Application Link: https://covid19relief.sba.gov/#/
Qualifications for the Small Business Administration EIDL Relief Fund (Grant). Eligibility requirements for getting the full $10,000 regardless of how many employees you have in your business. Keep in mind, this is a forgivable loan and DOES NOT need to be paid back.
In this video, I go over the qualifications for your business, how to be approved and apply for this forgivable loan, or better considered as FREE MONEY. ;)
The SBA EIDL Grant is part of the Stimulus package passed by the U.S. House and Senate, The CARES Act. Under Section 1110. Emergency EIDL Grants, the CARES Act pretty much spells out a FREE $10,000 EIDL Grant to be issued out to all applicants who apply for the EIDL (Economic Injury Disaster Loan). This program has been around for awhile but the CARES Act has expanded and waived requirements to allow more businesses apply for the loan.
2nd Stimulus Check Update & SBA EIDL Grant Forgivable Loan Qualifications PPP Free Money Eligibility
So what is the difference between the PPP (Paycheck Protection Program) vs EIDL? (Economic Injury Disaster Loan) or some call this Economic Injury Disaster Relief? Both programs are designed to stimulate and help small businesses with less than 500 employees (or industry size restrictions). Both programs have been created or been modified under the CARES Act which was passed about 2 weeks ago at the time of this video's release. So what are the main differences? Which one should you apply for? What SBA programs do you need to learn about?
EIDL Loan Application: https://covid19relief.sba.gov/
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