Information Videos on Paycheck Protection Program and Economic Injury Disaster Loan
SBA's Paycheck Protection Program (PPP) offers loans of up to $10 million in partnership with select banks. This is a forgivable loan to keep employees on payroll and maintain salary levels for 8 weeks. To be forgiven, at least 75% of the loan must be used for payroll, including the cost of employer-provided health benefits. If you've already laid off your employees, this loan provides the opportunity to hire them back. The Economic Injury Disaster Loan (EIDL) program provides low-interest loans and an advance grant for businesses impacted by COVID-19.