We did a write up on how to take advantage of these. BUT YOU NEED TO SUBMIT ASAP. They go live April 3.https://docs.google.com/document/d/1ObLE34kHokltvxKMD-PlNrQkF69zLvDD55eouABeGR4/edit?usp=sharing …
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NEED TO ACT ASAP: There are two key SBA small-business relief programs. 1) Paycheck Protection Program (up to $10m loan. forgivable if you meet milestones) 2) Economic Injury (you get $10k advance within 3 days of applying for up to $2m in Economic Injury Disaster Loan (EIDL))pic.twitter.com/SLGJvEbReb
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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A lot of talk going around that these are $10k grants. From everything I’ve read, there are no grants being given all funds are loans with expectation of repayment at 3.75% for for profit businesses. Someone correct me if I’m wrong here.
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My understanding is that you’re correct in how they’re designed, but that if you meet criteria 8 weeks from now (such as not laying off employees) then the loans are “forgiven” (you don’t have to repay)
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