Thats what I got and thats what CPA I spoke with last night telling me other clients getting.
So the SBA is going to exhaust all EIDL funding from the stimulus bills on the up-to-$10k grants? I believe they got 4 million applications before they closed the first round, my guess many of those are for small businesses with fewer than 10 employees. Still $5-30bn but not everything they got. Then again, If $30bn is only enough to give up to $10k/applicant, there won’t be potential for much more with 4m applicants.
The reason EIDL is so interesting vs. PPP, is their interest rate $1% and loan term is supposedly up to 30 years. Let’s say I got a legitimate/justifiable loan at those terms to keep my business afloat, I might choose to not pay it off early since the interest rate is so low.