CARES Act Paycheck Protection Program Vs. Small Business Association’s Economic Injury Disaster Loan

Written by Eric Beepat

On April 1, 2020

CARES Act Paycheck Protection Program vs. SBA’s Economic Injury Disaster Loans

The President signed the CARES Act last week introducing a new small business relief program called the Paycheck Protection Program. It reserves nearly $350 billion to provide a direct incentive for small businesses to keep their workers on the payroll throughout the COVID-19 pandemic. 

You may have already heard of the Small Business Association’s Economic Injury Disaster Loan – EIDL. The EIDL provides assistance in the form of low-interest loans to businesses, renters, and homeowners located in regions affected by declared disasters. 

Below is a downloadable link to a summary I put together of the two loan programs:

CLICK HERE TO DOWNLOAD

To find more information on the Paycheck Protection Program, click the following link:

https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp#section-header-6

To find more information on the EIDL, click the following link:

https://www.sba.gov/funding-programs/disaster-assistance

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