Paycheck Protection Program | FULL EIDL Loan | |
---|---|---|
Forgivable if used for payroll (minimum of 75% of the funds received) and the remaining for certain operating expenses (amount of any EIDL advance is not forgivable) | To meet financial obligations and | |
Up to $10 million 1% interest rate | Up to $2 million | |
YES | NO – EIDL Loan | |
2 years | 30 years | |
Deferred 6 months | Deferred 1 year |