From the $2t total size, $349b is emergency lending facility providing cash-flow assistance to businesses via 100% federally guaranteed loans. Key Terms of the Loan: Interest rate: 1% annually Loan term: 2 years No fees for borrowers All borrowers will receive at least 6 months of interest and principal payment deferment Does not require a personal guarantee or collateral

https://www.sba.gov/document/sba-form--paycheck-protection-program-borrower-application-form