This is usually the main intent of a a SBA ’emergency loan’ – a loan to get your business back up and running in times of an emergency
In addition to reading the information below and reviewing the below links, also analyze the chart, and print it to see which program (or both) you may qualify for by clicking the link below:
This takes a bit longer to apply for and the SBA determines how much you qualify for (prior to 48 hours ago, that is – more below on that). It’s designed to help you overcome injury due to COVID 19. (Example: If your revenue has stopped and you need funds to pay expenses to get opened back up soon, you’ve been “injured!”). As of a couple of days ago, they streamlined this application, and it does not take as long now to apply for it (initially that is, because they will likely come back to you for more information afterwards). This new streamlined loan process was put in place so those that apply can get their hands on the first $10,000 ‘Free GRANT Money’ as soon as possible (see more about that below). There’s a very long term for repayment and no payments for a year.
There is also a $10,000 GRANT that will be offered (per request) within 3 days of application acceptance that is not required to be paid even if your loan is denied. Continue reading “As a nice summary, a bank put together a great side-by-side comparison chart of these two loans”