Attorney Explains | Did the SBA Ignore Section 332? (EIDL Grant Update 1/21/21)

Did the SBA just violate the law?  Did it ignore Section 332 of the new stimulus act?  Find out my thoughts in this video.

DISCLAIMER: please note that the information contained in this video is for educational and entertainment purposes only. You should always consult your own attorney and your own financial and tax advisors before making any legal or financial decisions. This video is not intended to and does not create any attorney-client relationship between the content creator and the viewer. The views and opinions expressed in this video belong solely to the creator and do not reflect those of his law firm or any of his business partners.

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The SBA published instructions on its website referring to the targeted EIDL advance for businesses located in low income communities which have suffered a 30% or more drop in revenue.  But, it has so far made no reference to the "emergency grants" which Congress made available under Section 332 of the new stimulus act.  

If this indicates that the SBA believes that the only program that the stimulus act authorized is the low income targeted grants program unders Section 331, it is, in my opinion, completely misreading the language of the stimulus act.  On the other hand, if this is just the SBA's first step in effectuating the intent of Congress, then there is no violation (other than the fact that it is behind the timeline referenced in the law).  We will have to wait and see.  

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Видео Attorney Explains | Did the SBA Ignore Section 332? (EIDL Grant Update 1/21/21) канала Succeed REI