• You need to have been in business by February 15, 2020.
• The loan amount is 2.5 months of avg monthly payroll (including paid sick leave, healthcare, taxes, and other benefits) for all your employees making less than $100,000, up to $10 million limit.
• The loan term is up to 10 years, with a max interest rate of 4%.
• Apply directly through your local lending institution/bank. (Must be an approved SBA lender.)
• Self-employed, sole proprietors, freelance and gig economy workers are eligible.
• No personal guarantee or collateral is required for the loan.
• Payments are deferred up to six to 12 months.
• You won’t be penalized for a reduction in employment or wages during the period from February 15 to April 26, if you rehire or restore decreases in wages by June 30. 
• The following costs will be forgiven, and do not have to be paid back, if used for:
• Payroll costs, for salaries less than $100,000/yr only
• Rent for 8 weeks starting February 15
• Utilities for 8 weeks starting February 15 
• Group health insurance premiums and other healthcare costs for employees.

• You need to have been in business as of January 31, 2020.
• Loans are up to $2M.
• The term is 30 years.
• Interest Rates are 3.75% for small business and 2.75% for non-profits.
• There are no loan fees, guarantee fees or prepayment fees.
• The first month’s payments are deferred a full year from the date of the promissory note. 
• EIDLS can be approved by the SBA based solely on an applicant’s credit score; a prior bankruptcy doesn’t disqualify you.
• EIDLS smaller than $200,000 can be approved without a personal guarantee.
• Up to $10,000 will be forgiven if spent on:
• paid leave,
• maintaining payroll,
• increased costs due to supply chain disruption,
• mortgage or lease payments, or
• repaying obligations that cannot be met due to revenue loss. 
• Sole proprietors, independent contractors, tribal businesses, cooperatives, and ESOPs with fewer than 500 employees and all non-profits including 501(c)(6)s are now eligible.
• Applicants can get the $10,000 emergency cash even if they don’t qualify for additional funds. You can receive these funds in as little as 3 days.
• You apply for these loans directly through the SBA at www.SBA.gov/disaster. As of March 30, the new streamlined online application is up and running. Make sure to apply for Economic Injury for the Coronavirus (not physical damage from disaster.)