TACOMA, Wash., May 21, 2021 /PRNewswire/ — RGD Gaming LLC (https://rgdgaming.com/) announced it would begin distributing music CDs to shed a light on the current EIDL gridlock in Congress. Like many small businesses affected by the Covid-19 pandemic, RGD Gaming is still waiting on promised emergency funding from the SBA EIDL program, namely a $10,000 grant. Originally the Emergency EIDL advance, this program was advertised as a quick way for businesses to get cash to weather the pandemic, unfortunately, the program has since earned a sullied reputation when it was quickly limited to 1k per employee. The latest bill, S 513, languishing in Congress, could ensure businesses finally get their full grants by removing key low income area provisions. Low income area provisions were originally intended to help minority areas after December, when Congress shifted the EIDL advance to the Targeted EIDL advance; however, it has since been criticized as a barrier to business capital. The satirical country song addresses the issue and is now available for preorder. CDs may be sent directly to three key politicians: Senator Rosen, Senator Cardin or Senator Schumer. Schumer Where’s My EIDL may also be listened to on YouTube.
“First, 50 CDs to the Senate and House business committees, 3 CDs to the SBE Council, 1 CD to Isabel Guzman and 10 CDs to Allen Ellison, currently running for senate in Florida, whom I had the privilege of interviewing said Robert Dunham, RGD Gaming founder. “Though I do not expect much in answer, it is a protest I feel I have to make for the lack of help we have seen through Congress. For a year businesses have been calling, faxing, emailing and more to vent their frustrations.” Attached to CD packages is a list of suggestions to alleviate key burdens for the SBA, for instance, increased awareness of 4506 T backlogs, highlight technical glitches in grant delivery systems, and legislation, such as S 513, to alleviate the 3 year backlog. Business owners are frustrated with low income area provisions as congress is effectively picking which side of the street benefits from direly needed grants. Covid did not make a choice to impact low income areas only, we were all impacted. Overall, this song is satire – however, it puts into perspective a year’s worth of administration woes. It needs federal attention right now. We ask other small businesses to come together with us in support. Please help us and other businesses by calling, emailing, or faxing one of Senator Schumer’s offices.”
EIDL for Small Businesses Act
Managed by the SBA, federal EIDL loans are broad-ranging and help a wide variety of businesses and organizations. Some important details on these EIDL loans include:
- Low Interest Rates: The interest rate is around 3.75% APR for most borrowers, and even lower for non-profits: 2.75%. The maximum loan amounts have recently been increased to $500,000, but this bill would put it back to its $2,000,000 statute.
- Long Payback Times: EIDL loans offer an incredibly long payback period: up to 30 years. A recent increase of the 12-month deferral to a 24-month deferral is also available for interest and principal payments.
- Available to Non-Profits: The EIDL offers assistance for non-profit organizations, including chambers of commerce, business leagues, boards of trade, real estate boards, and other professional leagues. PPP loans were not accessible by 501 (c)(6) entities, and many organizations are also in dire need of assistance.
- Burden of Proof: Each business/organization must prove they were unable to meet operating expenses during the disaster in question (i.e. the Covid-19 pandemic). For retail businesses who suffered unprecedented losses in sales over the last year and a half, this burden of proof is easy to meet.
The S.513 EIDL bill ensures businesses can obtain their full 10k grants. It increases loan size back to 2 million and fast-tracks funds to those businesses most in need right now. It must be taken up by the Senate and passed immediately.
About RGD Gaming LLC
Founded in 2008 by Robert Dunham, RGD Gaming is a miniatures and tabletop accessories company that creates unique, bespoke miniature pieces for the gaming industry and individual gaming clients. The company also helps medical professionals train in HIV prevention. Learn more at: www.rgdgaming.com.
Robert Dunham, RGD Gaming Founder
SOURCE RGD Gaming LLC