We have been happy to learn you to definitely customers are beginning to discover funds from the latest SBA or training you will in the future discover currency. I and know you’ve got questions relating to how to handle it second. Below is actually condition concerning your EIDL and you may PPP money with each other which have website links so you can an insightful webinar and useful spreadsheet.
There are 2 pieces towards Monetary Injury Crisis Loan (EIDL) program: brand new EIDL offer as much as $10,100 as well as the EIDL financing. We shall first defense the latest EIDL offer.
The grant would be transferred throughout the membership on the SBA software to have a cost around $10,000. The very last amount of the brand new give relies on the number out-of staff you may have. The newest SBA provides $step one,100000 per staff to the utmost $ten,100 give.
There will be no other notification from the SBA regarding the grant, and receipt of the grant does not mean you were approved for the bigger EIDL loan. You don’t need yet another family savings to your EIDL offer (you will need separate accounts for the main EIDL loan and PPP loan). We recommend that you use the grant money to pay for operating expenses excluding payroll, rent, and utilities. Continue reading “Condition Concerning your EIDL and PPP Financing”