Read the other recent EIDL grant and loan news. Track your EIDL Loan Increase based on self-reported information. Step 2: Further SBA EIDL Loan Increase Info We will be adding more information as it becomes available.
If the financial statements are not audited, the Applicant must sign and date the first page of the financial statement and initial all other pages, attesting to their accuracy. Quarterly financial statements for the entity.Treasury borrower guidance for Second Draw loans, the following are the primary sets of documentation that can be provided to substantiate your certification of a 25 percent gross receipts reduction (only one set is required): Quarterly “gross receipts” for one calendar quarter in 2020 and the “gross receipts” for the corresponding calendar quarter in 2019. Employer state and local taxes paid by the borrower and assessed on employee compensation (e.g., state unemployment insurance tax), excluding any taxes withheld from employee earnings.Borrowers are not to add employer retirement contributions made on behalf of self-employed individual or general partners, because such payments are already included in their compensation. Employer contributions to employee retirement plans, excluding any pre-tax or after-tax contributions by employees.Borrowers are not to add contributions for these benefits made on behalf of a self-employed individual, general partners, or owner-employees of an S-corporation, because such payments are already included in their compensation. Employer contributions for employee group health, life, disability, vision, or dental insurance, including the employer contributions to a self-insured, employer-sponsored group health plan, but excluding any pre-tax or after-tax contributions by employees.Independent contractor or sole proprietors only: wages, commissions, income, or net earnings from self-employment, or similar compensationĮmployee benefits, the total amount paid by the borrower for:.Payment for vacation, parental, family, medical, or sick leave (not covered by Families First Coronavirus Response Act).Cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips).Salary, wages, commissions, or similar compensation.
Expenditures made to facilitate compliance with federal, state or local guidance pertaining to sanitation, social distancing or any other worker or customer safety requirement related to COVID-19 during the period between March 1, 2020 and the end of the national emergency declaration.Payments made to suppliers of goods essential to the operations of the business under contracts in effect before the origination of the loan.Costs related to property damage and vandalism or looting due to public disturbances that occurred during 2020 that were not covered by insurance or other compensation.
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