Press question mark to learn the rest of the keyboard shortcuts. Are we approved? On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). Then 6 hours later I got the "Create your SBA Economic Injury Disaster Loan Portal Account" email. SBA Office of Disaster Assistance | 1-800-659-2955 | 409 3rd St, SW. Washington, DC 20416 So you will get $1000 as of this email? If you applied, I'm willing to bet you'll eventually hear from the SBA in some form. From what I've seen you should be entitled to 2k, New comments cannot be posted and votes cannot be cast, More posts from the smallbusiness community, Questions and answers about starting, owning, and growing a small business, Press J to jump to the feed. Applied 3/29 and hard pull from “US SM BUS ADMIN ODA” on experian only. or nothing? The CARES Act included $10 billion in funding to provide advance emergency grants of $10,000 to small businesses and nonprofits that also apply for a SBA economic injury disaster loan. The SBA Disaster Loan program became available to small business prior to the coronavirus crisis. Federal SBA Economic Injury Disaster Loan Advance SBA 7(a) Loan Program Paycheck Protection Program (PPP) Loans Small Business Debt Relief Program Other sources of emergency support Otras fuentes de asistencia para emergencias. Notice: As of June 15, the SBA resumed accepting new Economic Injury Disaster Loan (EIDL) applications. I have had no credit pull, applied on the evening of the 30th. But, nobody has been getting it right now. This $10,000 advance is an emergency grant from the government, which is designed to provide small businesses with working capital to pay expenses like payroll costs, mortgage payments, and more, while their EIDL loan application is considered. Here's what you need to know about the Economic Injury Disaster Loan program (EIDL). My friend just said she got it as well. Understanding the $10K SBA Economic Injury Disaster Loan (EIDL) Advance. "The CARES Act included a requirement that a $10,000 grant be awarded within 3 days of an application to the SBA’s Economic Injury Disaster Loan program to help cover operating expenses while waiting for the loan … Just got update email. Economic Injury Disaster Loan Emergency Advance for Independent Contractors (DoorDash, Instacart, Uber Eats etc) Yeah hi, just wondering if we in which I mean the gig community can or actually can be accepted to get this loan? Same here. The SBA provides low-interest disaster loans to help businesses and homeowners recover from declared disasters. Hoping for something soon! The Advance is available as part of the full EIDL application and will be transferred into the account you provide shortly after your application is submitted. These emergency grants will be provided to applicants within three days of applying for the loan. I’ve had 2 credit pulls now but haven’t heard anything other than a confirmation email. SBA disaster loans and emergency grants are back: Here’s what small businesses need to know The Small Business Administration is reopening its Economic Injury Disaster Loans, or EDIL program. Go apply and let them sort it out. After the national disaster was declared in March, funds became available to help small businesses impacted by the pandemic. Governor’s Maryland Strong Economic Recovery Initiative (MD-SERI). Just my opinion, but I don't see a benefit to submitting another application. Yes, in theory. I also just got this email about 6 minutes ago. The amount of the Advance is determined by the number of employees you had before the onset of the coronavirus (i.e., as of January 31, 2020). So if someone files self employment schedule C with their taxes or receive 1099, they should be able to apply for EIDL, whether it is doordash, instacart, etc. Cookies help us deliver our Services. I currently work for Instacart and my status is a indepedent contractor, which is the exact same wording it has on here. Will post if I receive a deposit! The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, allocates $349 billion to help small businesses keep workers employed amid the current circumstances they are encountering.The CARES Act provides funding for the Paycheck Protection Program, modifies the existing Economic Injury Disaster Loan (EIDL) program and provides immediate loan … The Economic Injury Disaster Loan and Loan Advance (EIDL) program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to the COVID-19 public health crisis. Cookies help us deliver our Services. BUT at least they're owning it now: On March 29, 2020, following the passage of the CARES Act, the SBA provided small business owners and non-profits impacted by COVID-19 with the opportunity to obtain up to a $10,000 Advance on their Economic Injury Disaster Loan (EIDL). As demand spikes for federal funds, new guidance and stalled payouts from the SBA on its Economic Injury Disaster Loans and advance grants are adding to frustrations and fears on Main Street. Eidl Economic Injury Disaster Loan Portal Account '' email senior democratic lawmakers a. Willing to bet you 'll eventually hear from the SBA Disaster Loan ( below. Another application got the `` Create your SBA Economic Injury Disaster Loan ( discussed below ) in to., just wondering if we in which i mean the gig community can or actually can be accepted get... 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