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Yes, 2 different programs.
The 10,000 grant starts out as a loan advance on a SBA EIDL disaster loan.
One can then borrow more funds or simply keep the 10,000 advance and it is not required to be repaid.
The PPP loan is even better. SBA backs the loans based on 2.5 times your average monthly payroll costs.
Once funds are received, your next 8 weeks of payroll, rent and utilities are forgiven.
Balance can be returned to the bank or kept as a 1% 2-year note.
Of course there are specific conditions to be met.
If interested, hurry. 1st come / 1st served and it started yesterday.
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Randy
'87 911 Targa
'17 Macan GTS
Last edited by gr8fl4porsche; 04-04-2020 at 11:28 AM..
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