The EIDL is a loan directly from the SBA that offers a low-interest, fixed rate, long-term loan that is available to businesses that were impacted by the pandemic. Unlike the PPP, the EIDL must be repaid and cannot be forgiven. Below are the updates to the EIDL program: Maximum loan amount increased from $500,000 to Read the full article…
We have rescheduled this webinar due to the delay in the release of the new regulations from the SBA, the new date is April 1st. The $1.9 trillion American Rescue Plan Act of 2021 (“ARPA”) is the second-largest government economic stimulus package in US history, coming a little less than a year after the $2.2 Read the full article…
On Thursday, May 28th, the House of Representatives passed a Bill, that, if ratified by the Senate and the President, would make significant changes to the rules governing forgiveness of PPP loans. The Bill, HR 7010, the Paycheck Protection Program Flexibility Act of 2020, was sponsored by Rep. Dean Phillips, (D-MN-3) and co-authored by Rep. Read the full article…
![[Updated] The Economic Injury Disaster Loan (EIDL) Program vs The Paycheck Protection Program (PPP) – Comparison Chart](https://www.krostcpas.com/wp-content/uploads/The-Economic-Injury-Disaster-Loan-EIDL-Program-vs-The-Paycheck-Protection-Program-PPP-1.jpg "[Updated] The Economic Injury Disaster Loan (EIDL) Program vs The Paycheck Protection Program (PPP) – Comparison Chart")
Updated on April 7, 2020 – Following the declaration of a national emergency to combat the Coronavirus (COVID-19) pandemic, the Small Business Administration (SBA) launched the Economic Injury Disaster Loan Assistance (EIDL) program for small business owners in all US states, Washington D.C., and other US territories. EIDL loans are now available. In addition to Read the full article…
