On March 19th the Congressional Small Business Task Force unveiled a $367B Emergency Coronavirus Relief Package as part of the Keeping Workers Paid and Employed Act, Division A of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act).
SBA’s Economic Injury Disaster Loans for COVID-19 offer up to $2 million in assistance for small businesses to combat the temporary loss of revenue due to the Coronavirus pandemic. These loans may be used to pay eligible expenses that cannot be paid due to the disaster’s impact by providing long-term, affordable repayments over a maximum of 30 years.
Credibly and Regions bank have teamed up to help deliver SBA COVID-19 Relief Loans to small businesses nationwide. Follow the instructions below to get started.
To get prequalified, follow the “Get Started” button and enter some basic information about yourself and your business.
A Business Consultant will reach out to obtain additional information, finalize your application, and get back to you with the options you qualify for.
Upon approval and accepting the offer, funds are deposited directly into your bank account so you can use the money immediately.
Up to $2,000,000
Up to 30 years
As low as 3.75%
Case by case
The interest rate is 3.75% for small businesses and the interest rate for non-profits is 2.75%. Terms are a maximum of 30 years and are decided on a case by case basis, based upon a borrower’s ability to repay the loan.
SBA Relief COVID-19 Relief Loans are designed to provide vital economic support to small businesses and help overcome the temporary loss of revenue they are experiencing. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
SBA Relief Loans for the Coronavirus pandemic are made available based on declaration of your area. Credibly’s Business Consultants are available to help you understand if you meet the eligibility requirements and prepare your application.
When you’re running low on cash and need to support your operations, access to fast, flexible business financing is crucial. To get started, fill out our online prequalification form or call our Customer Success Team at (888) 991-3954.
Subject to approval.
Certain products may not be available in all states.
Certain business loan products are made available through Retail Capital LLC, a licensed California Finance Lender.
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