Last updated on 4/7/2020
The EIDL and PPP loans are both designed to provide relief to businesses impacted by COVID-19. Each loan, however, has similar and different components regarding eligibility, loan amount, use of funds, terms, and other factors. Moreover, businesses may be eligible for both loans (provided they do not use the proceeds for the same purpose). P&N has compiled a table to help you compare these loans side-by-side and determine which may suit your business needs. Please keep in mind that due to the quickly-changing nature of relief efforts and guidance, you should always discuss significant decisions with your CPA.