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Targeted EIDL Advance Economic Loss Calculator Tool

To qualify for the Targeted EIDL Advance grants under the latest stimulus package (passed December 27, 2020) youneed to show a 30% economic loss for an 8 consecutive week period relative to the previous year.

This tool will help you identify if you have an eight week period that meets this 30% economic loss test. Follow these steps:

  • Enter your weekly income for the weeks listed for 2020 and for 2019
  • Check the box under “Important” at the end of the form to verify you've entered everything correctly.
  • Check out the results at the bottom.

Please seek out a professional for advice related to your own business situation.

Understand that I am not a tax or financial professional, nor am I affiliated with any US government entity.

Nothing about this tool is official in any way shape or form. This is only a tool, created based on my understanding of how the qualification works for the targeted EIDL advance grants.

This is not intended to be any form of professional or business advice. It is meant to be a quick tool to help you identify if there are periods that may qualify as a 30% or greater economic loss which may qualify you for the targeted EIDL advance grants.

This information may help you identify the eight week periods that may qualify. You should then double check the math on your own for those same periods using your own records or bookkeeping.

EIDL Income Qualifier

Targeted EIDL Advance Economic Loss Qualification Tool

This tool is designed to help identify whether you qualify for the 30% Economic Loss test for the targeted EIDL advance/grant. The focus is especially on independent contractors with gig economy apps such as Doorash, Instacart, Uber Eats, Grubhub, Lyft, Postmates and others.

By using this tool, you verify that you understand and agree to the following: This is simply a tool intended to help you get an idea if you meet one qualification of the targeted EIDL advance or grant. The tool is based on my understanding of how the legislation sets out qualifications. You understand that there are no guarantees as to the accuracy and that results of this tool do not guarantee that you do or do not qualify for funding. You also understand that neither this website nor its author is related in any way to the SBA, IRS, Department of Treasury or any other government entity.

Click here more information on the economic loss requirements for the targeted EIDL advance.

Enter your weekly gross income for the following periods for both 2019 and 2020

Weekly Gross Income 2019

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Weekly Gross Income 2020

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Important

Verify that you have entered all of your information

Weekly Economic Loss Percentage Results

You will see the percent of economic loss for each eight week period. This is how much lower your earnings were for the eight week period in 2020 compared to the corresponding calendar week of 2019.

Negative percentages indicate that you earned more for that period in 2020 than you did in 2019. “Infinity” in the percentage field indicates that you had no earnings in the eight week period in 2019. Any eight week period in 2020 where earnings were higher than they were for 2019 does not meet the 30% economic loss test.

If any eight week period does meet the 30% economic loss test for targeted EIDL advances, you will see a green Meets 30% Test notation.

Based on my understanding of the legislation and available information, any one week that passes the 30% economic loss test is enough to qualify as an economic loss for this program. This is NOT the only criteria for the targeted EIDL advance.

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