At Truliant, we believe in the importance of small businesses within the communities we live.
The latest COVID-19 Relief Bill was signed into law on December 27, 2020, providing approximately $900 billion of fiscal stimulus to individuals, businesses, and hospitals.
Included in the bill were extensions for two types of business loans: Economic Injury Disaster Loans (EIDL) and the Paycheck Protection Program (PPP).
Economic Injury Disaster Loans (EIDL)
The EIDL is for businesses to pay for operational expenses through this uncertain time. This loan is administered by the SBA and includes a $10,000 emergency grant to be made within three days of an application.
These grants do not have to be repaid as long as funds are used for:
Providing paid sick leave to employees unable to work due to the direct effect of the COVID–19
Maintaining payroll to retain employees during business disruptions or substantial slowdowns
Meeting increased costs to obtain materials unavailable from the applicant’s original source due to interrupted supply chains
Making rent or mortgage payments
Repaying obligations that cannot be met due to revenue losses
EIDLs are working capital loans, up to $2 million, which may be used for fixed debts, payroll, accounts payable, and other bills. These loans include a 10-year repayment at 3.75% (or 2.75% if you’re a non-profit). To qualify, you must be:
A small business, cooperative, ESOP or tribal business with 500 or fewer employees
An individual who operates under as a sole proprietorship, with or without employees, or as an independent contractor, or
A private non-profit or small agricultural cooperative
Your business must be directly affected by COVID-19
To apply or for more information, please visit the
Small Business Administration Portal.
All loans are subject to credit approval and program guidelines. Paycheck Protection Program (PPP) Loan
The Paycheck Protection Program (PPP) ended on May 30th, 2021.
For more information about the Paycheck Protection Program, please visit the SBA website. PPP Loan Forgiveness
How can I request loan forgiveness?
If your existing PPP Loan is $150,000 or greater, you should have already received a link to complete your forgiveness application. We will begin accepting PPP loan forgiveness for those with loans less than $150,000 in the coming weeks.
If you have a PPP loan with Truliant, you will receive two emails with information about the PPP loan forgiveness process and another with your unique application link.
During the application process, you will be asked to create a PIN. Your PIN must be between 6-12 characters including numbers, letters and special characters. It is important for you to retain this PIN as you will need it throughout the forgiveness process along with checking on the status of your application. If you lose or forget your PIN, you will be asked to begin your application again, potentially delaying forgiveness. Truliant will not be able to retrieve lost or forgotten PINs.
If you have not received information about loan forgiveness via email, please email us at . [email protected]
You can also review our PPP Loan Forgiveness FAQ. To ensure easy uploading to the SBA's digital platform please be sure to save all documents in PDF format. No paper applications will be accepted.
If you have any questions, please email us at . Our call center representatives will be unable to answer questions relating to PPP loans or forgiveness. [email protected]
Other Frequently Asked Questions
Is Truliant still offering the PPP loan?
Truliant is no longer accepting new PPP loan applications. The Paycheck Protection Program (PPP) ended on May 30th, 2021.
Where can I get the most up to date information related to PPP Loans in general?
The most accurate and current information can be found on the
Are you doing the EIDL loan with the $10,000 advance?
The EIDL is only available through the SBA. Please visit the
SBA website to apply. This loan is administered by the SBA.