Please visit this link if you own a small business and are looking for a grant or low interest rate business loan. The first option is the Paycheck Protection Program (PPP), which is a loan to be used on business expenses related to rent, mortgage payments, payroll expenses, and insurance expenses. If the loan is used for any of these expenses, the first 8 weeks of the loan are forgiven and considered tax free. Any other uses, the loan turns into a 2 year loan with an interest rate of up to 1%.
The second option is Economic Injury Disaster Loan (EIDL) This program offers loans for businesses as well, as long as you qualify, you can request a $10,000 advance, which has to be paid within 3 days. The advance will be considered a grant that you will not have to pay that back and will be tax free. To apply for either loan, please click the link above. For more information on each loan, please click either link under “Detailed Information”