Transcription of Frequently Asked Questions: COVID-19 Economic Injury ...
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Frequently Asked Questions: COVID-19 Economic Injury ...
Frequently Asked Questions COVID-19 Economic Injury Disaster Loan (EIDL). 1. What is the difference between Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP)? Economic Injury Disaster Loan (EIDL) Paycheck Protection Program NO LONGER AVAILABLE. DESCRIPTION Long-term direct loan program from the Loans made through nearly 5,500. SBA lenders across the country PURPOSE To meet financial obligations and Designed to provide an incentive for operating expenses that could have small businesses to keep workers on the been met had the disaster not payroll. occurred. AMOUNT Six months of working capital. Up to $10 million AVAILABLE. TERMS APR (fixed): businesses 1%. APR (fixed); non-profits 2 years or 5 years, depending on when loan was approved 30 years COLLATERAL Required for loans over $25,000 No collateral required PERSONAL Requires a personal guarantee only Not required GUARANTEE?
Frequently Asked Questions COVID-19 Economic Injury Disaster Loan (EIDL) 1. What is the difference between Economic Injury Disaster Loan ( EIDL) and the Paycheck ... The process will vary depending on reason for decline. ... who are currently suspended or debarred from contracting with the f ederal government or receiving federal grants or ...
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