Where Your Business Comes First
COVID Relief Loans
$1,000 – $2,000,000
Loan Amount
Where Your Business Comes First
COVID Relief Loans
$1,000 – $2,000,000
Loan Amount

Paycheck Protection Program (PPP) Loan Requirements
The requirements for PPP loans are made simple and easy for your business.. To quality you must have 2 of the following:
- Your business (or nonprofit) was in operation as of February 15, 2020
- You’re an independent contractor or sole proprietor, or your business/organization has either employees or independent
contractors for whom they have associated payroll costs - You certify that your business has sustained economic damage due to COVID-19
See, simple and easy for all your small business owners!
What Paycheck Protection Program (PPP) Loans Are For?
PPP loans were created help small businesses, maintain payrolls and continue necessary payroll-related payments like rent and utilities. You can use your PPP loan for the following:
- Payroll costs including: salaries, wages, commissions and cash tip payments
- Mortgage interest payments (but not payments on the mortgage principal)
- Rent/Utilities
- Interest on any other debt that incurred before February 15, 2020
How Paycheck Protection Program (PPP) Loans Are Calculated?
PPP loans are calculated based on 2.5 times your business’s monthly payroll costs. These costs include compensation, as outlined above, along with other payroll-related costs like retirement payments, state and local taxes on payroll, payment for vacation or paid leave, group healthcare costs, and allowances for separation or dismissal. For more information on what you can use the loan for and what is excluded, you can visit our PPP calculator, you can also get an estimate on your possible PPP loan amount here as well!
Economic Injury Disaster Loan Requirements (EIDL)
Applicants must be physically located in the United States or designated territory and suffered working capital losses due to the Coronavirus pandemic.
Eligible applicants include:
- Businesses with 500 or fewer employees or defined as small per SBA.
- Cooperatives with 500 or fewer employees
- Agricultural enterprises with 500 or fewer employees
- Most private nonprofits
- Faith-based organizations
- Sole proprietorships and independent contractors
Ineligible businesses include those engaged in illegal activities, loan packaging, speculation, multi-level sales distribution, gambling, investment, or lending.
What are Economic Injury Disaster Loans (EIDL) used for?
EIDL proceeds can be used to cover a wide array of working capital needs and normal operating expenses, such as:
- Continuation of health care benefits
- Rent
- Fixed debt payments
What is the process to receive an Economic Injury Disaster Loan (EIDL)?
There are four steps in the COVID-19 EIDL application process:
- Apply.
- Receive Loan Quote. This is an estimate of qualified loan amount; it does not mean the loan is approved.
- Application Review. A Loan Officer will review the application for completeness and may contact the applicant if more information is needed.
- Decision. A decision is made as to whether the application is approved or declined.
*IF APPROVED:
An email is sent to the applicant(s) to choose the loan amount and sign loan documents. Be sure to download a copy for your records. Loan proceeds are transferred to your bank account within 5-10 business days.
Product overview for EIDL and PPP
What is needed to qualify?
– Your business (or nonprofit) was in operation as of February 15, 2020
– You’re an independent contractor or sole proprietor, or your business/organization has either employees or independent contractors for whom they have associated payroll costs
– You certify that your business has sustained economic damage due to COVID-19


What is needed to qualify?
– Your business (or nonprofit) was in operation as of February 15, 2020
– You’re an independent contractor or sole proprietor, or your business/organization has either employees or independent contractors for whom they have associated payroll costs
– You certify that your business has sustained economic damage due to COVID-19