US small united states have services a major casualty significant the COVID-19 crisis. On top of the conventional SBA funding programs, the CARES Act established a number of new programs to supply economic relief to small businesses impacted by COVID-19. There is an exception: if you currently got an EIDL loan between January 31, 2020 and April 3, 2020, you can use for a forgivable PPP loan, refinance your EIDL into the PPP, and have actually the EIDL forgiven that way. As far as repayment terms on EIDL loans, term length can be up to 30 years; The interest rate is 3.75%, and you can postpone your loan payments for a year prior to you begin paying on the loan. I hope this post has actually been helpful.
US small united states little companies a major casualty significant the COVID-19 crisis. On top of the traditional SBA funding programs, the CARES Act developed several new programs to supply economic relief to small businesses affected by COVID-19. I hope this post has been practical.