Grant Vs Loan – EIDL UPDATE + What's the Difference Between the Grant and the Loan
Grant Vs Loan – Whats The Best?
What’s the difference between the grant and the loan?
What Is the $10,000 SBA Grant?
The CARES Act provided for a $10,000 Grant within three days of applying for EIDL.
The purpose of the Grant is to provide emergency working capital to small businesses during the COVID-19 pandemic.
The Economic Injury Disaster Loan advances are grants that do not have to be repaid.
If you received the Grant you do not have to accept the EIDL loan even if it is approved.
SBA announced is no longer making EIDL advances because the program used all the $20 billion authorized by Congress.
Resources for your Credit Score:
Rebuilding Credit After Bankruptcy:
💥 We are Commercial Financing Brokers. We help you get cashflow into your business so you can run your business. Let your account receivable work for you so you can work on your business.
Financing Solutions to Build Your Business.
We started Aurora Consulting inspired by a conversation over dinner with our new neighbors. He went to the bank, they spent considerable time (and his money) processing the loan application. He needed $500,000. After months of processing the bank approved $50,000
He said, “I think you left off a zero.”
We review all financial statements, business plans, marketing plans and any other pertinent items in the early days of working with a new client.
We do this to anticipate and resolve problems a Bank or Lender may have in the future.
When you apply directly to a Bank/Lender for commercial financing, these items, credit reports, financial statements and the like, are not reviewed until the late stage of the loan application process.
By then the applicant has spent time collecting and submitting documents and spent money on application fees, appraisal fees and other associated costs.
Literally most Banks/Lenders do not run a credit report until the very final stage of the application process, weeks or months after the initial application.
At that point, if a credit issue arises on the credit report, all those weeks and months of work are quite literally flushed down the toilet and the loan is declined.
Our role as your financing Broker is to review all relevant documents, including a credit report, in the early stages of your request, before the application, before we’ve even considered conversing with a Bank/Lender.
📌 Our Financing Services & Products:
🙋♀️Linda Rey’s & 🙋♂️Trevor’s channels:
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