Just last night history was once again made when the Senate passed the $484 billion Phase 3.5 stimulus package which is set to hit the House on Thursday with a possible Sunday-Tuesday roll out!
This is all part of the much bigger Cares Act which injected the previous $2.2 trillion into the economy through programs like the EIDL, PPP and personal stimulus checks that were all sent out.
Here is a breakdown of the $484 billion on Phase 3.5
- $310 billion additional authorized for PPP
- $60 billion additional approved for EIDL
- $60 billion for small, midsize community lenders
- $75 billion for hospitals
- $25 billion for Covid-19 testing
Inside the bill they have specifically stated that they are going to double the grant portion of the EIDL program, so if you missed out on this in the first round and do any sort of sidehustle then you can apply for this again once the site comes back online. The link should be the one it was before -> This ONE! Remember this is a first come first serve and yes you would be considered an employee so that is one employee, if anyone else is 1099’d or paid out in anyway from your business or side-hustle they are also employees- its $1k per employee up to $10,000 max in no-strings attached grant money.
You can read the full txt of the bill here
The $2,000 advance loan every month for American citizens will be talked about more and possibly added to the Phase 4 part of the stimulus package.
UPDATE: 4/23 Bill was passed by the house, that just leaves Trump signing it and putting it into action which WILL happen. Keep in mind they already have the portal and full infrastructure so it will go live at the flick of a button now, and with them putting double provisions into the Grant portion of the the EIDL, it will go much faster than last time- maybe couple of days max! Its first come, first serve so keep the link up and stay on top of this news, payouts are made within 3 days!
UPDATE: 4/24 Trump signed, keep an eye on this link if you haven’t already gotten your EIDL grant money –> HERE