Landlords are Eligible for Financial Relief from SBA

Part of Zuby‘s mission to empower DIY landlords means ensuring that our users are always informed of important developments impacting their rental businesses.

On March 27th, President Trump signed into law the CARES act, a $2 trillion emergency funding bill designed to aid American citizens and businesses impacted by COVID-19.

As part of the bill, the Small Business Administration (SBA) will receive $377 billion to help small businesses impacted by the virus, and the SBA is moving very quickly to make funds available through the Economic Injury Disaster Loans program, or EIDL.

As a small scale landlord, you are a small business and therefore qualify for financial relief, including up to a $10k forgivable advance that is payable within three days.

In this article, we summarize the details of EIDL and what it means for our landlords.

Important Update

Since the original publishing of this article, the SBA issued a new guideline stating that due to the large number of requests, the amount of EIDL loan advance will be determined by the number of your pre-disaster employees (as of January 31, 2020).

According to the newly issued guideline, the forgivable advance will be calculated using $1,000 per…