small-business-assistance

Image credit: U.S. Small Business Administration



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Comment by: blainek 09 Apr 2020, 08:59 a.m.

According to an article published by Inc.com, the U.S. SBA has announced that they are changing the EIDL loan amount to include a cap per employee. Previously, the loan amount was $10,000. Now according to the new rules, small businesses would only receive $1,000 per employee. So a company with six employees would only be eligible to receive $6,000 as opposed to the original $10,000.

Link: https://www.inc.com/kevin-j-ryan/small-business-loans-eidl-advance-limitations.html