The Small Business Administration’s Economic Injury Disaster Loan (EIDL) Advance program officially ended Sunday, July 11, 2020. This was the program that provided grants of $1,000 per employee, up to $10,000 to applicants for the EIDL loans. The Advance program was ended after expending its $20 billion in funding.
The EIDL loan program is still open and encouraging applications. The EIDL loan is a program that provides funding for small businesses that have suffered an economic injury because of the pandemic. The loans have a thirty (30) year maturity, bear interest at 3.75% per annum (2.75% for non-profits) and have a one-year payment deferral.
For more information about COVID-19 programs, see our website: www.patrickneale.com. Always feel free to contact Patrick Neale & Associates with questions about these programs or any other issue. 239-642-1485. firstname.lastname@example.org