Eidl Stimulus Grant Money For Small Businesses

Expands the economic injury disaster loan eidl program provides 40 billion to extend the small business administration eidl grants through december 31 2021 and sets aside 20 billion for employers in low income areas with 300 or less employees who experience at least a 30 economic loss allowing them to receive a 10 000 grant.

Eidl stimulus grant money for small businesses. This makes the grant a better fit for very small businesses than mid sized ones who may want to concentrate on getting a ppp loan. They are an extension of the emergency eidl grants in the cares act but the requirements are somewhat different. The bill earmarked 20 billion for eidl grants which are grants of up to 10 000 for small businesses alongside the 284 billion earmarked for forgivable ppp loans.

You ll qualify for 1 000 per employee up to a maximum of 10 000. This legislation includes a new eidl grant described under the section targeted eidl advance for small business continuity adaption and resiliency and congress has allocated 20 billion for these grants. Eligible businesses in low income communities that did not.

Included in the stimulus package that congress passed this week is funding for more eidl grants for small businesses. The qualification rules for eidl grants have changed in this round from the first round of eidl grants also known as eidl advances in the cares act.