PAYCHECK PROTECTION PROGRAM & EIDL GRANTS
If you are a small business and suffering from the effects of COVID-19 societal shutdown, The CARES Act may help you. I’ve attached a graph below to help you examine the option if your small business may benefit from one or both programs.
The EIDL Grants stand for “Economic Disaster Loan”; a low-interest, fixed rate loan up to $2 million.
The Paycheck Protection Program (PPP) is to help small businesses maintain their payroll and stay afloat during the COVID-19 pandemic. If an employer uses the money to maintain their payroll, the loan is forgiven.
Click on the link to see if your small business is eligible. Small Business Loans – COVID-19 relief
Here are some other helpful links to help stay connected and updated: