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Thrivetime Show | Business School without the BS

How to Claim Your Economic Injury Disaster Loan (EIDL)-COVID-19 Related Assistance

Thrivetime Show | Business School without the BS

Clay Clark

Business, Entrepreneurship

4.71.5K Ratings

🗓️ 23 April 2020

⏱️ 7 minutes

🧾️ Download transcript

Summary

Unpacking the process for claiming your Economic Injury Disaster Loan (EIDL)-COVID-19 Related Assistance funding.

Transcript

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0:00.0

You have questions America's number one business coach has answers.

0:05.0

It's your Broda from Minnesota.

0:07.0

Here's another edition of Ask Clay Anything on the Thrive Time Business Coach Radio Show.

0:13.0

Yes, yes, and yes, how do you claim your economic entry disaster loan? That's what we're talking about.

0:26.2

This Josh. Josh, what up man? This is Clay.

0:30.9

How are you in the world are you doing? I am doing great. I'm doing great here.

0:34.0

I'm here with the Master Machine folks and I told them that you and your company,

0:39.0

DaVinche IT consulting, that you guys received the funding for the economic injury program there through the

0:47.4

small business administration. So I thought, could you tell us, did you actually

0:52.0

receive funding from that or how did that work?

0:55.0

So we have submitted each of our companies that had an EIN and at least some sort of employee we submitted each of those entities to the EIDL and yesterday

1:09.5

all but two received $1,000 in that account.

1:16.2

$1,000, is it per employee or was it just 1,000 total

1:19.6

or what?

1:20.3

It looks like it's, well, from my reading of it, it looks like it's $1,000 per employee, but there hasn't been a lot of communication from that, from the EIDL and so unexpectedly received a thousand dollars in each of those accounts.

1:37.0

Okay, and how did you apply, what was your process for applying? So we submitted the form.

1:45.0

It's relatively painless form took about two minutes to apply.

1:51.0

It's asked for your bank account information,

1:53.2

it asks for your revenue for last year,

1:56.8

and then there's a checkbox to apply for the rapid access.

2:00.6

And we applied for any entity that had an EIN and a bank account and had some sort of at least one employee we went and had applied.

2:11.9

So you're saying for any company that you had that

...

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