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PPP vs SVOG vs EIDL: Do I Qualify for all of them?
Considering applying for different funds? Here’s an analysis of the requirements to meet when considering the different loans:
If you Received PPP
- PPP First Draw Loan borrowers may be eligible for PPP Second Draw Loan
- Applying for SVOG: May apply if received PPP Loan prior to applying for SVOG
- Applying for EIDL: May apply for EIDL, but funds cannot be used for the same purpose as PPP Loan
If you Received SVOG
- Supplemental SVOG award is available
- Applying for PPP: May not apply for PPP Loan after receiving SVOG
- Applying for EIDL: May apply for EIDL, but funds cannot be used for the same purpose as SVOG
If you Received EIDL
- No supplemental funds available
- Applying for PPP: May apply for PPP Loan, but funds cannot be used for the same purpose as EIDL
- Applying for SVOG: May apply for SVOG, but funds cannot be used for the same purpose as EIDL
If you want to walk through this together, schedule here:
Considering applying for different funds? PPP, SVOG, or EIDL?
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PPP vs SVOG vs EIDL: Do I Qualify for all of them?
PPP vs SVOG vs EIDL, Considering applying for different funds? Here’s an analysis of requirements to meet when considering different loans.
Paycheck Protection Program Application 2021
The Paycheck Protection Program (PPP) is a loan program under the Coronavirus aid, Relief, and Economic Security (CARES) Act aimed to provide relief to small businesses affected by the COVID-19 pandemic.