What are the SBA COVID-19 Eidl cap?
Key changes announced included: Increased COVID EIDL Cap. The SBA lifted the COVID EIDL cap from $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying off debt.
How is the CARES Act supporting small businesses?
The Paycheck Protection Program is providing small businesses with the resources they need to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead.
Who can apply for the COVID-19 Economic Injury Disaster Loan?
In response to COVID-19, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for the COVID-19 Economic Injury Disaster Loan (EIDL).
How should small businesses help prevent the spread of COVID-19?
Promote etiquette for coughing and sneezing and handwashing. Provide tissues, no-touch trash cans, soap and water, and hand sanitizer with at least 60% alcohol. Plan to implement practices to minimize face-to-face contact between employees if social distancing is recommended by your state or local health department.
How do I identify the COVID-19 Economic Impact Payment (EIP) card?
The EIP Card is a debit card sent by U.S. Mail in a white envelope with the U.S. Department of the Treasury seal and a return address from “Economic Impact Payment Card.”The card has the Visa name on the front and the issuing bank, MetaBank®, N.A., on the back. Information included with the EIP Card explains that this is your Economic Impact Payment. If you receive an EIP Card, visit EIPcard.com for more information.
Is there a second round of economic COVID-19 relief?
The $1.9 trillion coronavirus relief plan includes a third round of $1,400 stimulus payments, topping off the $600 checks that were already approved by Congress in December 2020, and adding up to $2,000.
How is the Economic Impact Payment (EIP) Card sent and how do I identify it?
Why is my COVID-19 Economic Impact Payment being mailed even though I set up a direct deposit?
Your payment may have been sent by mail because the bank rejected the deposit. This could happen because the bank information was invalid or the bank account has been closed.Note: You can’t change your bank information already on file with the IRS for your Economic Impact Payment. Don’t call the IRS, our phone assistors won’t be able to change your bank information, either.