Who’s lending the money?Where do I I submit an application?
U.S. Small Business Administration (SBA). Apply here.
Financial institutions including banks, credit unions, CDFIs, online lenders, etc. The SBA guarantees the PPP loans made by these lenders. Apply with DreamSpring or your preferred financial institution.
What is the deadline to apply
The loan program has been active for years and applications are open indefinitely. The EIDL Advance (aka grant) is a temporary program that was open for part of 2020 and is
The program closed in August 2020 and has reopened with the enactment of the new stimulus bill. Applications can be submitted to the SBA through March 31, 2021 or until funds run out.
Loan funds can be used for...
Almost any business purpose
Primary eligible expense: · Payroll/income replacement for sole proprietors and partners
Other eligible expenses: · Rent and utilities
· Mortgage interest expense
· Software, cloud computing, human resources, accounting · Property damage costs due to public disturbances and not covered by insurance · Supplier costs
· Worker protection; including personal protective equipment and adaptive investments to help comply with health and safety guidelines