Question

SBA Disaster LoansNEW SBA LOANS

Asked a question 10 months ago

I have a client who recently applied (their application was submitted last Friday) for an Economic Injury Disaster Loan (EIDL) directly through the SBA. Should they stay the course on the EIDL process or switch to the Paycheck Protection Program (PPP) or will all pending EIDL applications get routed into the PPP process?

Where am I?

In Multifunding SBA CoronaVirus Support you can ask and answer questions and share your experience with others!

No answers yet.

We've already applied for an EIDL loan (pending), can we apply to the PPP loan and how will these two loans work together? Can the EIDL be used to cover what PPP doesn't?

Any feedback yet from the first round of filed EIDL applications?

If I was in business in 2019 but only started payroll in 2020, can I use the 2020 payroll to calculate the average monthly payroll for EIDL and PPP application?

For the EIDL grant application, are you aware of whether independent contractors would be considered employees for the question on # of employees?

Is an individual (with an EIN number) who pays for home help for a spouse with Dementia eligible to apply for an ... are taken out for the two employees.

Can either the PPP or EIDL funds also be used for hiring new employees & vendors, or are funds limited to helping existing employees & vendors only?