What is it?
The EIDL is an emergency advance of up to $10,000 or $1,000 per employee in your business prior to January 31, 2020. You will not have to pay back the advance. This could be helpful to get through the next few months until we’re on the other side of this pandemic.
What can I spend the money on?
The criteria is broad. You can use the money for payroll, rent and mortgages, or other operational costs.
What can i not use the money on?
You can’t use the advance to refinance debt or pay dividends. The goal is to help get you through the next few months until we can return to work.