How do I qualify for the new emergency EIDL grant?
To qualify for the full emergency $10,000 EIDL grant, a business must:
• Be located in a low-income community, and
• Have suffered an economic loss greater than 30%, and
• Employ not more than 300 employees
In addition, the business must qualify as an eligible entity as defined in the CARES Act:
• A small business, cooperative, ESOP Tribal concern, with fewer than 500 employees*
• An individual who operates under as a sole proprietorship, with or without employees, or as an independent contractor; or
• A private non-profit or small agricultural cooperative.
• The business must have been in operation by January 31, 2020
• The business must be directly affected by COVID-19