Advertiser Disclosure

🏦 Get funded today with one of our top lenders for 2021

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

    Chris Motola
  • 15 comments
  • Updated on:
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

Expert Analyst & Reviewer at Merchant Maverick
An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. He has been cited in various industry publications, including Forbes Advisor, GoBankingRates, and Medium. Chris is a graduate of the University of Central Florida.
Chris Motola
View Chris Motola's professional experience on LinkedIn.

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? I’m a sole proprietor/independent contractor I stopped receiving work from the agency I got my massage clients from due to covid 19 I’ve been unable to this day to regain those clients back and. to this day I’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 (& Can’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 you’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

                                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 author’s alone.

                                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) — Sign up for our newsletter to get your free copy!

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

                                Sign up for the Maverick Newsletter

                                • Please select topics of interest

                                • We occasionally send out emails with special offers.
                                • This field is for validation purposes and should be left unchanged.