Advertiser Disclosure

๐Ÿฆ Get funded today with one of our top 5 lenders for 2021

What The Stimulus Package Says About The New EIDL Grants Coming In 2021

Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Chris Motola

Chris Motola

Finance Writer at Merchant Maverick
Chris Motola is a writer, programmer, game designer, and product of NY. These days he's mostly writing about financial products, but in a past life he wrote about health care and business. He's a graduate of the University of Central Florida.

Sources

Leave a comment

15 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Darleen

    Hi am I limited to what I use my $10,000 grant money on? Iโ€™m a sole proprietor/independent contractor I stopped receiving work from the agency I got my massage clients from due to covid 19 Iโ€™ve been unable to this day to regain those clients back and. to this day Iโ€™m still unemployed I lost money that I would have not lost if not for the shutdown

      Jessica Dinsmore

      Hi Darleen,

      I’m so sorry this happened to you. Our post on “How You Can (& Canโ€™t) Use Your Economic Injury Disaster Loan & Advance” should help you determine the best ways to utilize any EIDL funds you receive. Best of luck to you!

        New biz 2021

        For a 1 person gig business start-up in Jan or Feb 2021 what does any of the stimulus provides?

          Jessica Dinsmore

          Hi there,
          The current programs are aimed at helping established businesses that have lost money since the lockdown began, so if you’re just starting out doing gig work, they generally won’t apply to you unless you were operational by February 15, 2020.

            Catherine

            So when can we apply for the grant. I have search and not found any where to apply. unless I am overlooking some. Can someone please help me

              Jessica Dinsmore

              Hi Catherine,

              Here are the details on the Targeted EIDL Grant/Advance.

              You cannot directly apply for the new Targeted EIDL Advance, but the SBA will reach out to you if youโ€™re eligible. You will not be eligible to receive the forgivable grant if you did not previously apply for an EIDL Grant in 2020.

              However, you can still apply for a low-interest EIDL loan from the SBA; these loans are not forgivable and must be repaid. They are separate from the Targeted EIDL Grant.

                Mike

                Good Information. I still have not heard whether or not the SBA will give the previous EIDL grant recipients the remainder of the ten thousand minus what they received last year, as in my case of $1,000.00. I am an independent contractor, so I am by myself. After reading provisions of the bill I feel as if Congress was upset about when the SBA did this. I am under the impression this might be fixed and I might get my remaining 9K. Any thoughts on this?

                  Jessica Dinsmore

                  Hi Mike,

                  As long as you meet the new qualifications for the renewed EIDL grants, you can still get additional funds so long as the total amount doesn’t exceed $10K. That doesn’t necessarily mean you’ll get $9K though. You’re still limited by the number of employees, and if you’re a contractor, that just means one. So you may be able to get another $1k, potentially.

                    Don Taylor

                    I am interested in the PPP and EIDL

                      Jessica Dinsmore

                      Hi Don,

                      If you are looking for info, we have a post on the new Targeted EIDL grant/advance as well as PPP Round 2.

                        Theo

                        Thanks for the update. The blue highlight boxes at the top of the page are perfect. I’ve been searching high and low for reliable info on the 2nd round of EIDL. Looks like I found my go-to spot!

                          Jessica Dinsmore

                          So glad Theo!! Thanks for letting us know!

                            andre l Williams

                            this was good info

                              richard sales

                              please let me know when edil grant can i apply for

                                Jessica Dinsmore

                                Hi Richard,

                                You can find info on the Targeted EIDL Advance Grant Program that was recently renewed in this post.

                                Leave a Reply

                                Your email address will not be published. Required fields are marked *

                                Your Review

                                Comment moderation is enabled. Your comment may take some time to appear.
                                Please read the "User Review and Comment Policy" before posting.

                                Share

                                Get Started With Featured Pick! ๐Ÿ†

                                is our current featured vendor in this category.




                                Get Started

                                Learn more today with no commitment.

                                Featured Offer: We Recommend QuickBooks ๐ŸŽ‰

                                Take it for a spin with a free trial.

                                Try QuickBooks Today

                                We Recommend Lightspeed POS ๐Ÿ†

                                Lightspeed POS is one of our top picks for Point of Sale!

                                 

                                 

                                We highly recommend Lightspeed POS for small businesses looking for a feature-rich, tablet-based point of sale system.

                                Get Started

                                Get started with no commitment today.

                                We Recommend Divvy Card ๐Ÿ†

                                Divvy Card is one of our top picks for Corporate Charge Cards!

                                 

                                 

                                Divvy offers a free corporate card for virtually any business. Start earning rewards with your corporate spending today.

                                Get Started

                                Get started with no commitment today.

                                We Recommend PaymentCloud ๐Ÿ†

                                PaymentCloud is one of our top picks for credit card processing!

                                 

                                 

                                We love PaymentCloud's predictable pricing and excellent service.

                                Get Started

                                Get started with no commitment today.

                                We Recommend PaymentCloud ๐Ÿ†

                                PaymentCloud is one of our top picks for credit card processing!

                                 

                                 

                                We love PaymentCloud's predictable pricing and excellent service.

                                Get Started

                                Get started with no commitment today.

                                We Recommend Donorbox ๐Ÿ†

                                Donorbox is one of our top picks for Donation Systems!

                                 

                                 

                                Donorbox is a versatile, feature-rich, and easy-to-use donation management system that can help you attract more recurring donors. Get started today for free.

                                Get Started

                                Get started with no commitment today.

                                We Recommend Square Online ๐Ÿ†

                                Square Online is one of our top picks for eCommerce Platforms!

                                 

                                 

                                Get a website builder, online ordering, gift cards, in-store pick-up options, and dozens of other features for eCommerce and hybrid businesses. No credit card is required to sign up!

                                Get Started

                                Get started with no commitment today.

                                We Recommend Stax By Fattmerchant ๐Ÿ†

                                Stax By Fattmerchant is one of our top picks for Credit Card Processing!

                                 

                                 

                                We love Fattmerchant as a credit card processor for its predictable pricing, excellent service, and integrated billing features. Get started today and get your first month for $5 with an exclusive Merchant Maverick promo.

                                Get Started

                                Get started with no commitment today.

                                We Recommend Helcim ๐Ÿ†

                                Helcim is one of our top picks for payment processing!

                                 

                                 

                                Helcim has exceptional service and an advanced platform that we highly recommend for businesses in Canada and the US. Get three months free when you sign up with Helcim through our links!

                                Get Started

                                Get started with no commitment today.

                                We Recommend PaymentCloud ๐Ÿ†

                                PaymentCloud is one of our top picks for credit card processing!

                                 

                                 

                                We love PaymentCloud's predictable pricing and excellent service.

                                Get Started

                                Get started with no commitment today.

                                We Recommend OnDeck ๐Ÿ†

                                OnDeck is one of our top picks for Business Loans!

                                 

                                 

                                OnDeck is our featured vendor for business loans and lines of credit. If you have at least one year in business, a personal credit score of 600 or higher, and $100K in annual revenue, OnDeck is ready to help your business get funded.

                                Get Started

                                Get started with no commitment today.

                                We Recommend Lendio ๐Ÿ†

                                Lendio is one of our top picks for PPP/Business Financing!

                                 

                                 

                                Lendio is a free-to-use marketplace that allows you to compare lenders side-by-side. Easily find PPP/SBA loans alongside other financing options.

                                Get Started

                                Get started with no commitment today.

                                We Recommend PaymentCloud ๐Ÿ†

                                PaymentCloud is one of our top picks for credit card processing!

                                 

                                 

                                We love PaymentCloud's predictable pricing and excellent service.

                                Get Started

                                Get started with no commitment today.

                                We Recommend ADP Payroll ๐Ÿ†

                                ADP Payroll is one of our top picks for Payroll Software!

                                 

                                 

                                Our reviewers like ADP Payroll for its advanced employee management, strong payroll features, and great customer support.๐Ÿ‘

                                For a limited time, get three months free when you sign up via our links!

                                Get Started

                                Get started with no commitment today.

                                We Recommend Revel POS ๐Ÿ†

                                Revel POS is one of our top picks for Point of Sale!

                                 

                                 

                                We love Revel POS for its advanced features and exceptional versatiliy in both the retail and restaurant industries. Get a demo today to find out everything Revel has to offer!

                                Get Started

                                Get started with no commitment today.

                                We Recommend TouchBistro ๐Ÿ†

                                TouchBistro is one of our top picks for Restaurant POS!

                                 

                                 

                                Our reviewers praised TouchBistro for a well-designed UI, easy to use format, competitive monthly cost, and numerous integrations. Sign up today to see it in action.

                                Get Started

                                Get started with no commitment today.

                                PPP & EIDL Are Not Your Only Options

                                The SBA has expanded their loan portfolio and we have the list that no one else is talking about (yet) โ€” Sign up for our newsletter to get your free copy!

                                • This field is for validation purposes and should be left unchanged.

                                We Recommend Fundera ๐Ÿ†

                                Fundera is one of our top picks for SBA loans!

                                 

                                 

                                Fundera is a free-to-use marketplace that allows you to compare lenders side-by-side. Easily find SBA 7(a)loans alongside other financing options.

                                Get Started

                                Get started with no commitment today.

                                We Recommend ShippingEasy ๐Ÿ†

                                ShippingEasy is one of our top picks for shipping software!

                                 

                                 

                                ShippingEasy got a 5-star review from our team. Get a 30-day free trial to access discounted USPS and UPS shipping rates and print labels in no time. No credit card required.

                                Get Started

                                Get started with no commitment today.

                                We Recommend Square POS ๐Ÿ†

                                Square POS is one of our top picks for Point of Sale!

                                 

                                 

                                Square is free to use and currently includes a free card reader at sign-up!

                                No credit card is required to create your account.

                                Get Started

                                Get started with no commitment today.


                                ย 

                                Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are authorโ€™s alone.

                                Sign up for the Maverick Newsletter

                                • Please select topics of interest

                                • We occasionally send out emails with special offers.