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EIDL Grant
Asked a question last year

Why would a business NOT sign up for the $10k EIDL grant? Is there some potential downside?

Where am I?

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

It is my understanding that at this point you can not apply for both the PPP and the EIDL.  

Don't know if downside other than to be legitimately forgiven, it must be used on your business. Whether they will check that info like they will for the PPP, is yet to be known.  They also check for credit score before getting advance.