EIDL/PPP SBA Loan Changes
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EIDL/PPP SBA Loan Changes (by Ray-N-Pa [PA]) Apr 11, 2021 6:49 PM

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EIDL/PPP SBA Loan Changes (by Ray-N-Pa [PA]) Posted on: Apr 11, 2021 6:49 PM
Message:

For those of you who filed for either the PPP or the Economic Injury Disaster Loans, the SBA has changed the rules in your favor.

In the case of the PPP loan, you will find it easier to get your loan forgiven as they included a higher percentage of expenses. I had a $22,300 loan based on my small payroll. I was able to find more than $70,000 items that could be written off. Sorta makes me go back in time and request a larger loan, but that isn't possible.

In the case of EIDL, you may be able to additional money if you took the initial cash advance. There are three things criteria but that initial $1,000 can grow up to $10,000. Those items include have less than 300 employees, be located in a lower income community and suffer a 30% or greater loss.

If you applied for either one of these programs, expect to get notified of these changes

--24.154.xx.x



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