Where Your Business Comes First

COVID Relief Loans

$1,000 – $2,000,000

Loan Amount

Apply Now for PPP
Apply Now for EIDL

How much are you looking for?

Where Your Business Comes First

COVID Relief Loans

$1,000 – $2,000,000

Loan Amount

Apply Now for PPP
Apply Now for EIDL

How much are you looking for?

Paycheck Protection Program (PPP)

percent

1% fixed rate APR

For the lifetime of the loan

calendar

Loan forgiveness

For payroll, mortgage, interest, rent and utilities

Loan Amount up to $2,000,000

time

5 Year Terms

Apply Now for PPP

Economic Injury Disaster Loan (EIDL)

percent

3.75% fixed rate APR

For the lifetime of the loan

calendar

Payment Deferral Up to 12 Months

Loan Amount up to $150,000

time

30 Year Term

Apply Now for EIDL

Many small businesses across the US need financial help right now during the current state of our economy. The federal government has stepped in to offer PPP and EIDL loans to those businesses in need. Because of the pared-down SBA requirements, more small businesses will qualify the SBA coronavirus loans than previous loan options.

Paycheck Protection Program (PPP)

percent

1% fixed rate APR

For the lifetime of the loan

calendar

Loan forgiveness

For payroll, mortgage, interest, rent and utilities

Loan Amount up to $2,000,000

time

5 Year Terms

Apply Now for PPP

Economic Injury Disaster Loan (EIDL)

percent

3.75% fixed rate APR

For the lifetime of the loan

calendar

Payment Deferral Up to 12 Months

Loan Amount up to $150,000

time

30 Year Term

Apply Now for EIDL

Many small businesses across the US need financial help right now during the current state of our economy. The federal government has stepped in to offer PPP and EIDL loans to those businesses in need. Because of the pared-down SBA requirements, more small businesses will qualify the SBA coronavirus loans than previous loan options.

beauty salon loans
  • 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:

  1.      Apply.
  2.      Receive Loan Quote. This is an estimate of qualified loan amount; it does not mean the loan is approved.
  3.      Application Review. A Loan Officer will review the application for completeness and may contact the applicant if more information is needed.
  4.      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

Economic injury Disaster Loan (EIDL)

  • Up to $150,000
  • First payment deferred for 12 months
  • 30-year repayment term

  • 3.75% interest rate

Paycheck Protection Program (PPP)

  • Up to $2,000,000 in funding
  • Possible forgiveness available
  • 5 year repayment term
  • 1.00% interest rate

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

Apply Now for PPP
Apply Now for EIDL
hands-male-executive-showing-contract
hands-male-executive-showing-contract

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

Apply Now for PPP
Apply Now for EIDL