Considering Applying for PPP & EIDL? Time Is Running Out! If you have not applied for PPP or EIDL funding this is your opportunity to understand each program and what you need in order to apply.
The Paycheck Protection Program has an application deadline of August 8 for new loans. While there are bills in Congress to potentially extend it, it is uncertain at the moment whether that will happen or not and if you qualify, you may want to take action sooner rather than later.
The Economic Injury Disaster loan program is open through December 31 for applications, however, funds may run out. The EIDL Advance was exhausted, but the loan is flexible in its uses and has a longer repayment term, which may assist you with the working capital to support your business in this changing environment.