SOURCE: SBA.gov
The options for you to take advantage of the COVID-19 Relief Programs offered by the SBA can be a bit confusing. We've listed a summary of the criteria below to meet when considering different funding options.
First Draw PPP borrowers may be eligible to apply for Second Draw PPP loans
May apply if received a PPP loan prior to applying for SVOG. If PPP loan received on or after Dec. 27, 2020, the amount will be deducted from SVOG.
May apply for EIDL, but cannot be used for the same purpose/costs as PPP
May not apply for PPP loan after receiving SVOG
May be eligible to receive a supplemental SVOG award
May apply for EIDL, but cannot be used for the same purpose/costs as SVOG
May apply for PPP, but cannot be used for the same purpose/costs as EIDL
May apply for SVOG, but cannot be used for the same purpose/costs as EIDL
The same business cannot apply for more than one EIDL
For assistance with applying to any of the programs listed above, please go to https://njsbdc.com/CapitalTeam.
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