If you have suffered substantial economic injury and are one of the following types of businesses located in a declared disaster area, you may be eligible for the relief loan, SBA Economic Injury Disaster Loan (EIDL) or Paycheck Protection Program (PPP):
Through these unprecedented times wrought by the coronavirus pandemic, the Economic Injury Disaster Loans (EIDL) program has been expanded for businesses that are in need of financing support. In addition to the EIDL being made more accessible to businesses that have suffered economic hardship due to the pandemic, 2 grant programs have been added: the EEIG, and the new, targeted EIDL grant.
As part if an end-of-year pandemic relief loan package, Congress has passed several changes to the Paycheck Protection Program (PPP) and created a “Second Draw” PPP for small businesses who have exhausted their initial loan. Other changes impact eligibility for initial PPP loans, the loan forgiveness process, and the tax treatment of PPP loans