Second Stimulus Package Eidl Grant

This will no longer apply.

Second stimulus package eidl grant. A first grant can be up to 10 million and a second grant could be up to 50 of the first grant. Congress has allocated another 20 000 000 000 in eidl grants advances in the new stimulus bill. By way of background the cares act that was passed march 27 2020 included a grant or advance for those who applied for an eidl loan in the amount of up to 10 000.

Eidl program has been updated to be stricter and targetted. If you already received ppp loan forgiveness and you deducted an eidl grant from your loan forgiveness amount the new bill contains language requiring the sba to issue rules that ensure borrowers are made whole. In other words if you got a 10k eidl grant advance in 2020 you had to subtract that amount from your ppp loan forgiveness amount.

We expect the 2021 eidl grants to be similar to the 2020 eidl advances so let s take a look at what s carrying over and what s changing. 2nd round eidl grant stimulus update 12 26 2020. What the stimulus package says about 2021 eidl loans grants.

2 second priority to covered entities that have not received emergency grants under section 1110 e of the cares act 15 u s c. Eidl grants are safe. 20 bil page 2184 mention of the free 1 000 to 10 000 eidl grant but with changes page 2191 no more than 25 employees suffered an economic loss of not less than 30 percent unless you re an agricultural enterprise.

In the new 900 billion stimulus package that was signed into law on december 27th 2020 there is new eidl grant funding available. The 900 billion covid relief law lets some in less wealthy areas get a second eidl grant. 9009 e as of the date on which the administrator receives such.

Whether you already received an eidl grant you were rejected for an eidl grant or you received part of the eidl grant you may be able to get the full 10 000 eidl grant. Small businesses can t draw a second economic injury disaster loan. Located in a low income community irs code 45d e 1986 code 10.