Can I apply if I already received an SBA EIDL or SBA PPP loan or any other federal, state, or local assistance to address business needs resulting from the pandemic?

Yes, receipt of an SBA Economic Injury Disaster Loan or SBA Paycheck Protection Program loan or any other public assistance does not impact eligibility provided those loans are in good standing and RLF funds are not used for identical expenses or to make payments on or refinance existing loans.

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1. Is the COVID-19 Recovery Loan forgivable?
2. Can I apply if I already received an SBA EIDL or SBA PPP loan or any other federal, state, or local assistance to address business needs resulting from the pandemic?
3. Are the loans only for businesses?
4. Are start-ups eligible?
5. Why is GNRC targeting certain industries and demographic groups?
6. Is collateral required?
7. Are the payments fixed for the life of the loan?
8. May a business use the loan to refinance or consolidate other debt?