COVID-19 Economic Injury Disaster Loan

For loans approved starting the week of April 6, 2021: 24-months of economic injury with a maximum loan amount of $500,000.

Terms:

3.75% for businesses (fixed)
2.75% for nonprofits (fixed)
30 years
No pre-payment penalty or fee

Maturity:
30 Years

COLLATERAL REQUIREMENTS

Required for loans over $25,000
SBA uses a general security agreement (UCC) designating business assets as collateral, such as machinery and equipment, furniture and fixtures, etc.

https://www.sba.gov/funding-programs...ction-header-0