They recommended applying for the EIDL loan today to get the $10,000 grant (this is not the forgivable payroll loan), then apply for the forgivable SBA loan when they become available mid April (it will be through normal banks). Personally, I’m not sure whether the EIDL loan is necessary if you are going to get the forgivable SBA loan since I heard the free $10,000 from the EIDL loan will be deducted from the amount you will be forgiven later with the SBA loan (need to confirm this).

But it definitely looks like it will be guaranteed forgiveness as long as you pay your staff after you get it. It looks like it will even cover your own salary up to $100k. Definitely watch the ADA webinar Since it goes through all the details. It said the recording would be available on their website within 48 hours.