EIDL Grants Explained - FREE $10,000 Stimulus Checks (EIDL Update)

EIDL grants of up to $10,000 are BACK and better than ever… for some. I will show you how to get up to $10,000 in FREE money for the EIDL grant program authorized by the most recent stimulus bill.

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The EIDL is like a second stimulus check that you can get that is bigger than the $600 stimulus check (or the $2,000 stimulus check for that matter).

The EIDL program was created in the CARES Act and helps self employed individuals and those with side hustles get an extra $10,000 stimulus check or sorts to cover business costs such as payroll and capital expenditures.

The EIDL grant is completely free and you do NOT need to take the EIDL loan in order to get the $10,000 EIDL stimulus.

The EIDL grant program is a stimulus program where you can get up to $10,000 as a forgivable advance on your SBA loan. You do not need to take out the SBA loan to get the 10000 EIDL grant.

The EIDL grant program ran out of money during the CARES Act and is now replenished with over $20,000,000,000. To qualify for the $10,000 EIDL advance you must meet the following criteria:

1. Live in a low income community
2. Have seen a drop in revenue of at least 30% during the covered period as a result of the pandemic
3. Not employ more than 300 people

There are a few other quirks to the EIDL grant approval, but that is the basic outline of the $10,000 EIDL grant eligibility.

The term “low income community” has a legal definition. I talk about that in detail in this EIDL advance breakdown.

Also, if you have a side hustle, drive for Uber, are a photographer, sell things online, you probably qualify for an EIDL loan if you meet these above criteria.

There are a lot of details to the EIDL loan that we do not yet know and we are still waiting on the SBA EIDL loan portal to open. Things may change with the EIDL, so subscribe to stay informed.

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✅ My Favorite Book on Investing (Highly Recommend, Easy Read): https://amzn.to/2zKW16o

AFFILIATE DISCLOSURE: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and sign up. However, this does not impact my opinions and comparisons.

LEGAL DISCLAIMER: I am an attorney, but I am not your attorney. Seek professional legal help for your own situation. This video is for entertainment and educational purposes only.

#EIDL

Видео EIDL Grants Explained - FREE $10,000 Stimulus Checks (EIDL Update) канала Kevin Conway