Editors note: The EIDL system is reopened at the time of June 15, 2020. It is possible to use today through the SBAвЂ™s on line portal.
Within the SBA’s Economic Injury Disaster Loan (EIDL) system, it is possible to make an application for a grant all the way to $10,000 that doesn’t should be repaid.
HereвЂ™s all you need to realize about the EIDL grant.
What’s the grant?
Yet another ten dollars billion had been allotted through the CARES Act to pay for SBA EIDL applicants an advance to their loans. This is evidently a response to how slowly the SBA has been able to process these applications with best guesses for the SBA processing time ranging from 90 days to several months.