New Stimulus Eidl Grant

The consolidated appropriations act signed into law at the end of december 2020 allocates 284 billion to the popular ppp program.

New stimulus eidl grant. In addition there is a new targeted eidl advance program available under the guidelines outlined below that has been created to direct funding into the hands of small business owners with the greatest need. It also allocates 40 billion to a new version of the economic injury disaster loan eidl grant and 15 billion to a new grant aimed at live entertainment venues impacted by the covid pandemic. What the new stimulus bill means for flooring retailers.

Whether you already received an eidl grant you were rejected for an eidl grant or you received part of the eidl grant you may be able to get the full 10 000 eidl grant. 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. The grant funds did not have to be paid back to the sba but the 10 000 had to be deducted from the amount.

Congress has made some noteworthy changes to the eidl advance grant program as well as provided an additional 20 billion boost in its funding. Eidl jan 03 2021 in the new 900 billion stimulus package that was signed into law on december 27th 2020 there is new eidl grant funding available. Eidl dec 23 2020 included in the stimulus package that congress passed this week is funding for more eidl grants for small businesses.

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.