BlogTalkRadio uses cookies. By using our services, you're agreeing to our Cookies Policy. Got it

Our Terms of Use and Privacy Policy have changed. We think you'll like them better this way.

SBA Small Business Loan Resources - PPP and EIDL Loans

  • Broadcast in Business
applecapitalgroup

applecapitalgroup

×  

Follow This Show

If you liked this show, you should follow applecapitalgroup.
h:261663
s:11718032
archived

SBA Small Business Loan Resources - PPP and EIDL Loans

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid. The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program. Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020. The Core Business Show with Tim Jacquet is sponsored by Apple Capital Group and Apple Community Development Corporation

Comments