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Here is the link for more details to each of the loan. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options …
The Small Business Administration is working to provide essential loans, with minimal acceptance times. The following loan programs apply specifically to Covid-19 relief.
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7(a) Loan Payment Relief: SBA will pay the principal, interest, and any associated fees owed on 7(a) loans . Economic Injury Disaster Loan (EIDL): Funding provides up to $2 million to help meet financial obligations and operating expenses caused by the loss of revenue.
Emergency Economic Injury Disaster Loan (EIDL) Advance: This loan advance will provide up to $10,000 of economic relief to businesses. Small Business “Paycheck Protection Program” (PPP): This loan program provides loan forgiveness for retaining employees.
SBA Express Bridge Loans: Funds enable small businesses that currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
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