Stimulus Loophole Eidl Grant Apply

Call 855 415 4632 covid 19 resource hub.

Stimulus loophole eidl grant apply. The eidl program was a pre existing government program. This creates an interesting loophole where you could potentially add a year end bonus to increase the monthly payroll number. Is it truly a grant.

Log into your account. The cares act is the largest economic stimulus package in american history. The economic injury disaster loans program still exists for declared disaster areas.

Sba 10 000 free stimulus grant. Economic injury disaster loan eidl adds 20b to the eidl grant program. Paycheck protection program ppp economic injury disaster loan program eidl summary.

Sba offers some covid 19 relief as of sunday march 29 2020 the sba offers some covid 19 relief the sba just released a new form application for a free sba 10 000 stimulus grant to assist small business owners with their incurring losses. The president is looking to increase stimulus payments from 600 to 2000 and specific aid for restaurants. As part of the 2 trillion cares act sole proprietors independent contractors ics and self employed became eligible for sba loans and grants not previously available to them.

You simply went to the sba s disaster loan assistance page and filled out an application. Since any company that s eligible to receive an eidl loan is eligible for a grant the process of getting the up to 10 000 advance for your business was relatively straightforward. One of those programs is the economic injury disaster loan program eidl usually reserved for disasters like hurricanes and earthquakes.

The sba site still refers to eidl as a loan. How to apply for and receive an eidl grant. The second round of funding is likely to run out quickly so it s best to apply fast.