Covid 19 - Resources for small businesses

download.jpgEconomic Injury Disaster Loans and Loan Advance


To apply for a COVID-19 Economic Injury Disaster Loan, click here.
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

COVID-19 ECONOMIC INJURY DISASTER LOAN


Paycheck Protection Program


other SBA programs:


State Unemployment Agencies (You may qualify for unemployment benefits now):
https://mikeysboard.com/threads/covid-19-resources-for-small-businesses.294932/post-4693339


Edit: State emergency/bridge loans (as I find them):

Florida

 
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Comments

Terry

Supportive Member
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May 18, 2007
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552
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Wrentham, MA
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Terry O'Brien
All the documents and information is on the sba.gov website.
you can apply for both the the EIDL and the PPP loan but you may have the 10,000 taken off the ppp loan. it really depends on what expenses you have.
The best way is to go through your business bank. I use bank of america and they went live just after 9am today for the ppp. All communication will be on line.
There wont be enough funds so if you're going to do it, get going.
 

rider0992

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Kenny Hayes
My CPA did both applications for me and we sent him downloaded documents from our bank that was needed. We haven’t done anything. They’re submitted.
 

Lyman

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Johnstown new york
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Lyman
Has any one heard about the eidl. I registered and have a account number but I can not find were to look for progress.
 

FredC

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Jul 13, 2011
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16,512
Has any one heard about the eidl. I registered and have a account number but I can not find were to look for progress.
I'm not sure you can check other than contacting the SBA maybe.

I have heard that they are looking to put additional qualification constraints on it and it has changed to "$1000 per employee up to 10k" but can't find anything definitive
 

jcooper

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Oct 7, 2006
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IL
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Jerry Cooper
I applied for the EDIL. The 2 million paid back over 30 years sounds like a screaming deal. I've already picked out the color of my new bass boat.

The edil process has been a joke.


They had 20 billion in the program with 390+ billion applied for. I wouldn't bank on getting anything from edil... They have changed guidance so many times even cpa's don't know wtf is going on.


Originally was 10k loan/advance that could be forgiven. Now sba changed the rule(after law was already written!) and it's 1k per employee according to their site. This was not on the forms/guidance we original received.

Hopefully the PPP program works better. We were able to get BOA site(for applying) to work late last night after it crashing a couple of times yesterday.

Good luck fellas
 

Lyman

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May 19, 2007
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Johnstown new york
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Lyman
New York governor said he is using every ones tax return for cash flow for the state. . I guess I better get to work and take my chances.
 
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rider0992

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Apr 17, 2009
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Red State
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Kenny Hayes
That would be about right! Whose gonna have an account to watch🤷🏼‍♂️ I ain’t gonna watch it in account I ain’t got any money!
 

steve_64

Member
Joined
Aug 11, 2012
Messages
10,643
Genny signed up for unemployment but haven't heard anything. No stimulus or anything yet but really never expected it.
We went backwards in checking for a couple months but think we stopped that now.
Work is picking back up just like every spring.
 

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