To be eligible for a SBA loan, some of the requirements include:
- Your business must be operational as of February 15th, 2020 and have had employees it paid salaries and payroll taxes, or a paid independent contractor. Sole-proprietors, independent contractors, and other self-employed are eligible as well.
- Businesses with 500 employees or less are eligible small businesses, or the applicable size standard for the industry as provided by SBA, if higher.
- Businesses with more than one physical location are eligible as long as they don’t have more than 500 combined.
If you have any questions about this, you can contact our support team at [email protected] and we would be happy to assist.