The Small Business Administration has reopened this grant program by first targeting businesses who received a partial grant last year.
Please remember that the EIDL Grant started as a $10,000 grant, and was later changed to $1,000 per employee because they were running out of money. If you received less than the $10,000 grant, you are now eligible to receive the difference. You may also be eligible if you applied last year and didn’t receive the grant because of a lack of funding in the program.
In order to be eligible, you must be located in a low income community and must have experienced a 30% reduction in income over an eight week period after March 2, 2020 as compared to the same period in 2019. Also you must have been in business prior to January 31, 2020 and have less than 300 employees.
The question we all have is how to apply. A formal application process is yet to begin. The SBA is supposedly reaching out to all of the EIDL Grant recipients and applicants who were shorted last year to provide the grant. They are promising that a formal application process will begin soon. Please go to the SBA website for further information.
Let me leave you with this.
Getting to work yesterday was a real joy. The snow had drifted up to two feet on my driveway. The second I opened the garage door, I knew I was going to get stuck. Sure enough, I did. It took half an hour to get out onto the street, but the fun was just beginning.
I only live seven blocks from my office. Once I got here there was no place to park. I drove around and couldn’t find anything. Finally I made a deal with the guy who owns that mechanic’s shop on the corner to put my car on his lot until my guys could come and dig me out.
It was important for me to get to the office because all of my people were working remotely. I had to be able to feed them work. Ultimately we had a decent day.
This was probably the worst Fat Tuesday on record. All of my usual haunts were closed. Heaven on Seven was only doing carry out. I found one place in Wicker park that supposedly had a band, but when I called they said they were doing it remotely.
What kind of a party is that?
At least this bad weather is supposed to be gone by next week. Maybe some of this snow will melt.
We’re all going to get through this. Let’s get through it together.
Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. If there is anything you need, whether you are a current client or not, you have but to ask. I’m here and I remain,
Accounting Solutions Ltd.
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