As with any new legislation or program, small businesses are trying to understand their options within the new CARES Act. As we await further guidance from the Small Business Administration (SBA) on the full guidelines and details, we’ve put together a chart to outline some of the key differences between the Economic Injury Disaster Loans (EIDL) and the Paycheck Protection Program (PPP).

Download the chart here. (chart updated 4.2.2020)

Another resource for required SBA PPP documentation can be found from the U.S Treasury Department.

When more updates become available, they will be shared at our COVID-19 Resource Center.

If your organization needs support, Elliott Davis can assist you in preparing, gathering, and facilitating the information required to populate your loan application. We have a team of experts with the practical experience and expertise necessary to help keep your business moving forward. Contact a member of the Elliott Davis team or fill out the form below.

The information provided in this communication is of a general nature and should not be considered professional advice.  You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.