I just had $1000 from the SBA deposited this morning. That was the $1000 of the 10K for only 1 employee. I applied 16 days ago. Apparently the participating bank who gets my app will contact me for the rest of the loan.
Difference between EIDL and PPP is the EIDL can be paid back for up to 30 years. The PPP is 2 years from what I understand.