CARES Act Paycheck Protection Program vs. SBA’s Economic Injury Disaster Loans
The President signed the CARES Act last week introducing a new small business relief program called the Paycheck Protection Program. It reserves nearly $350 billion to provide a direct incentive for small businesses to keep their workers on the payroll throughout the COVID-19 pandemic.
You may have already heard of the Small Business Association’s Economic Injury Disaster Loan – EIDL. The EIDL provides assistance in the form of low-interest loans to businesses, renters, and homeowners located in regions affected by declared disasters.
Below is a downloadable link to a summary I put together of the two loan programs:
To find more information on the Paycheck Protection Program, click the following link:
To find more information on the EIDL, click the following link: