$10,000 EIDL GRANT

The secured loan agreement was really not much different than any other commercial loan I've gotten. I already have an SBA 7(a) loan on my truck and I can assure you, the loan agreement, between the bank and the SBA was as or even more detailed than this EIDL loan. That's just my take though.

One thing is for sure, it appears there's a LOT of misinformation that floats around on the Interwebs regarding this stuff. It includes fearmongering, misdirection, secondhand propagation from those that haven't even received a loan offer from the EIDL or PPP programs.

 

I think I posted a link for the PPP loan forgiveness application somewhere. If not, it's here Paycheck Protection Program Loan Forgiveness Application

My bank encouraged me to download the pdf for the application and to familiarize myself with what they're requiring for documentation on the loan forgiveness side. It reads like a typical government produced worksheet application or tax return. There's 11 total pages that include calculation worksheets, definition of terms, etc.

If you're not well organized and used to this stuff, you might wanna prepare to have someone help you fill it out

 

Nah, I would imagine it will be several days for the dough to hit the bank. Especially since this is Memorial weekend.

 

As SBA works overtime to handle PPP, the agency's disaster loan program has trouble scaling up

 

Are you talking about monthly reporting to the credit bureaus? I know that the initial application for EIDL, a credit pull was done on my file. As far as continued reporting, I have no idea.

 

A friend called me today. He told me he received a $105,000 EIDL offer. His revenue last year was $233,000. He also has a very good credit score.