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DRCI Business Insights Blog

Posted on: June 23, 2020

SBA Disaster Loan Program Updates

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

If you have not applied for an EIDL Loan, the portal is now open on the SBA website for new applications.

If you have not applied for an EIDL Loan, the portal is now open on the SBA website for new applications.

The EIDL process is two steps:

1. You first receive an advance (equal to $1K per employee).

2. If you qualify, you will receive an email from SBA offering an EIDL Loan (up to 30 years, 3.75%).

If you received both an EIDL advance and PPP, the EIDL advance will be deducted from your PPP Forgiveness.

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