The Economic Injury Disaster Loan (EIDL)

The Economic Injury Disaster Loan (EIDL) The CARES Act includes a $10,000 advance (the Emergency Economic Injury Grant) within three days of applying for an EIDL. To access the advance, you must first apply for an EIDL and then request the advance.   The advance does not need to be repaid. See page 28 of the CARES Act. What is an EIDL Grant? The CARES Act appropriates $10 billion for emergency EIDL Grants.  While a business’s application for an EIDL Loan is pending, the applicant may apply for a grant of up to $10,000 (EIDL Grant), which shall be paid within three 

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