Who has been put out of work and sent home ?

[biomedtechguy]

I plan on applying for both, using one for replacing my income and the other for business expenses, and taking the $10K expedited payment, if I can do all of that.
THANK YOU for the advice!
I think the EIDL loan is the one that converts to 4%.

UPDATE:
Any business that showed a loss on their federal income tax return for 2018 or 2019, the 2 years that are available to use as documentation for a Paycheck Protection Program loan, does NOT qualify for the program.
I did receive a $1K advance on the EIDL disaster loan I applied for 4 weeks ago. The $10K advance has been apportioned to $1K per employee, so I'm the only employee.
The advance is forgivable. Hopefully this means I am approved for the EIDL loan, because that's the only one I have available now.