Know the Rules of the GameⓇ Podcast for SBA Economic Injury Disaster Loans and PPP


As the CEO & President of Women in the Housing & Real Estate Ecosystem (NAWRB) and Desirée Patno Enterprises, Inc. (DPE) Real Estate Brokerage, Advisor & Investor for AmicusBrain—AI for Aging Population, CSO for ZuluTime, Publisher, Connector and a National Speaker, Desirée Patno’s network and wealth of knowledge crosses a vast economic footprint. With three decades specializing in the Housing & Real Estate Ecosystem and owning her own successful brokerage, she leads her executive team’s expertise of Social Impact, Gender Equality and Access to Capital, and provides personalized consulting services to the Real Estate and Family Office community.

Tune in on Wednesday, April 8, 2020, at 8 AM PST for Know the Rules of the GameⓇ Podcast for SBA Economic Injury Disaster Loans and PPP with your host Desiree Patno, CEO & President of NAWRB, and special guest Kristy Bain, Lender Relations Specialists at the U.S. Small Business Administration (SBA). Desiree and Kristy will discuss important information about the SBA’s Economic Injury Disaster Loans (EIDL) Loans, which offers a $10K Loan Advance for small businesses, and the Paycheck Protection Program (PPP), which helps keep small business workers employed by facilitating access to capital to small businesses impacted by COVID-19. 

Quote of the day: “I’m not afraid of storms, for I’m learning how to sail my ship” – Louisa May Alcott. 

The CARES Act, which was signed into law by President Trump on March 27, 2020, provides $376 billion in relief for American workers and small businesses. The CARES Act also established several new temporary SBA programs to address the COVID-19 outbreak, two of which are discussed in detail on the podcast: SBA Economic Injury Disaster (EIDL) Loans & PPP (Paycheck Protection Program). 

EIDL Loans

Small business owners in all U.S. states, Washington D.C., and territories  impacted by the COVID-19 pandemic are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. As stated on the SBA’s website, “This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid.” Please note that “successful application” does not mean you have to be approved for the loan. Moreover, loan approval is not necessary to receive the loan advance, as Kristy notes. 

This program is for any small business with less than 500 employees (which includes sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19. In certain industries, businesses may have more than 500 employees if they meet the SBA’s size standards for respective industries. The U.S. Small Business Administration has updated their application for Economic Injury Disaster Loans. Interested businesses as well as previous applicants are being asked to apply or reapply here. On the application, make sure to check the $10,000 box to access the emergency grant. 

For businesses who applied prior to Monday, March 30th, you will need to reapply with the SBA (even if you were rejected or pending approval). To apply for a COVID-19 Economic Injury Disaster Loan, go to For more info, visit

Paycheck Protection Program (PPP)

The Paycheck Protection Program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program. Just like the aforementioned EIDL Loan Advances, the SBA will forgive loans received through this program if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

As stipulated by the SBA, small businesses can apply for PPP through “any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.”

Lenders may begin processing loan applications as soon as April 3, 2020, and the PPP will be available through June 30, 2020. To find a lender or learn more about the PPP, click here! Read the Interim Final Rule, as of April 4th, 2020, announcing PPP here:–IFRN%20FINAL_0.pdf

Three Rules for Know the Rules of the Game ® Podcast for SBA Economic Injury Disaster (EIDL) Loans & PPP (Paycheck Protection Program)

Rule 1:  Eligibility:  SBA is listening to the feedback and providing clarity where necessary. An example of this is the recent clarification on the SBA Faith-Based Business Eligibility.   

Rule 2:  Forgiveness: The loan can be 100 percent forgiven as long borrowers dedicate 75 percent of the forgiven funds to pay-roll expenses

Rule 3: EIDL Loan and PPP Compatibility: If you received an EIDL loan for payroll, that loan will be rolled into your PPP loan and would be eligible for forgiveness under the PPP loan program. You can also take out an EIDL loan for non-payroll expenses and a PPP loan for payroll expenses.

Kristy Bain is a Lender Relations Specialist in the SBA Orange County Inland Empire district office. She has been with the SBA for seven years. She started her SBA career in Idaho and moved to Orange County, California, two years ago. Kristy served six years in the Navy as an AEGIS Fire Controlman, and she worked on the terminal homing system for the SM-2 missiles. 

Thank you Kristy for being an incredible resource for the SBA’s funding options for small businesses impacted by COVID-19. All information presented is directly from the SBA as of April 6, 2020. For the latest updates on COVID-19 funding, please visit and click on the yellow banner at the top. 


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