Mar 23, 2021 · Not sure if you need an EIDL loan, a PPP loan, or both? We break down how these two COVID-19 relief loans work and how to know which is right for your business.

Jan 9, 2025 · The Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) were essential in supporting businesses during the COVID-19 pandemic. However, with both programs now closed to new applications, businesses must now manage repayment obligations and explore new financing options.

Jan 5, 2024 · WASHINGTON – The U.S. Small Business Administration (SBA) has announced expanded flexibility and accommodations for COVID EIDL and PPP borrowers to help bring them into compliance and avoid the repercussions of defaulting on a government loan.

Mar 31, 2025 · This report updates Congress on progress made by the U.S. Small Business Administration (SBA) on the 39 open pandemic-related recommendations referenced in Office of Inspector General (OIG) Report 23-09, COVID-19 Pandemic EIDL and PPP Loan Fraud Landscape. Over the course of the Coronavirus Disease 2019 (COVID-19) pandemic, SBA disbursed approximately $1.2 trillion of COVID-19 Economic Injury ...

Dec 2, 2024 · PPP Loans: Primarily designed to help you keep employees on payroll during a crisis. You can apply for loan forgiveness if you meet certain criteria, like using at least 60% of the loan for payroll. EIDL Loans: More flexible and intended to …

The two biggest stimulus programs for small businesses are the SBA’s Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP). What are the differences between them? Is one better than the other?

Loan forgiveness is available for PPP loans if the business follows specific loan forgiveness rules from the SBA. Here’s how these two loan types work and how to qualify: Economic Injury Disaster Loans (EIDL)

Jan 15, 2025 · Understanding the key differences between the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) is crucial for making informed financial decisions. The PPP aims to help businesses maintain payroll during economic disturbances.

May 13, 2024 · Discover how you can take advantage of the potential forgivable nature of PPP loans for payroll costs and the sustaining lifeline of EIDL for other expenses. Demystifying PPP and EIDL is your first step towards more informed business decisions.

May 22, 2020 · These are two separate programs and the benefits of each depend on your business and situation. For first-time PPP loans, a business can borrow up to 2.5 times their average monthly payroll in loans that are 100% forgivable if they do not lay off any employees or if they rehire employees they’ve already laid off.