SBA disaster loan
- It can be used to pay fixed debts, payroll, accounts payable, bills, etc.
- 3.75% interest rate for small businesses, up to 30 years.
- The maximum amount of the unsecured loan is $ 25,000.
- Time of resolution of the loan of 2-3 weeks.
PPP (Paycheck Protection Program)
- For businesses that have started operations before February 15, 2020.
- Loan to cover 8 weeks for your employees.
- If you use it for payroll, the loan is forgiven. If you use it apart from payroll, the difference will be repaid at 4% and 10 years.