I'm posting this here because this information is changing so fast. Basically, all of this money that congress just allocated is coming like it or not, but there are so many businesses that are impacted that the system is bogged down.
I'm most interested in the EIDL loans/grants, but the PPP loans/grants are getting all of the attention.
Here's the last SBA PDF Document: SBA - Disaster Loan Assistance
EIDL - Sole Proprietors, Small Business Owners, Contractors, etc.
PPL Loans - *** Updating information ***
This is the Payroll Protection Program. This is a much more heavily involved program to get money to companies that are smaller, there are more rules to follow, and you have to do this with a bank. So, as of right now (4/3/20 - 3PM Central time) you better get on the phone with your banker asap.
I'm most interested in the EIDL loans/grants, but the PPP loans/grants are getting all of the attention.
Here's the last SBA PDF Document: SBA - Disaster Loan Assistance
EIDL - Sole Proprietors, Small Business Owners, Contractors, etc.
- Go to this SBA page to get started: https://covid19relief.sba.gov
- Choose your type of business, answer the questions.
- They ask very broad questions such as total revenue and total COGS.
- That's very hard for someone like me to fill out, as I have websites that publish content that generates (a very small amount of) ad revenue, plus YouTube video ad revenue.
- I also have a business that sells some auto parts, etc.
- Be prepared to discuss employees, if you have any.
PPL Loans - *** Updating information ***
This is the Payroll Protection Program. This is a much more heavily involved program to get money to companies that are smaller, there are more rules to follow, and you have to do this with a bank. So, as of right now (4/3/20 - 3PM Central time) you better get on the phone with your banker asap.
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