April 6, 2020 - NFP CARES Act Webinar CARES Act Webinar - NFP - Final | Page 21

COMPARISON OF SBA DISASTER
LOAN AND PPP LOAN
EIDL Loan can be used for payroll support for
sick pay and medical leave, employee
salaries, mortgage payments, rent, utilities,
certain debt obligations incurred before the
covered period.
Difference - 20% or more owners are
generally required to personally guaranty the
EIDL loan. SBA uses credit scores of
business owners in their decisions for
approval. Collateral is required.
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