Washington State hosts: SBA offering disaster loans for COVID19 loss of business

[Lisa723]

https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDEsInVyaSI6ImJwMjpjbGljayIsImJ1b...

[Lisa723]

Not just Washington State; you can check here to see if your area is covered:

https://www.sba.gov/disaster-assistance/coronavirus-covid-19

[Tim670]

Were you able to secure any funding from the SBA?

[Lisa723]

@Tim670 yes.

[Tim670]

@Lisa723 was it EIDL from the SBA?

[Lisa723]

@Tim670 yes

[Tim670]

@Lisa723 do you mind disclosing the terms? Loan amount, interest rate, anything else...?

[Lisa723]

@Tim670 about 60% of annual revenue, 3.75%, 30 years, no payments for first 12 months.

[Tim670]

@Lisa723 did you try for a PPP loan?

[Lisa723]

@Tim670 no because they are prioritized by number of employees and I have none.

[Tim670]

@Lisa723 you don't think it's worth it to try? Especially with this second round of funding?