Paycheck Protection Program Loan: The Paycheck Protection Program is a Small Business Administration (SBA) loan designed to help small businesses keep their workers on the payroll. The SBA will forgive loans if all employees stay on the payroll for eight weeks and the money is used for certain business expenses.
Economic Injury Disaster Loan: The SBA’s Economic Injury Disaster Loan provides support to small businesses facing temporary loss of revenue as a result of the COVID-19 pandemic.
Economic Injury Disaster Loan Advance: Small businesses may apply for an Economic Injury Disaster Loan advance of up to $10,000, under the SBA’s loan program. This advance is designed to provide relief for businesses experiencing revenue losses as a result of COVID-19.