Do I need to pay it back and when do I get my money a loan versus a grant? The $10,000 emergency grant does not need to be paid back. Your EIDL loan once approved does need to be paid back. Upon successful approval of your EIDL loan, the terms will be outlined to you by the SBA. The longterm can be up to 30 years with an interest rate of 3.7% to 4% the important question is, when will I get my money? The $10,000 emergency grant funds are available following a successful application. The SBA is a directed to disperse the funds within 72 hours of receiving your application. The EIDL loan, because underwriting standards apply take a little bit longer. The expected time for processing your EIDL loan at this time is 21 days, and disbursements of funds are usually five days after approval. This time may be lengthened due to the high volume that they currently have.
Donna Bordeaux, CPA with PYOPAccounting.com.
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA as demonstrated by Donna Bordeaux and PYOP Accounting.com. Donna and her husband, Chad, who is also a CPA, have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help PYOP studios earn 4 times more profit than the average PYOP and are passionate about helping industries that help families build great memories.
