Small Business Administration
Guidance & Loan Resources
An EIDL is a lower-interest working capital loan up to $2 million. The loan’s allowable usage include: employee salaries, various payroll related support (paid leave, health care benefits, etc.), mortgage, rent, utilities, and any other debt obligations.
In response to the COVID-19 pandemic, small business owners are eligible to apply for an EIDL advance up to $10,000 that does not need to be repaid under any circumstance.
For more information on the EIDL Program, click here.
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.
For more information on PPP Loans, click here.