Organizations cannot accept funds from both programs, but they are welcome to apply to both and determine which one is the best fit before signing off on final terms.

COVID-I

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the coronavirus (COVID-19). Upon a request received from a state’s or territory’s governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.

COVID-III

The most recent COVID-19 stimulus package expected to become law includes a new SBA loan program, the Paycheck Protection Program, as well as a grant program associated with the EIDL program. The Paycheck Protection Program is intended to keep workers on small business payrolls through offering forgivable loans. The EIDL grant program offers small businesses a one-time $10,000 grant to cover costs in the short term.

The Paycheck Protection Program

Applies to you if:

What it does:

How you can access it:
Contact one of SBA’s preferred lenders – https://www.sba.gov/partners/lenders/microloan-program/list-lenders.

Emergency Economic Injury Disaster Loan (EIDL) Grants

Applies to you if:

What it does:

How you can access it:

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