- Interest: 1%, fixed for the life of the loan
- Term: 5-year term; payments are not required until loan forgiveness
has been determined - Fees: No fees
- Loan forgiveness: All or a portion of the loan may be forgiven if the business complies with rules regarding usage of the funds
- Collateral: Collateral or personal guarantees are not required
For additional loan details, please visit the links below from the Department of the Treasury’s website:
https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses