eidl loan assistance
Our team will help you apply for a loan to support your business in this new normal. We’ll also walk you through what you need to know about using this loan.
WHAT TO KNOW ABOUT THE EIDL LOAN
The Economic Injury Disaster Loan (EIDL) is based off of 2019 gross profit, meaning gross revenue less cost of goods sold.
For anyone who received the first loan, applying for the increase would give them an additional 3x the original amount they received.
For anyone who has not received the loan at all, they’re eligible to receive up to 2x the amount of their 2019 gross profit. This loan doesn’t have to be paid back until 24 months after the date of the first funded loan, with an interest rate of 3.75%.
You must have a decent credit score (or be showing credit improvement) in order to get approved.
The loan should go into a separate business account and used for operating expenses or to pay off old debt. It should NOT be used for expansion or paying yourself (as an owner). When you trust us to help you apply for your EIDL loan, you can rest easy knowing the following:
NO WASTED TIME
You have enough on your plate. Our team will take care of the loan application process and advise you on any steps we need you to take.
WE’ll HAVE YOUR BACK
From the time we apply for the loan until the money is received, and even afterwards, we’ll be there to field any questions you may have.
WE’LL HELP YOU MAXIMIZE IT
We’ve helped hundreds of business owners manage their EIDL loans, and we can certainly help you make the most out of yours by advising you on your options.