Economic Injury Disaster Loan
Apply for EIDL directly with SBA. Must attest to economic need due to COVID-19. Repay at 3.75% (2.75% non-profits) up to 30-years. First year’s payments deferred. Possible forgivable emergency advance of up to $10k. Can be applied for w/ PPP if used for different expenses.
Employee Retention Tax Credit
Refundable credit up to $5,000 per employee taken against payroll tax deposits. Cannot be used if using other programs for payroll costs. Sales must be down at least 50% from same quarter in 2019.
Payroll Tax Deferral
Defer payment of employer portion of social security taxes on wages paid through 12/31/20. Repay 50% - 12/31/21 and 50% - 12/31/22. Can be used along with a PPP loan.