FIRST DRAW PPP:
Sole proprietors, independent contractors, and self-employed persons are eligible for consideration. Small businesses and eligible nonprofit organizations, veterans organizations, and tribal businesses described in the Small Business Act, may be eligible if they also meet program size standard.
First Draw Paycheck Protection Program loans have an interest rate of 1%. Loans issued prior to 06/05/20 have a maturity of two years, and loans issued after 06/05/20 have a maturity of five years.