PPP vs. EIDL vs. 7(a) Loan Overview

PPP vs. EIDL vs. 7(a) Loan Overview

In the best of times, a small business loan is used to help a growing venture expand or pursue new opportunities. Occasionally, business owners use loans to meet short-term needs, such as covering a cash flow gap. But the entire small business financing world has shifted due to the coronavirus pandemic—now, businesses are mainly seeking federal funding through various programs to help them stay alive over the next few weeks and months.

A collection of small business loan programs have either been created or given additional funding to provide business owners the financial support they need to maintain payroll, pay bills, recoup lost income, and stay on track for long-term success. Options include the Paycheck Protection Program (PPP), the Economic Injury Disaster Loan program, and the SBA’s 7(a) loan program. - FUNDERA.com

Read the full article and compare all of the funding options from Fundera HERE

Need assistance deciding on the best emergency funding options for your business? Contact Handle It at 833-202-7676.