Loans for Small Business
Small Business Administration (SBA)
Paycheck Protection Program (PPP)
- Small business, 501(c)(3) nonprofits, sole proprietorships, self-employed individuals, and independent contractors are eligible to apply. Generally, businesses with 500 employees or less can apply. Consult the SBA regulatory guidance for exceptions.
- Applications are processed by SBA approved lenders, which include banks, credit unions, and community development financial institutions.
- Potentially forgivable loans up to 2.5 times average monthly 2019 payroll. Loans will be capped at $10 million.
- PPP loans have a 0.50% fixed rate. All payments are deferred for 6 months; however, interest will continue to accrue over this period. Loans are due in 2 years. There are no prepayment penalties or fees, no collateral or personal guarantees are required.
- Allowed uses include payroll, utilities, rent, or interest on a mortgage. At least 75% of the forgiven amount must be used for payroll the eight weeks after the loan is disbursed.
View more information and Frequently Asked Questions about PPP Loans.
SBA Lenders in San Antonio
View a list of SBA lenders in San Antonio compiled by the San Antonio Economic Development Foundation.
SBA Debt Relief
- SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for 6 months
- SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.
For more information, please visit SBA Debt Relief.
Additional Information about SBA's Coronavirus Relief Program
Please visit the SBA website for more details.