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Webinar Supporting Children During the COVID-19 Pandemic with Dr. Dan Shapiro                             Dr. Dan Shapiro is a behavior pediatrician in private practice.

Economic Injury Disaster Loan (EIDL) Vs. Paycheck Protection Program Loan (PPPL)                               There is a lot of differing commentary on the PPPL legislation (part of the CARES Act) and how it calculates the eligible loan proceeds.  Commercial Banks are reading through and determining the applications based upon draft regulations on an individual lender basis.

The SBA is also putting out guidance and rules for an Economic Injury Disaster Loan (EIDL), which may fit into someone’s particular business situation. Below is a comparison between the PPP and EIDL programs that the SBA is currently offeing to businesses.

Keep a watch for what information your Commercial Bank is requesting and how they calculate the loan proceeds so you can include all costs that are allowed if you apply for one of these.

The situation and opinions are constantly changing based upon the interpretations.  As final regulations are issued by the SBA, additional guidance will become available.  But, that may take place after your application gets filed dependent on your timing if you decide to apply.

Please click here to see a comparison chart including terms for forgiveness or non-forgiveness..

Sun, October 25 2020 7 Cheshvan 5781