![]() The EIDL Advance program was initially discontinued when it ran out of money but was given additional funds extended through Decemor until funds are exhausted by the Consolidated Appropriations Act, 2021. In practice, the EIDL grants ended up being $1,000 per employee for up to $10,000 in total. These grants were for all qualified applicants, whether they were approved for the loan or not. The advance didn’t and still doesn’t have to be repaid. Separate EIDL Advance grants were intended to give small businesses applying for this loan up to $10,000 upfront. The Economic Injury Disaster Loan (EIDL) offered small businesses an opportunity for financial relief from losses caused by the COVID-19 pandemic. Some of these benefits were modified or extended by the Consolidated Appropriations Act, 2021. The CARES Act was signed into law on March 27, 2020. Coronavirus Aid, Relief and Economic Security (CARES) Act Employers who are eligible for a payroll credit that is greater than their total payroll tax liability can apply for an advance credit using Form 7200. ![]() One thing businesses can’t include is the employer's share of Social Security taxes.
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