Hello everyone, I just got a big sum of money from the EIDL program, I own two trucks and trailers, small company operations, can this money be used to pay for every day trucking expenses,how about truck and trailer payments??
EIDL
Discussion in 'Ask An Owner Operator' started by Trucker27971, Jul 3, 2020.
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USe the search feature at the top of the page. Lots of EIDL info there
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EIDL unlike PPP is a simply a low interest loan with no restrictions on how you can use it. The initial grant of up to $10,000 ($1,000 per employee up to a max of 10) that was offered is forgiven, but you will owe the full balance of the EIDL loan over 30 years. Payments are deferred until next year.
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Beaver9 Thanks this.
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These are working capital loans that may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. You can pay insurance, fuel, truck payments....
SteveScott Thanks this. -
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