The COVID-19 pandemic has actually filled the whole world with unpredictability. Parents are homeschooling their children, numerous organisations have closed their doors or altered their operations, and employees have been laid off. If you’re a small company owner searching for financial relief, you might face another unpredictability: when you’ll in fact get your Small Business Administration( SBA) Economic Injury Disaster Loan and Emergency Advance. Many small company owners dealing with monetary difficulties have applied for the EIDL program. If you’re one of the thousands that have actually submitted their applications, congratulations– you’re one step closer to getting the relief your company requirements. However, similar to other SBA loans, the EIDL program isn’t exactly the fastest source of funding. The addition of the Emergency Advance through the Coronavirus Aid, Relief, and Economic Security (CARES) Act and expedited processing of loans has actually made it possible to get funds quicker than ever, but many company owner are still in the dark about when funding will come through.
If you’ve requested the EIDL and are waiting not-so-patiently for much-needed monetary relief, you’re in the best place. In this post, we’ll look at the ways you can examine the status of your loan, what you’ll need in order to check your status, and even ways to determine potential scams.
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