EIDL VS PPP (Second Round): The Interest rates and Terms?

This video will go over the loan rates for the EIDL and the PPP.

Economic Injury Disaster Loan (EIDL):

Interest rates on EIDLs can be as high as 3.75% for companies and 2.75% for nonprofits.

Principal and interest payments of EIDLs can be deferred for up to one year; however, interest will continue to accrue over this period.Typically, EIDLs are available to businesses and private nonprofits.

Paycheck Protection Program (PPP):

Interest rates on PPP is now fixed at 1% for companies and nonprofits.

Principal and interest payments of PPP all payments are deferred for 6 months; however, interest will continue to accrue over this period.

For more information go to: https://home.treasury.gov/system/file...

To Check your Eligibility for free : https://aidassist.intuit.com/app/home...