5 months ago. My EIDL app is 33029***** I have only got a generic email on 4/13 and 4/14 (the same one) stating the new $1,000 per employee thing. In the following link you can use the box options to filter by state, then your county, then zoom in to get your local median income to compare. Was talking to my accountant and he said the EIDL loan is potentially going to be made into a grant/forgivable/I won’t have to pay it back and that I should ask my bank about it. There is a final reconciliation taking place today Tuesday 7/14 and Wednesday 7/15 in which several hundred thousand outstanding grants will be distributed. Rental Assistance & Unemployment Benefits … Press J to jump to the feed. Rich communities have more recourse and capital .. A community for redditors that are tax professionals. Archived. I'm in the same situation with a March application date. In response to the coronavirus pandemic, small business owners in all U.S. states, Washington D.C., and territories are able to apply for an Economic Injury Disaster Loan (EIDL) Emergency Advance of up to $10,000. PLEASE DO NOT CONTACT THE SBA AND ASK ABOUT THIS YET. So as others have been seeing, I got an email at 3:57am PT this morning to take the 15k EIDL loan, with the 10,000k advance … Press J to jump to the feed. If you were on the final list but had some bank issue that prevented the deposit, it is within reason to assume they may attempt to work that out. EIDL Program and Advance Updates. EIDL Grant money not being paid because of your credit check?A massive amount of EIDL Grant 10000 money was delivered on 5/1/2020 to EIDL Grant Applicants. If you do not receive a deposit by Thursday the 16th, it is highly unlikely you will receive anything as far as the advance/grant. The system only accepts your early applications. 6. The current bill has veto proof majority so it won’t matter if Trump vetoes, https://www.cdfifund.gov/Pages/Opportunity-Zones.aspx, so, If you live in rich community even thought you are not, you do not qualifie for the grant ! You are a business with less than 500 employees. Well, I breakdown everything here and unpackage what you need to know in regards to the EIDL Grant, the Paycheck Protection Program, and I also give an update on the Second Stimulus Check and what you can expect! Press J to jump to the feed. 0 comments. New EIDL Grant and "Low Income Community" COVID: 2020 Relief 2 (BBOCR) Close. If you are deemed eligible, the $1,000 will be deposited into your bank account and DOES NOT need to be repaid. best. Be the first to share what you think! This is true. This is truth. There are two parts to the EIDL: A $1,000 grant called an “advance” and a loan request. Log In Sign Up. The EIDL grant or the EIDL advance is currently closed to new applicants. It appears that SBA may have started investing the EIDL Grant, which is the free grant of $1k to $10k depending on your employee count, and the EIDL Loan application process for fraudulent applicants. Over 3 million small businesses, sole proprietors, and independent contractors have applied for the $10,000 EIDL Advance Loan. Posted by. 4454 . share. I have some updates for the EIDL program. #SBA #EIDL #StimulusUpdateWe cover the stimulus check under the stimulus bill under the CARES Act. Close. As you know, the President signed the COVID Relief and Appropriations Bill tonight. Please sign the bill President Trump so the SBA can give me the rest of my EIDL grant I applied … Press J to jump to the feed. Getting funding for the advance as a new applicant at this time will not be possible. To be eligible for EIDL Grant, you must have less than 500 employees. Key Points. Any updates on the EIDL emergency grant will be posted here and the post will be updated regularly. Posted by 1 day ago. Same here as well. You are an agricultural employer with less than 500 employees. There is no guidance, no materials, and no way for anyone to tell you how to get the grant or what qualifies/what does not. We're also covering the HEROES Act And HEALS Act. Applicants previously could accept an “advance” of up to $10,000 that is considered a “grant” and does not need to be repaid. 70 . Getting funding for the advance as a new applicant at this time will … EIDL Updates. Here in the Kwak Brothers, we've been following the SBA EIDL loan and the grant program for sometime. A close friend just got thier grant today. The option has been removed from new applications. You may wish to save your efforts in reaching out to the SBA past this point as it is unlikely they can help and more likely they will give you wrong information. If you have an older application that was approved for the grant or you were approved for grant reconsideration, there still may be a chance you will be funded. I received the email that restored my eligibility, but no deposit as of yet. 00:00 New SBA Rules for Economic Injury Disaster Loan Advance program. EIDL Overview EIDLs provide up to $2 million, with a loan term of up to 30 years that can be used to pay for expenses that could have been met had the disaster not occurred, including working capital needs such as fixed debt and payroll and other operating expenses. EIDL News 7/14 - Update regarding the current status of the Advance/Grant Program and Final Disbursements Expected News As most of you already know, the EIDL Advance/Grant program has ended and the full 20 billion in funding for the advance has been exhausted. 0. Federal grant funds have run out for small businesses, farms and nonprofits trying to survive the coronavirus pandemic, officials said Sunday. 81. Press question mark to learn the rest of the keyboard shortcuts. Posted by 7 months ago. save. I applied the same day lol - did you happen to accept the loan? Log In Sign Up. For businesses affected by COVID-19, an update to the Small Business Administration’s Economic Injury Disaster Loan Program was supposed to provide a … The advance does not have to be repaid. https://data.clarionledger.com/american-community-survey/united-states/median-household-income/total/num/01000US/. Published Mon, Jul 13 2020 12:35 PM EDT Updated Mon, Jul 13 2020 12:40 PM EDT. By using our Services or clicking I agree, you agree to our use of cookies. Where do we even find maps / census information for this? When applying for the grant, you must select the type of business you have. A bit off the cuff, but is that the same definition as federal opportunity zones? Please do not email me about it, as unfortunately at this time I can only assist with the loan itself which still has plenty of funding for the foreseeable future. Extra $1,000 Stimulus Check For Seniors: Stimulus Update & EIDL Grant. no comments yet. and in the meantime people are getting millions of dollars and the small people are out again! Log in or sign up to leave a comment Log In Sign Up. Got the e-mail about still being eligible for the grant on 7/1. One of those programs is the Economic Injury Disaster Loan program (EIDL), usually reserved for disasters like hurricanes and earthquakes. However, the SBA announced on July 11th that the EIDL … Now on to the SBA Emergency Income Disaster Loan (EIDL). Press question mark to learn the rest of the keyboard shortcuts. Sort by. In the first link you shared if you select the state and county, then choose poverty status, it does break it down by census tract. As most of you already know, the EIDL Advance/Grant program has ended and the full 20 billion in funding for the advance has been exhausted. CPA. … Adam Snyder Published at : 22 Dec 2020 . 4 4. There is some remaining confusion I wanted to clear up due to some misinformation going around on social media and also from customer service reps. I'm using Chime who sent back both ACH deposits due to personal name on account not matching my business name. EIDL Grant | SBA Investigating Frauds!!!! Cookies help us deliver our Services. GRANT DEPOSIT MADE THIS MORNING. I was denied the loan based on poor credit. EIDL Updates. What if we need to update bank in formation to receive the grant because of misinformation?! Press question mark to learn the rest of the keyboard shortcuts. Emergency grant program for small businesses is out of money. Episode 17: August 21st Weekly Update August 21, 2020. Does anyone know what kind of credit score they require? I got funded in September with no grant, am I eligible for a forgivable 10,000 based on the new law? Separately, you may also be offered a loan, which you can either accept or decline. I kinda lost faith in the EIDL $10,000 grant and applied for the PPP program through PayPal about 5 days ago hoping today something would happen. EIDL Grant Update - EXCLUSIVE: SBA to Deposit FINAL Advances This Week! Thank you so much Cue378. User account menu. 5 days ago . This is awesome! EIDL News 7/14 - Update regarding the current status of the Advance/Grant Program and Final Disbursements Expected. Emergency EIDL Grant program (also referred to as EIDL advance) data by the number and amount of grants approved by state. View Entire Discussion (0 Comments) More posts from the EIDL community. Everything thing you have done thus far is very much appreciate by all of use small business owners. The EIDL program is traditionally a loan, but for the short period between January 31, 2020 and December 31, 2020, it will have a grant portion as well if the economic hardship is caused by COVID-19. This would provide reprieve for people who fall under the "poor but in a moderate / wealthy census tract" category. This free tracker is for informational purposes only based on self-reported data. Disclaimer: We are not affiliated with any public agency nor are we the SBA. I just want to clarify, I mentioned highly unlikely but not impossible. Sent an email to PDC.Reconsideration@sba.gov with my updated bank info yesterday no reply yet but I received a letter I was approved for the grant. This has the language for the EIDL Grant (v2) in it. A couple of days ago. Contact the sba and tell them to withdraw your application and then apply again. EIDL Grant. Ive seen several people on other eidl posts say they received their grant today. EIDL: Loan or a grant? Hey all. Show all . It isn't a census tract but can work to give you an idea of your location once you zero in on your neighborhood. The SBA Is Accepting a New Round of EIDL and Grant Applications. (1) In general The term “low-income community” means any population census tract if— (A) the poverty rate for such tract is at least 20 percent, or (B) (i) in the case of a tract not located within a metropolitan area, the median family income for such tract does not exceed 80 percent of statewide median family income, or (ii) in the case of a tract located within a metropolitan area, the median family income for such tract does not exceed 80 percent of the greater of statewide median family income or the metropolitan area median family income. New EIDL Grant and "Low Income Community" COVID: 2020 Relief 2 (BBOCR) I understand the definition based on 26 USC § 45D(e)(1); however, will there be a way to search this? Last week, the CARES act was signed into law and allocated $350 billion dollars in aid and relief for small businesses. Share this & earn $10. May I ask what was your initial application date? I get a high volume of email traffic regarding the advance/grant. Update April 21: Even though I put 0 employees, I got $1000 from the SBA EIDL program! Close • Posted by 1 hour ago. EIDL grant? This EIDL grant includes an emergency advance of up to $10,000. The option has been removed from new applications. EIDL Grant and EIDL Loan Applications are now being investigated for Fraud! What is an EIDL Advance Grant? Close. 38240 views . This can be any of the following. The Economic Injury Disaster Loan Advance Program has … Get Updates on $10,000 EIDL Application. Update: Got approved for EIDL, 2 Hard Credit Hits. This information is golden and much appreciated thanks. 100% Upvoted. This is bill that is proposing additional fund to be allocated to the EIDL program the … Where do we even find maps / census information for this? News . The EIDL loan amount can reportedly be up to $150,000, while the Emergency Advance is capped at $10,000. report. Looks like the EIDL grant I wanted is finally here. The first thing we want to mention with the EIDL is the Advance, which was authorized in the CARES Act. so basically, you saying that i will finally get a grant for my 3/29 application and if it doesnt show up before the end of the week that means im not getting it . RIP to the free $10K EIDL Grant But you can still apply for the EIDL loan, which still needs to be paid back and can not be forgiven. Cookies help us deliver our Services. Maybe moot, as the President refused to sign the bill after saying he would. Greg Iacurci @GregIacurci. Has anyone considered whether eligibility could apply under Section 45D(e)(2) (with qualifications specifically defined by CFR 1-45D-1)? In this video I'm talking about the EIDL loan grant update for August 11th 2020. They will email you their decision and for how much of a loan you are approved. Subscribe to Adam Snyder. Sad but true...I can finally let my nail grow. No hear say. Professional development, firm procedures, news, policy, software, AICPA/IRS changes, news/updates about law relating to any tax - U.S. and International, Federal, State, or local. Posted by 3 months ago. Check Self-Reported Progress . By using our Services or clicking I agree, you agree to our use of cookies. EIDL Grant Eligibility. 81. In this video I'm talking about the EIDL Grant update for July 12th 2020. Any updates on the EIDL emergency grant will be posted here and the post will be updated regularly. Subparagraph (B) shall be applied using possessionwide median family income in the case of census tracts located within a possession of the United States. EIDL Program Update - MORE Money! Small businesses and agricultural businesses also may apply for the grant, equal to $1,000 per employee of the business up to a maximum of $10,000. There is also an article about this new EIDL section here that goes into all of the details: https://www.nav.com/blog/new-eidl-grants-do-you-qualify-777085/. This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. I have no employees (I am a sole-prop). Press question mark to learn the rest of the keyboard shortcuts. I am not really sure if it’s the same definition as opportunity zones. I asked my bank about it, they said they don’t deal with that, and to look up on sba website. this is just stupid. I understand the definition based on 26 USC § 45D(e)(1) ; however, will there be a way to search this? 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