April 1, 2020
By: Caity Witucki
Contributing Editor, C-Suite Wednesday
C-Suite Wednesday – The Difference Between PPP, EBL and EIDL
The $2 trillion coronavirus relief package signed by the President last week includes nearly $350 billion for a federal small business loan program called the Paycheck Protection Program (PPP). PPP loans are separate from existing federal loan programs, including the SBA’s 7(a) Loans and Economic Injury Disaster Loans (EIDL). The SBA has also extended its Express Bridge Loan (EBL) pilot program to supplement its Disaster Loan program.
SBA lenders should understand what these different SBA loans offer to their borrowers so that they can direct them to the best economic relief package for their particular needs.
SBA – Paycheck Protection Program (PPP)
SBA – 7(a) Lan Program
SBA – Alterntive Financing for COVID-19
SBA – Disaster Assistance
SBA Information Notice 5000-180005
SBA Express Bridge Pilot Program Guide
SBA – Coronavirus (COVID-19): Small Business Guidance & Loan Resources