Bill S.4227 would ensure that all eligible EIDL applicants would receive the full $10,000 as originally intended. In addition, the EIDL loan maximum amount would also be $2 million again, instead of the $150,000 limit.
As of August 1, this bill has 6 co-sponsors from Senators but we need more to keep this going. Use the form below and we'll message your state's senators on your behalf!
Why is This Extra SBA EIDL Funding So Important?
The latest $1 trillion stimulus discussions in Congress are stalled. While negotiations on unemployment, stimulus checks, and small business relief continues, it's important that this bill also get more traction and support.
The CARES Act originally specificed that every eligible business should get $10,000, however the SBA changes the rules a few weeks in to make it so businesses would only receive $1,000 per employee in Advance (grant).
If this bill passes, if you received less than $10,000, it appears you will be eligible to get "topped-up" to the full $10,000 grant.