r/EIDLPPP: Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020 COVID-19 disaster. Targeted EIDL Advance Frequently Asked Questions FEBRUARY 1, 2021 3 | Page 11.ho is W eligible for the new Targeted EIDL Advance? It was very easy to request—just checking the box indicated that you would like to be considered for the up to $10,000 advance. The SBA grant/EIDL loan is back! PLEASE NOTE: THE EIDL ADVANCE PROGRAM IS NOT CURRENTLY OPEN FOR NEW APPLICATIONS. Grant Portal expected to open January 17, 2021. Thanks.. Have a funded EIDL loan, but unsure what to do? For the applicants who have applied for it in 2020, the application process and questionnaires for the loan are still the same. They've been extremely helpful to me since March 2020!! The 2021 package contains roughly $284 billion to replenish the Paycheck Protection Program (PPP), an additional $20 billion for the EIDL program, in addition to allowing new types of businesses access to these funds. This can be any of the following. 28 Dec. 2020.Accessed on 11 Jan. 2021. - Tuesday, January 19, 2021 - Find event and ticket information. The $900 billion Covid relief law lets some in less wealthy areas get a second EIDL grant. So here's what I'm wondering: With the PPP loan we could use it for whatever we wanted AFTER we used it to pay ourselves. Press question mark to learn the rest of the keyboard shortcuts. And their vision is to align financing qualifications, predict needs, and facilitate transactions between data providers, lenders, partners, and small businesses. The entity is located in a low-income community. In June, the funding finally came through. Any input would be much appreciated. Businesses that have 300 or fewer employees, are located in federally identified low-income Their mission is to reduce the death rate of small businesses. The SBA has announced that the deadline to apply for economic injury disaster loans has been extended to Dec. 31, 2021 as a result of the COVID-19 relief bill passed by Congress and signed by President Donald Trump on Dec. 27, 2020. When applying for the grant, you must select the type of business you have. While the CARES Act originally provided eight (8) weeks of cash flow assistance, Congress approved legislation on June 5, 2020 that increased the total available to 24 weeks (H.R.7010 -Paycheck Protection Program Flexibility Act of 2020; Public Law No: 116-142).3H.R. It appears these grants are meant to fill a gap for businesses that may not have received the full $10,000 EIDL grants described in the CARES Act. How do I know if I got a grant or a loan? Informative article. The deadline for the second round of EIDL runs until December 31, 2021. Should be this week. I applied when the program was originally rolled out in March because our governor made us close our retail outlet. Hey check this out, I got this a couple days ago from Mac, an organization that helps businesses understand and find financial resources on this, PPP, unemployment, just about everything you might ask about. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. New EIDL Grants for 2021! And the new rules for the EIDL grant part haven’t been formally announced yet. The EIDL program has so far held to the requirement that your business be in operation before 1/31/2020, so your LLCs will not qualify unless they change something. The SBA’s Economic Injury Disaster Loan (EIDL) program has officially been replenished in the new stimulus bill that was recently signed into law.In the bill, roughly $20 billion dollars has been allocated for new, targeted EIDL Grants for businesses in low-income communities. SBA EIDL Advance Grants were renewed in the December 27, 2020, coronavirus stimulus package. both LLC's were formed October and November of 2020, I was also a 1099 for the year ending in 2019. does that mean I can file for the grant under my two LLC and file for it indepdently. Press question mark to learn the rest of the keyboard shortcuts. r/EIDL: Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. ” CPA Practice Advisor. Article is on point, as it is disseminating the same information of other reputable media outlets, concerning EIDL grants. EIDL is short for Economic Injury Disaster Loan. The EIDL loan and grant were part of the CARES Act back in March. https://www.nav.com/blog/new-eidl-grants-do-you-qualify-777085/. Targeted EIDL Advance Signed into law on December 27, 2020 as part of the Economic Aid to Hard-Hit Small Businesses , Non-profits and Venues Act, this lending program provides up to $10,000 to small businesses in low-income … Eventbrite - Upstate Minority Economic Alliance presents CARES Act 2021 PPP and EIDL Update! Congress has allocated another $20,000,000 in EIDL grants (advances) in the new stimulus bill. Eid al-Fitr for the year 2021 is celebrated/ observed on sundown of Wednesday, May 12th ending at sundown on Thursday, May 13th.. Eid al-Fitr is on the first day of the month of Shawwal (Islamic Calendar) and marks the end of Ramadan (month long fasting) and the beginning of a feast that breaks the fast.. Days to Eid al Fitr 2021 Since the declaration of the COVID-19 Pandemic, the SBA has approved over 3.6 million loans through the EIDL program in the first round. This is our SBA EIDL experience. Should be this week. Gather around a nice campfire filled with small biz owners and share your ideas and information, Press J to jump to the feed. To be eligible for the targeted EIDL program funds: An entity must apply during the covered period (January 31, 2020 to December 31, 2021), and this includes an entity that applied for funding prior to December 27, 2020. I had a question, wanted to see if anyone got the answer to it, I have 2 small businesses that are under a LLC. We don’t know exactly how SBA grants in 2021 will work, so be sure to check back with us here at Merchant Maverick for a full rundown on how the new EIDL grants operate once that information has been released by the SBA and IRS. I am the COO of a small family owned business that recently (finallly) got approved for an EIDL loan. EIDL Loan 2021 - SBA Grant for Small Business Application $10k to 150k. I got approved for 100% forgiveness on the PPP loan, just waiting for that to finish up. 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