Here's a quick weekend recap based on our YouTube video from today. This includes important stimulus package, EIDL, PPP, and state grants information. Be sure to subscribe to our YouTube channel for immediate updates.
$1.9 Trillion Stimulus Package Faces Opposition
Biden's $1.9 trillion proposal for a third-stimulus package faces options from both Republicans and economists. Some see this as not targeted enough and too much money to print. Economists see an inflation risk as well. Despite this, we do expect there will be a third stimulus check, for $1,400, as well as funding for state and local governments.
Additional Grants from Cities and States
Speaking of an additional stimulus package, we expect that if a third stimulus package gets passed it will certainly include the funding for state and local governments. And that means there will be more grant and aid programs available for small businesses. We have a list of early state grant programs and we'll continue to monitor these on a daily basis. If you want early access, click here.
EIDL Grants Distribution Tracker
While we don't expect the SBA to start sending our new EIDL grants until February, Skip users are collectively eligible for $125 million of the $40 billion available. This is a new feature that will be on our app very soon. You can also see how much you're eligible for based on 1) your location 2) your number of employees and 3) if you've received any EIDL funding to date. Go to TrackEIDLGrant.com to track distribution on the app.
PPP Loan Application and Progress Updates
Hundreds of thousands of businesses were approved for PPP loans last week and we expect the same volume this coming week. If you haven't applied yet you can at TrackPPPLoan.com.