Forgiva
The U.S. Small Business Administration is offering Economic Injury Disaster Loans (EIDL) worth up to $2 million. The goal is to support small businesses in overcoming temporary loss of revenue.
- Forgivable Loan Definition
- Forgivable Small Business Loans
- Forgivable Ppp Loan
- Forgivable
- Forgivable Down Payment Assistance
- Forgivable Loan Program
Keep in mind the loans, cash advances, and grants are only available as federal appropriations are made. Once the funding runs out, applications will no longer be accepted. Since multiple bills have passed already, the situation is extremely fluid, with more money likely to be doled out in the future.
FOrGIVA (2021) Salt Bed (2021) Hijitos Diablitos (2020) Digi Demon Liturgy. Uttering code from an unholy.pdf, the malware word, the Dieble. Five anons join the chat, hosted on candle-connection server. Typing in tongues, the Devil-oper etches out a room with no corners. Weaved of sin wave, a cloak appears, with the eyes of crashing programs. Words you will hear today: Ska ba forgiva, ska ba fa chance. 17 October 2017 7:59 AM. Tags: Word of the year white monopoly capital #StateCapture.
Economic Injury Disaster Loans
What It Is: EIDLs provide working capital to meet necessary financial obligations during the disaster period.
How Much Can You Get?: You can take out up to $2 million in disaster assistance.
What Can You Use It For?: EIDLs can be used for essentially any business purpose – payroll, benefits, buying materials, rent, utility payments, and vendor payments. The funds should not be used for expansions, employee bonuses, long-term debt refinancing, or physical property repairs and renovations.
Do You Need To Repay It?: Yes, you will need to repay the EIDL, though you may also qualify to receive $10,000 in grant money while you wait for your loan, which you do not have to repay.
What Is The Term?: Terms last up to 30 years, depending on your ability to repay the loan.
What Is The Interest Rate?: Small businesses are subject to a 3.75% interest rate, while nonprofits receive a 2.75% interest rate.
Economic Injury Disaster Advance Grants
What It Is: Small businesses can receive a cash advance within days of a successful application.
How Much Can You Get?: You can receive up to $10,000 in emergency assistance.
What Can You Use It For?: The funds are meant to recover loss of revenue due to the economic pause.
Do You Need To Repay It?: No! This loan advance does not need to be repaid.
What Is the Term?: There is no term. It’s free money if you are approved!
What Is The Interest Rate?: There is no interest. The $10,000 is yours to keep.
Where to Apply: Apply for the Economic Injury Disaster advance here.
Unable to Get An SBA Disaster Relief Loan?
Getting an SBA disaster relief grant or loan is a great opportunity for small businesses, but it’s not the only option. There are also Paycheck Protection Program loans offering 2.5x monthly payroll expenses, capped at $10 million, that can be completely forgiven as long as employers use the money to keep their workers on the payroll for at least eight weeks. Yet, as you may expect, these funds, available through the U.S. Department of Treasury, are even more in short supply.
The good news is that you may be able to tap into your own savings short-term, thanks to a provision in the CARES Act that lets you borrow up to 100% of your 401(k) savings. Usually, you are only able to borrow 50%, so this is a good opportunity if you cannot access funds by any other means. You will be able to put the money back in, with no cap on the annual amount added, over the next five years.
The repayment term can be delayed for up to a year. If you can’t repay the loan, your outstanding balance will be taxed like a withdrawal, and you’ll need to pay a 10% early withdrawal penalty, so you want to make sure you don’t take out more than you can handle over a five-year period.
Contact Ubiquity if you have questions about a 401(k) loan, setting up a new 401(k) program, or keeping your retirement on-track during the coronavirus crisis.
On Monday, the Pan South African Language Board (PanSALB) announced its South African Word of The Year which is #StateCapture.
READ: South African word of 2017 is #StateCapture
Talk radio producer Jonathan Fairbairn and the Breakfast Show team added a few more memorable words that have trended over the year.
State Capture, Blesser and White Monopoly Capital were the three biggest words used according to the Pan South African Language Board.
Jonathan Fairbairn, 702 producerOther popular words thought of by the Breakfast team include:
- Radical Economic Transformation
- NDZ
- Cofvefe
- Ska ba forgiva
- Ska ba fa chance
- Woke
- Tholukuthi hey
Click here and have a giggle....
More from Lifestyle
'Having a car loan works against you when applying for a home loan'
Considering a car loan? You may want to think again. Africa Melane interviews financial planner Gerald Mwandiambira.
Read More arrow_forwardShow your liver some love this World Liver Day!
This #WorldLiverDay, celebrated annually on 19 April, Essentiale® Extreme wants you to show your liver some love!
Read MoreForgivable Loan Definition
arrow_forwardWe carry marks of failure instead of showing our excellence - Karyn Maughan
The legal journalist was starstruck during an interview with internationally acclaimed South African comedian Trevor Noah.
Read More arrow_forwardGive your child the best education you can afford – here’s how to invest
Personal finance advisor Warren Ingram on how to save and invest for your child’s future education.
Read More arrow_forward'Seven in ten South Africans spend all their income or more every single month'
The latest Deloitte consumer survey shows we are more worried about our finances than Covid, says Mike Vincent (senior partner).
Read More arrow_forwardSavanna plays on SA's 'buddy' bar culture to tackle the #MyFriendZone
'We don't need a name to be friends.' Savanna's use of humour is not just advertising, it's entertainment says Andy Rice.
Read More arrow_forwardAbout 60%-80% of men with diabetes will have erectile dysfunction - Expert
Urologist Dr Shingai Mutambirwa says If you have erectile dysfunction consistently for three months, that is a serious problem.
Read More arrow_forwardForgivable Small Business Loans
Why Paarl-based Cape Brewing Company brews its pale ale in Sweden
Bruce Whitfield picked up a can of CBC pale ale and was shocked to see it is brewed in Sweden. He phoned the company to learn why.
Read MoreForgivable Ppp Loan
arrow_forward'I had to pinch myself, I had so much money! It was ridiculous!'
Springbok Legend-of-Legends Tendai 'Beast' Mtawarira opens up about his money and his beliefs about it.
Read More arrow_forwardForgivable
How to think like a billionaire - it's how you too can be wealthy
Bruce Whitfield interviews Daniel Strauss, author of The Billionaire Mindset: Secrets of a Successful South African Entrepreneur.
Read MoreForgivable Down Payment Assistance
arrow_forwardForgivable Loan Program