COVID-19 Loans Explained by Dulin Hassett

While some of the details have not yet been announced, it’s wise to start considering your options. To assist in making your decision, we’ve compiled an FAQ to help you sort it all out.

Applications for the EIDL (Economic Injury Disaster Loan) program are being accepted now.  Visit this website to get started.  https://covid19relief.sba.gov/

The PPP (paycheck protection program) is still in progress. It’s estimated to take approximately 3 weeks until the banks are ready to accept applications.  This loan will require no collateral or personal guarantee and offers loan forgiveness. Here’s an FAQ to compare the two programs side-by-side:

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