April 1, 2020
It is important to remember that you should consult your local lender to determine which loan, the Economic Injury Disaster Loan or the Paycheck Protection Program Loan is best for your business.
- Overview of the Paycheck Protection Program (PPP)
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
- Economic Injury Disaster Loan (EIDL) provided by the SBA
More insights on EIDL from Village Bank, open PDF.
- SIDE BY SIDE COMPARISON
Here is a side by side comparison of the PPP and the EIDL provided by the National Federation of Independent Business.