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@barronkanetaylor That is very helpful, thank you.

Proceeds of the loan must be use for "working capital to alleviate economic injury caused by [covid] disaster". I'm trying to gain a clearer understanding of this phrase, including any examples if possible. Can't find anything useful through google searches.

@tinygiraffe That can't be right. Only $10k? You should have like $1m in coverage for that premium.

@wisdomandlove You have to read the terms of your contract with the SBA. You probably have a provision requiring you to carry insurance.

@jennyfer88baker Thanks! Have you submitted it to SBA for approval by chance?

Which insurance company are you using for you hazard coverage? Hartford markets a policy that is not actually compliant with the lending requirements. I got a quote from State Farm, but their minimum coverage limit is $500,000, which costs around $700 per year and is way more than I need. I'm...