SBA Economic Injury Disaster Loan EIDL COVID19 Relief FAQs

By Contributor published 4-24-2020 updated 9-4-2020
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The BI Guaranteed Loan program, as funded by the CARES ACT. The BI CARES Act Program will focus assistance to rural businesses, including agribusinesses and agricultural producers, with financial needs unmet by other Federal Government programs.

By Murray Wennerlund published 5-25-2020 updated 5-25-2020
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With more independent contractors, freelancers, gig workers being counted out of the disaster recovery process it looks like SBA Economic Injury Disaster Loans may be a low costs option but only if your business is going to be able to return.

By Murray Wennerlund published 8-6-2020 updated 8-6-2020
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Many of you can not take additional disaster debt burden and are in need of the CARES Act. Section 1110 Emergency Grant Advance to help. This grant designed to send small businesses 1,000 per employee is needed within the 3 days that the CARES Act stated

By Murray Wennerlund published 7-6-2020 updated 7-6-2020
Make a contribution | Print | SBALoanDeclined | 1.9K views

EIDL, EIDG to PPP SBA Duplication of Benefits Calculation. COMPENSATION FROM OTHER SOURCES

By Murray Wennerlund published 8-6-2020 updated 1-15-2022
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Unsatisfactory credit history, the stop to many that may have been a mistake but also may be true. Lets make sure we dont add disaster debt burden on our business and our household that can not be repaid. Whats the reason? Lets explore more options.

By Murray Wennerlund published 8-4-2020 updated 8-4-2020
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Youre not going to find this in the manual but if youre going to ask that your loan be cancelled and you want to stay in the program for the Emergency Grant Advance this is an option I think will assist you.

By Writers Pool published 8-5-2020 updated 8-25-2022
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Many of you are treating the Economic Injury Disaster Emergency Grant assistance as a Stimulus check.

By Writers Pool published 8-5-2020 updated 8-5-2020
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Congress could change the formula under the Small Business Act if it considered the language ambiguous, or it could designate an interest rate including a zero interest rate for all SBA EIDL for the duration of COVID-19.

By Writers Pool published 8-5-2020 updated 1-11-2022
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When you read all the different disaster resources available to you most will select the easiest application process over what is mathematically better for you. Do you think EIDL debt that has to be repaid with interest is better than PPP loans?

By Murray Wennerlund published 8-6-2020 updated 1-15-2022
Make a contribution | Print | DisasterManagement | 954 views