COVID-19 Resource Center

Leverage Nav's free education, data and tools to get lender-ready for a post-COVID world.

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PPP SBA Loan Calculator

Find out how much you may qualify for with our CARES Act SBA Loan Calculator

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PPP SBA Loan FAQs

See answers to common questions about the Paycheck Protection Program Loans

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PPP Forgiveness Steps

Forgiveness is a big part of what makes the PPP loan program a valuable tool for small business owners. With that in mind, here is the basic process for loan forgiveness:

  1. You get your Paycheck Protection Plan Loan
  2. During the eight weeks after loan disbursement, carefully document your payroll-related expenses (at least 75% must be on payroll for forgiveness)
  3. After the eight weeks, you can apply for forgiveness with your lender and provide the required documentation
  4. The lender has up to 60 days to respond to your request for forgiveness and ideally agrees and the balance is forgiven
  5. Any balance not forgiven will become a loan with a 1% interest rate for a loan term of two years

Learn more about applying for forgiveness and documentation requirements

What Are the Differences Between the EIDL and the PPP Loan Program?

There are currently two main loan programs available to help small business owners through the COVID-19 crisis. The differences between the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP) Loan can be confusing because they are often talked about as if they are interchangeable, but they are not. Here are the primary differences you need to know about so you can make an informed decision about which loan is the right loan for your business.

Download the EIDL vs PPP chart

Expertise and Technology: Nav is the One-Stop Resource for SBA COVID loan Information

Not every SBA lender is the same—they each have their own underwriting requirements on top of the SBA's requirements. Nav's decisioning engine can connect you to the right lender for your business.

Our experts have decades of experience in the business lending industry. Nav's SBA tools are the perfect pairing of expertise and technology because of that experience. Nav helps you sort through the chaos—your trusted partner in accessing SBA funds.

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Frequently Asked Questions

Show your support for small businesses

We're all in this together. Look for new ways to support your local businesses during this crisis and encourage others to do the same.

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