PURPOSE

To meetfinancia(obIigation5 and operating expenses that could have been met had the disaster not occurred

LOAN AMOUNT

• For loans approved starting the week of April 6, 2021: 24-month5 of economic injury with a maximum (oan amount ofS500,000.
• For loans approved prior to the week of April 6, 2021, see loan ,n I-Cases.

TERIvIS

• o 3.T50/ for busine5ses (fixed) 2.T5% for nonprofits (fixed) 30 years
• No pre-payment penalty or fees
  
• Working capital and normal operating expenses

Example:continuation of health care benefits, rent, utilities, fixed debt payments.

COLLATERAL REQUIREkIENTS

• Required for loans over $25,000.
• SBA uses a general security agreement(UCC) designating business assets as collateral, such as machinery and equipment, furniture and fixtures, etc.

FORGIVABLE

• NO — EIDL Loan
• YES — EIDL Advance*

*Advance funds have been fully allocated and are not currently available

k\ATURITY

• 30 years Borrower may make payments if they choose to do so.
• Set up on(ine payments through Pay.¿a. OR mail payments to:

U.S. Small Business Administration 721 19th Street

Denver, CO 80202