The SBA Emergency Grants are hitting the bank accounts of businesses that filled out the initial short application a few weeks ago. To get them, a business apparently did not have to have completed the longer EIDL or PPP applications with a bank or the SBA.
If you filled out the first, brief application online, check your bank account over the next few days.
The deposit amounts appear to be $1,000 per employee, based on an early January 2020 employee head count. They are being deposited with no advance notice into bank accounts. The deposit shows this description:
MISC PAY SBAD TREAS 310 Your Business Name ACH CREDIT
If you got the funding, spend it to rehire your employees during the next 8 weeks, so the amount will be forgivable.
If you filled out the first, brief application online, check your bank account over the next few days.
The deposit amounts appear to be $1,000 per employee, based on an early January 2020 employee head count. They are being deposited with no advance notice into bank accounts. The deposit shows this description:
MISC PAY SBAD TREAS 310 Your Business Name ACH CREDIT
If you got the funding, spend it to rehire your employees during the next 8 weeks, so the amount will be forgivable.
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