loans up to $2 million.
• The interest rates for this disaster are 3.75 percent for small businesses
and 2.75 percent for nonprofit organizations with terms up to 30 years.
• Repayment will start 12 months from date of the note
• No pre-payment penalties
How can I use the loan funds?
• Payroll costs, salaries, sick leave
• Rent or mortgage payments
• Material costs
• Pre-existing debt

EIDL Advance-
Any entity that is eligible to apply for a COVID-19 Economic Injury
Disaster Loan is eligible for the loan advance
• Up to $10,000
• Will be deposited within 3-5 business days
• No requirement to repay advance, even if denied for a disaster loan
• Applications submitted prior to March 30,2020 need to reapply at the new portal for the Advance.

Eligibility (in operation 2/15/2020)
o Under 500 employees, or over 500 but small by size standards
o Tax-exempt nonprofits 501(c)(3)
o Veterans organizations 501(c)(19)
o Tribal concerns
o Sole proprietor, independent contractor, self-employed (4/10)
o Payroll, interest on mortgage, rent, utilities
o Forgiven if used substantially for payroll – some requirements

SBA Debt Relief-
o Current 504, 7(a) and Microloan borrowers are eligible
o New 504, 7(a) and Microloan loans between 3/27/2020 and 9/26/2020 are also eligible
o Size Standards - standards
Loan Specifics
o Size of loan, interest rate, term, fees, use of proceeds, and collateral are determined by the 
loan program
o Information on SBA loan programs ins Resource Guide-ov/sites/default/files/files/resourceguide_3122.pdf

SBA Express Bridge Loan-
Current customers of SBA Express Lenders are eligible
o Apply with Express Lenders - 
o Loan amount up to $25,000 for up to 7 years
o Interest rate is Prime +6.5%
o Guarantee fee – 2% on guaranteed portion of loan
o Use for working capital
o Collateral not required
o Personal guaranty is required
o Lender can require loan to be repaid with disaster funds.
o options/sba-express-bridge-loans

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