COVID-19 Relief Loan
If you have suffered substantial economic injury and are one of the following types of businesses located in a declared disaster area, you may be eligible for the relief loan, SBA Economic Injury Disaster Loan (EIDL) or Paycheck Protection Program (PPP):
- Small business
- Small agricultural cooperative
- Most private nonprofit organizations
Economic Disaster Relief Loan
30 year Fixed Interest Rate
3.75% for businesses
2.75% for nonprofits
Payment Deferral
Payments deferred for 12 months
Working Capital
For the purpose of normal operating expenses
Through these unprecedented times wrought by the coronavirus pandemic, the Economic Injury Disaster Loans (EIDL) program has been expanded for businesses that are in need of financing support. In addition to the EIDL being made more accessible to businesses that have suffered economic hardship due to the pandemic, 2 grant programs have been added: the EEIG, and the new, targeted EIDL grant.
The relief loan bill was signed that includes $284 billion for the Paycheck Protection Program (PPP) loans. Capitalize will now submit completed, eligible applications.
Paycheck Protection Program
Low Interest Rate
1% fixed APR for the life of the loan
Payment Deferral
Payments deferred for 10 months
Loan Forgiveness
On all qualified business expenses
As part if an end-of-year pandemic relief loan package, Congress has passed several changes to the Paycheck Protection Program (PPP) and created a “Second Draw” PPP for small businesses who have exhausted their initial loan. Other changes impact eligibility for initial PPP loans, the loan forgiveness process, and the tax treatment of PPP loans
