Then most likely, you’re in check until more funds are appropriated. I applied long form EIDL 3/17, and again, short form 3/30, my EIDL as of yesterday was “in process”. My PPP was submitted at 0900 4/10, as in one of the very first to be submitted when they “allowed” it. Chase, kinda said **** you, your small business is too small. I’m still crossing fingers on the EIDL as it was “supposedly” “in process”, if so I get to borrow $25K over 30 years? Already with the PPP which was SUPPOSED to be for payroll, there are owners that said **** IT, IVE GOT A 1% loan over two years, to do whatever I want. I think I’ll have a GRAND reopening. From my research, MOST of the PPP loans that were funded were $350k and above, leaving out “small” businesses. Due to the language of the CARES act, Ruth’s Chris acquired $20 Million, with 5000 employees, “small” business being 500 employees. It was nothing more than a free money grab for the BIG “small” businesses. And the big banks that accommodate them.
