Economic Recovery Resource Center:
SBA Loans

Information on SBA-sponsored loan programs for businesses facing COVID-19 impacts. 



U.S. Small Business Administration Loans

The U.S. Small Business Administration currently offers two programs designed to provide relief to small businesses impacted by COVID-19:
Economic Injury Disaster Loans

Economic Injury Disaster Loans

Economic injury disaster loans are low-interest federal disaster loans to provide working capital to small businesses suffering substantial economic injury as a result of COVID-19. The loans offer up to $2 million in assistance that may be used to pay debt obligations, payroll, accounts payable, and other bills that can’t be paid because of the virus’s impact. The interest rate on these loans is 3.75% and repayment schedules can be up to 30 years, depending on each borrower’s ability to pay. Small business owners in all U.S. States and territories are currently eligible to apply for these low-interest loans to offset the effects of COVID-19. The loans are made directly by the SBA. Application can be made online at the SBA’s website:

Paycheck Protection Program (PPP)

Paycheck Protection Program (PPP)

The SBA’s Paycheck Protection Program (PPP) is a broad lending program providing 100% federal guaranteed, forgivable loans to small businesses who maintain their payroll during the COVID-19 emergency. Adopted as part of the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, the PPP allocates $350 billion for the SBA to provide businesses of under 500 employees with loans of up $10 million to cover qualified payroll costs, mortgage/rent, and utility payments. The SBA recently announced that the interest rate on these loans is .5% with no payments due for the first 6 months. Notably, these loans can be forgiven in whole or in part the extent borrower is able to maintain average monthly headcount and payroll during the eight-week period following the origination of the loan (as compared to pre-determined prior period). Payroll Protection Plan lending will be administered by the SBA through outside lenders participating under the existing SBA 7(a) lending program. There are limitations in participating in the PPP for borrowers who have already received an SBA’s Economic Disaster Injury Loans.

Many SBA participant lenders are expected to begin processing these loans online soon with the SBA scheduled to release implementing regulations on April 3rd.

U.S. Small Business Administration Loans

Need Help Navigating SBA Loans?

ACT’s Coronavirus Response Team is available to help you navigate the SBA Process amd provide additional guidance on opportunities to finance your business. Please reach out to 

Contact Us!

Questions on Financing? We can help. 

ACT Capital Advisors

7525 SE 24th St.
Mercer Island, WA, 98040

(206) 486-3400

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