The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, allocates $349
billion to help small businesses keep workers employed amid the current circumstances they are encountering. The CARES Act provides funding for the Paycheck Protection Program, modifies the existing Emergency Injury Disaster Loan (EIDL) program and provides immediate loan payment relief for current SBA 7(a) borrowers.
This document outlines the differences between EIDL and PPP loans.
Following is a recording of a live webinar held on April 3rd, 2020 outlining the EIDL and PPP programs. In this video we cover the major components of the Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) loans. It also explains the basics of the process to apply for each and what each program is designed to provide.
If you have any questions or wish to discuss your specific situation please consider meeting with an SBDC coach.
Please feel free to contact our team at mec20175@gmu.edu or by calling (703)466-0466
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