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Jeremy Greenamyre
Vice President
Asked a question 6 months ago

Ami - You answered that you cannot use PPP to pay down an existing line of credit. How about using EIDL funds to pay down an existing line of credit?

Where am I?

In Multifunding SBA CoronaVirus Support you can ask and answer questions and share your experience with others!

My understanding is that PPP loan proceeds could be used to pay interest on all debt, including an existing line of credit.