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.