PPP vs EIDL:
Understanding The Difference
If you're a business owner right now, we know chaos doesn't begin to describe what you're feeling. You've likely experienced disruptions in the way you do business, and even a decrease in business. If you're one of the millions of business owners across America who is in need of financial assistance during this pandemic, you've likely heard of two avenues of relief in the form of loans.
Which Loans Are Available To My Business?
Through the CARES Act, which was signed into law in early April, the Small Business Administration (SBA) is able to provide Paycheck Protection Program (PPP or PPP Loan) loans for business owners. In addition, the SBA has an existing loan program for businesses during periods of crisis, known as the Economic injury Disaster Loan (EIDL).
There is a lot of information being released right now and we want want to make sure that you have a solid grasp on the fundamentals of both loan programs, so we've compiled an easy-to-understand guide.
Fill out the form on your right to download the quick and easy overview guide of both the PPP and the EIDL.