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I’ve read that if you ultimately receive a PPP loan or refinance an EIDL into a PPP loan, any advance amount received under the Emergency Economic Injury Grant Program (i.e., $10K EIDL advance) would be subtracted from the amount forgiven in the PPP. Is that your understanding?

Gina Wild · Accepted Answer

Yes.  I read the code and that’s how it works.  Otherwise you are double dipping.  I had a client apply for the advance (tho he didn’t need funds that quickly) and i now had him apply for a ...

I’ve read that if you ultimately receive a PPP loan or refinance an EIDL into a PPP loan, any advance amount received under the Emergency Economic Injury Grant Program (i.e., $10K EIDL advance) would be subtracted from the amount forgiven in the PPP. Is that your understanding?

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I’ve read that if you ultimately receive a PPP loan or refinance an EIDL into a PPP loan, any advance amount received under the Emergency Economic Injury Grant Program (i.e., $10K EIDL advance) would be subtracted from the amount forgiven in the PPP. Is that your understanding?

Where am I?

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