Coronavirus Stimulus Aid Package

[mgarfin]

Yes, but grant must be used for certain expenses such as payroll (under EIDL company doesn't have to have any), mortgage/rent, utilities etc all in the companies name.
I have a feeling most people will be seeing grants in the $500 range because of the volume of applications (remember it's up to 10k)

What's the feeling of 500 based on?
Supposably they should be funding the grant within three days of the application

[TBD]

Anyone actually filed a EIDL application under new current guidelines?

[S209]

Anyone actually filed a EIDL application under new current guidelines?

I filed an application yesterday. What are the new current guidelines? We’ll see if I get 10K by Monday

[churnbabychurn]

Per new guidance to banks tonight, one can get the 10k Grant and then the PPP.

[cgr]

Per new guidance to banks tonight, one can get the 10k Grant and then the PPP.

That was always the case. The 10k then gets deducted from the forgiveness request on the PPP.

[TBD]

Per new guidance to banks tonight, one can get the 10k Grant and then the PPP.

Whats the link to this info?

[TBD]

I filed an application yesterday. What are the new current guidelines? We’ll see if I get 10K by Monday

Thru whom did you file? SBA or a bank?
Which documents/proof did you have to provide?
DId you ask for a specific amount or it totally depends on what they approve?

[mgarfin]

Thru whom did you file? SBA or a bank?
Which documents/proof did you have to provide?
DId you ask for a specific amount or it totally depends on what they approve?

EIDL
Is filled for here
https://covid19relief.sba.gov/#/

PPP we be through sba lenders

[cholent]

What makes a business eligible for the EIDL grant?

[Jack out of the box]

Tried two sites and it will not let you e-file if your income is zero. Says IRS will not accept e-file for it and must be mailed.

Before getting to tricks of the pros, let's wait and see if the IRS opens a system for these cases. They did give indication that they may do something.

[S209]

What makes a business eligible for the EIDL grant?

Just about anything AFAIK. Your business just needs to have been substantially affected by Covid. Who’s hasn’t?

[S209]

Thru whom did you file? SBA or a bank?
Which documents/proof did you have to provide?
DId you ask for a specific amount or it totally depends on what they approve?

You don’t ask for an amount on the application although that might come later

[churnbabychurn]

That was always the case. The 10k then gets deducted from the forgiveness request on the PPP.

Source?

[Jack out of the box]

has anybody figured this out? or now that social security recipients will get it automatically everybody else (high school students and college freshmans) are out of luck

High school students and college freshmen may be dependents in which case they would not qualify for the handouts.

[mgarfin]

Source?

https://www.sbc.senate.gov/public/_cache/files/9/7/97ac840c-28b7-4e49-b872-d30a995d8dae/F2CF1DD78E6D6C8C8C3BF58C6D1DDB2B.small-business-owner-s-guide-to-the-cares-act-final-.pdf