EIDL $10,000 grants

[jpdx]

There has been much chatter on the internet about the SBA Economic Injury Disaster Loans (EIDL), with grants of “up to $10,000” for your business. Loads of people have applied; has anyone received any funds or correspondence? If you know anything, please post it here.

[KarefulKactus15]

Nothing exciting. My local bank is taking the applications.  100 Person backlog already, and this is a small local bank.

[ketchup]

GF applied on Thursday last week, heard nothing since.  Her business (self-employed showdog photographer) has ground to a halt as of a few weeks ago.  Her entire business model relies on large gatherings of people (dog shows), and they are all cancelled.

I know they promise "three days" after applying until the funds are deposited, but apparently due to extreme demand (who would have thought?) it's taking longer.

[jpdx]

There's an update from the SBA:

https://content.govdelivery.com/accounts/USSBA/bulletins/284f240

Most notably, it says "EIDL Loan advances will start to be distributed this week.  $1000 per employee up to $10,000 max."

How are the defining "employee?" I assume they are simply basing this on the number you enter in the streamlined application. I entered 2 for my 2-member LLC, although neither member is an actual employee paid through payroll.

Kroaler, I think you are referring to the PPP loan, which is different than the EIDL. For the EIDL grant, you can apply directly via the SBA website.

[KarefulKactus15]

Hmm I didnt realize it was different.  I just applied.  The whole things been a little confusing.

However - I doubt well qualify because we didnt have 12 months of prior earning or expenses.

We shall see...