Covid-19 Federal Disaster Loans for Small Businesses and Nonprofits.

We have been alerted by an email from the Kreshmore Group, an advisory firm in Illinois, about a new programs called the "COVID-19 Federal Disaster Loans for Small Businesses and Nonprofits

According to the email from Kreshmore:

On 3/19/2020, the SBA issued an administrative declaration that Economic Injury Disaster Loans (EIDLs) are available for small businesses and private nonprofits due to the Coronavirus (COVID-19) pandemic. Highlights of this economic relief program include:
● Up to $2,000,000 in relief assistance for qualified applicants*
● Interest rate is 3.75% for small businesses and agricultural cooperatives
● Interest rate is 2.75% for nonprofits
● Up to 30-year repayment terms
● Incident application period is through 12/17/2020
*Certain restrictions and conditions appply
Some pertinent links associated with this SBA Disaster Loan program include:
Application website → SBA Disaster Loan Assistance
SBA loan form → SBA Disaster Loan Form
Pertinent loan links: Tax Information Authorization (IRS Form 4506T). Personal Financial Statement (SBA Form 413). Schedule of Liabilities (SBA Form 2202).
Further information from Kreshmore about this program can be obtained from Ian Cumberland (847) 275-4065 or Tom Varga (630) 667-5730