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SBA Disaster Loans

Asked a question 2 years ago

Can either the PPP or EIDL funds also be used for hiring new employees & vendors, or are funds limited to helping existing employees & vendors only?

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

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?

I am still open and paying employees who are working. Only 1 has elected to not work. I also pay myself as an employee ... other than rent and utilities? Thanks.

For the EIDL grant application, are you aware of whether independent contractors would be considered employees for the question on # of employees?

If I’ve received both PPP and EIDL, can I use funds from EIDL for payroll AFTER I’ve depleted funds from PPP over the 8 week period.

If we have paid a 1099 employee through payroll and they apply for the grant through the EIDL can we include those funds in our payroll amounts for the loan?

Are there use limitations/requirements for EIDL loan funds?

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Asked a question 2 years ago

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