Unfortunately, portal is currently in readonly mode. You cannot post answers or questions.

Question

SBA Disaster LoansNEW SBA LOANS

Asked a question 3 years ago

I have a client who recently applied (their application was submitted last Friday) for an Economic Injury Disaster Loan (EIDL) directly through the SBA. Should they stay the course on the EIDL process or switch to the Paycheck Protection Program (PPP) or will all pending EIDL applications get routed into the PPP process?

Where am I?

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

We've already applied for an EIDL loan (pending), can we apply to the PPP loan and how will these two loans work together? Can the EIDL be used to cover what PPP doesn't?

If I was in business in 2019 but only started payroll in 2020, can I use the 2020 payroll to calculate the average monthly payroll for EIDL and PPP application?

We received a PPP in the first wave and spent on payroll 80%. Rent the other 20%. We had to close one of our locations. ... I work to get the address changed?

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?

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?

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

311 views

0 followers

Asked a question 3 years ago

Views this month