Do you currently work with an SBA Express Lender and need money before you will receive your EIDL Payment?
Originally Posted Apr. 2, 2020
Express Bridge Loan Pilot Program
Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan.
You must also apply for the Economic Injury Disaster Loan as the Express Bridge Loan acts as an advancement of the EID Loan.
Term
Up to $25,000
Fast turnaround
Will be repaid in full or in part by proceeds from the EIDL loan
Who is an Eligible Recipient?
Small businesses located in any state, territory and the District of Columbia that have been adversely impacted by the COVID19 emergency. The small business must have been operational when the declared disaster commenced and must meet all other 7(a) loan eligibility requirements.
Currently work with an SBA Express Lender
Credit not available else where
In operation as of March 13, 2020
Been adversely impacted by COVID-19