UPDATE ON EIDL

It has come to our attention that the SBA is limiting the forgivable advance of the EIDL to just $1000 per employee.  From an email from the SBA to applicants:

To ensure that the greatest number of applicants can receive assistance during this challenging time, the amount of your Advance will be determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The Advance will provide $1,000 per employee up to a maximum of $10,000.

We do not have any official posted guidance from the SBA, but clients that applied for and received the EIDL are confirming with us that they are only receiving $1000 per employee, and not the full $10,000 as we originally thought.

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Please note that we will only post things that are from official sources and have been passed into law. We will not post any information about pending legislation.