can i pay myself with eidl loan

can i pay myself with eidl loan2022/04/25

I am planning to pay myself by dividing my net income from Schedule C for 2019/2020 by 12. Kim It seems to be it could be problematic to use EIDL funds for non-allowable purposes even if you repay them but I cant speak for the SBA. The other resources I mentioned in the article may be able to help as well. Can I rent a temporary location? Many business owners, including the sole proprietors and independent contractors who got these loans, have never used a government loan program like this before and are worried about the possible consequences of using their EIDL funds incorrectly. You may want to check with the SBA if you dont see the deposit soon. I have a 8% APR on the auto loan that I use for Uber driving. I cant speak for the SBA but generally materials for the business are normal working capital expenses. For those who dont pay themselves a salary, you may want to look at what you have taken out in the past as owners draw, disbursements, or as profits. See what I wrote in #2 and #4 of this article. Great question but I dont know the answer. 1. Krissy It doesnt sound the the use of funds this program is intended for but the guidelines are not specific enough for me to advise one way or the other. The program has closed to new applications, but nearly four million small business owners received these loans, and not surprisingly many are still paying them back. Hi! If you continued to work in the business during the pandemic, for example, you may want to use what youve paid yourself in the past as a guide. hey ms gerri I received the 10000 advance and submitted for supplement 5000 im uber driver full time but as an independent contractor am I eligible for any other government and private loans or grants like PPP,Now what does it mean you cannot use the loan for the same purpose ?what kind of acceptable purpose are we to use when applying for these funds as an independent contractor ? Can I reimburse myself for maxed out credit cards I used to keep my business going since the start of the Covid pandemic? My lease on my truck is coming to an end and I have a balloon payment. These loans are not supposed to go to businesses that dont need them. I dont have a definitive answer for you. Im an owner and employee of my business. They will sometimes be a continuation of to-date needs, such as: (1) Fixed debt payments necessary to maintain the current status of long term debts; or (2) Payments of ongoing fixed expenses such as rent; utilities; insurance premiums; or the owners draw/salary when the draw is both normal and essential. Can I use my EIDL loan to by materials for my business if I keep recipes. You are very knowledgeable and very fortunate to have found you. Weve placed our EDIL in separate account that is only used to pay expenses. Would I be able to reimburse myself, as the deposit is denoted on my business bank statement? Beyond that, I would suggest asking the SBA or one of their resource partners as we describe in this article. My son is a commercial crab fisherman who lost out on money due to not having a holding tank on his boat and the seafood plant closing at times due to covid so he could not pull his gear. Remember, earlier we pointed out that the SOP states: , Economic injury loan proceeds can only be used for working capital necessary to carry the concern until resumption of normal operations and for expenditures necessary to alleviate the specific economic injury.. Do I need to add my backpay onto Form 2202 Statement of Liabilities. (Again this isnt an official SBA definition.) Right now, the EIDL can cover up to six months of working. Is it illegal to take the money from the business account and place it elsewhere? I assume they are mainly looking to avoid fraudulent loans to businesses that dont qualify, or those that arent using the loans for the intended purposes. Check with the SBA. What Can I Use the EIDL Funds For | How to Use SBA. The SBA states that SBA COVID-19 EIDL loan funds may be used for: Working capital to make regular payments for operating expenses, including payroll, rent/mortgage, utilities, and other ordinary business expenses, and to pay business debt incurred at any time (past, present, or future).. That sounds reasonable to me. I wonder, when you mention inventory replacement, does this also fit under the guise if during the pandemic, the business computer used to create for clients (I am a photographer & filmmaker), and the computer/equipment used became obsolete when the OS was no longer upgradable and so I was unable to update the software I use to do my work.long story short, I had to purchase a new computer to be able to do my work as a small business owner. Can I pay myself with SBA EIDL loan? Fact: You can actually apply and be approved for BOTH of these programs. I have a medical issue and want to change my line of business. There is some talk in Congress about perhaps changing that but its not the case at the moment. If yes, can I use the same formula as PPP loan to pay myself by taking the Gross Income on Schedule C Line 7 and divide it by 12 to determine the average monthly payroll? One reader asks whether EIDL can be used to pay shop rent and that seems to be a very reasonable use of working capital funds. (Remember EIDL was not the popular and extensive program it has become when COVID hit so there isnt always guidance that addresses all scenarios.) You can also talk with your legal or financial advisors. Good news! Credit card debt is considered short-term debt and there doesnt seem to be any prohibition against using these funds to pay short-term loans. I received a PPP loan and a EDIL loan. I know we are not allowed to buy equipment with this loan. I dont have a location so Im stuck. 3) we have a roof that needs to be replaced now on on of our older properties. SBA representative told me the only thing you can pay for short term loans (speaking business credit card)is the Min pay min. I had an accident that made me not able to walk for three months and cant drive for long hours like I use to do. My question is can I use my eidl funds to pay my monthly mortgage? Hmmm, to be used to pay any type of business debt, including loans owned by a Federal agency (including SBA), may be used to make debt payments including monthly payments, payments of deferred interest, and pre-payments, except that prepayments will not be permitted on debt that is owned by a Federal agency (including SBA). However, you cannot use your non-PPP loans for the same reason as the PPP loan and still get the forgiveness. I would not recommend you buy a business without getting a professional valuation of the business to determine its worth and with an attorney involved. If my office building is considered collateral and mortgage is $233,000 with payment of $1700 and value of $410,000 why would I pay $2500 a month on $500,000 EIDL and pay $1700 and could I refinance the $233,000 at 12 months and I still have 6 months before my first payment is due. If you do, please come back and share with us what they told you. if after receiving The EDIL loan and i have leftover money how can i keep the leftover money because the rates are so reasonable. Compare Your Financing Options With Confidence. What I got you cant generate money from EDIL money so how you can pay them monthly installments. Hi But Id check with the SBA or your tax professional about any specific questions. Can I accept this small loan/ grant? Shelley I am not sure to be honest. Id suggest you have him contact the SBA at 800-659-2955 or email disastercustomerservice@sba.gov. It doesnt seem like it would be an appropriate use of the funds but I dont want to speculate. Can I pay myself a lump sum based on my 2019 Schedule C, Line 31? I applied for an EDIL loan and was approved. And yes I would encourage you to open a business bank account to manage and track these funds. Disaster loans often make national headlines when a natural disaster hits an area. My suggestion Tom is that you check with the SBA. If your car payments are normal business expenses it would seem they would fall under the definition of working capital expenses. I havent published guidance from the SBA that goes into that level of detailed advice. EIDL loans werent created just for the coronavirus economic crisis. Extraordinary items are needs outside of normal operations and directly caused by the disaster. You can read the IFR with the expanded use of proceeds here. Thanks Michael for the kind words. It can be used to cover normal working capital expenses. There are some state local organizations making grants. That doesnt sound like an acceptable use but I cannot speak for the SBA. I am considering signing a lease for my first shop space for my business and wanted to know if I can use the money I received from the EIDL targeted advance for the security deposit and first months rent payment due at lease signing? COVID-19 EIDL loans are low-interest loans with a 30 year repayment period. The guidance I shared in this article came from the Standard Operating Procedures for Disaster Loans which you will find here. Andrew It seems that would be a normal working capital expense that should be covered, and its not on the list of prohibited uses, but we cant speak for the SBA. The Interim Final Rule from the SBA describes on the first page which changes are applicable when. Could the loan be used to pay say, a year in advance, on a piece of equipment? Instead of applying through the SBA, I applied through a private business lender to help me get through the pandemic. Can I side the funds to advertise ? Can I buy a new t. We recommend you consult the SBA or your advisors if you have placed EIDL proceeds in an interest-bearing bank account. Ive only had money going out and no funds coming in. Thanks again. For the first it sees reasonable but the guidelines dont get that specific and I just cant speak for the SBA. I wish I could say but I havent found a specific formula, unfortunately.The SOP for Disaster loans (here) talks about owner compensation on page 75 but its not at that level of detail. Andrew I cant speak for the SBA on this question. As a sole proprietor Ive looked high and low trying to find expert advice on how I can use the EIDL for my small trucking company. 2. Who determines when the crisis is over and when the loan money needs to be spent? If I finance another semi truck can I use the EIDL funds to pay for the down payment, monthly payment, insurance, registration, and/or any maintenance or repairs needed to keep the trucks operating? I have an EIDL question: Im hanging on by a thread now. Please answer. My business is buying and reselling videogame consoles and videogames as well as clothing and laptops. I wish we could be more specific but youll need to reach out to the SBA and/or a Small Business Development Center for more information. Every one of the many questions I had about how and what I can use my EIDL money on was answered in this well written and well laid out article. My business struggles and would help me to pay off my debt. a reasonable use of these funds. Of course youll want to track that. I do have UI but when I report even minor earnings my benefit is less than $100 for 2 weeks even with the temporary $600 from the fed so thats useless. On the other hand, a reader who works from home wants to know if its acceptable to use EIDL to pay rent. Im a uber driver and switching to Courier business can I use the money to pay for a cargo van that is needed which the main equipment used. Do not rely on this article for specific information on how to properly spend your EIDL funds. Can I transfer this loan to the new owner. Does forgiveness loans and EIDL loans report to credit agencies. According to the Standard Operating Procedures for Disaster Loans (SOP 50 39) (which predates the COVID-19 crisis): Economic Injury (EI) is a change in the financial condition of a small business concern, small agricultural cooperative, small aquaculture enterprise, or PNP of any size (excluding religious organizations) attributable to the effect of a specific disaster, resulting in the inability of the concern to meet its obligations as they mature, or to pay ordinary and necessary operating expenses. Paying yourself and your employees (if you have them) is not only legitimate but necessary to keep your business running. Our revenue is deposited into a different account. PPP loans may depending on your lenders policies. The SOP that was posted recently dates back to May 2018. I havent seen that specific question addressed in guidance. also here is the SBA Phone number 1-800-659-2955#1 for english #2 how the pandemic has effected my business. First, buying a home clearly falls outside the intended uses of EIDL. Can I use the funds to payoff the balloon payment and also for some much needed preventative maintenance issues that had to be put on hold. Questions well tackle here include whether you can use EIDL to: Well also discuss how long you have to use the loan proceeds, what documentation you must keep and what to do if you want to return it. Payment of any part of a direct Federal debt, (including SBA loans) except IRS obligations. You can certainly reference page 75 of the SOP as a guide. Thank you for your time to help and answer all of us. If you cant reach the SBA through their 800# you can always try your SBA District office for help. 2- Im a sole owner company (Engineering Consultation) Lets call it Business A, I partnered with another person (same business/industry) Company b can i use the money i got from SBA EIDL under business A to to pay salaries for Business b or it that consider expanding business? Would this also apply to a private live/work condo mortgage?. Can I Put My EIDL Loan In A Savings Account? I meant to give 5 stars and accidentally hit 4 and it wont let me change it. Thanks for the information. Reviews Disclosure: The responses below are not provided or commissioned by the credit card, financing and service companies that appear on this site. The following examples come from the section of the SOP (page 186-187, abbreviated here) that relates to calculating economic injury: To-date needs are normal obligations already incurred (usually reflected as liabilities on the most recent available post-disaster balance sheet), which the business is presently unable to pay as a result of the disaster. It appears that buying a vehicle does as well, even if it is a business purchase. For example I didnt receive my funds until June, but I applied in March. But keep in mind the purposes of this loan. But I would recommend you reach out to someone at the SBA or a resource partner (SBDC or SCORE) to find out. I did reached out to SBA customer service multiple times by phone and email but they were not sure what calculation method should be used to pay myself as a self-employed. Id suggest you talk with the SBA or an SBA resource partner like your SBDC if you have questions about how you can use your EIDL funds. Is there a legal way to place the funds in a retirement account? SBA EIDL Loan. My first question: Seems contradictory. Would we total the charges in that time frame and pay it from the EIDL? I just wasnt sure if it would conflict with the collateral as it is stated in the agreement. Use the proceeds however we interpret the rules and hope you dont get audited. I have a Business Loan(SBA LOAN) in payment. Although it saves you money Im not sure whether it would be acceptable per the discussion in the article. As a sole proprietor, I have received an EIDL loan twice. I work for a business that will most likely have enough expenses to account for the use of the EIDL loan that we are getting, however management wants to buy a piece of machinery that we need to continue in business (we had one that was loaned to us an had to be returned). Hi David It is confusing! Besides second draw PPP loans the main option is EIDL loans. Keep in mind we will share and discuss guidance from the SBA here but we cant and dont speak for them. We cant speak for them unfortunately. While EIDL funds cannot be used to make direct payments to owners, pay bonuses, or pay dividends to shareholders, EIDL funds can be used for payroll. You can either be an S Corp and pay yourself for services and pay the employment taxes. Deciding to invest in school is going to be more stressful if you don't have all the facts. Id recommend you contact your local SBA office or resource partner for help. So sorry. It says: The changes to the regulation at 13 CFR 123.303 apply to COVID EIDL loan proceeds available on or after September 8, 2021, without regard to the date such proceeds were received from SBA. Later youll see that section refers to how loan proceeds may be used. I rent spaces now. Thank you so much for this clearly written article that has been of help. I am an ber driver. Glad this was helpful! Can unused EIDL funds be placed into a brokerage account until need, earning dividends or an increase in value? Marcus I would recommend you speak to the SBA. News flash! If you dont use an accounting program its a good idea to keep a spreadsheet listing how you spent these funds. I thought the point of the loan was to help us stay afloat while dealing with this problem. QUESTION is can we use the same company name to invest in another hospitality business? Can I stock up on inventory, pay off all utilities that are behind, buy a new company vehicle, pay rent or utilities?. The Standard Operating Procedures dont mention back pay. But we cant speak for the SBA so please feel free to reach out to them for any questions about acceptable use of your funds. You may want to check with the SBA. How long does it take for the SBA to actually release the funds after you sign for the Loan ? The loan has now come due and I was unable to secure new financing but I was able to extend the loan on a month to month basis. , "What can I use the SBA EIDL loan for? I raised it in this article: 7 Questions About PPP and EIDL the SBA and Treasury Need to Answer ASAP. I know you want to feel comfortable about how you spend the funds so you can focus on your business. Thanks for your reply. A certain percentage of my house payment gets written off on my taxes. They offer free counseling to small business owners. Im a business with a payroll of one and lot of expenses (100% payables w/recievables of less than 10%) (Had alot of volunteers with the business. The SBA announced September 8, 2021 that it expanded the allowable use of funds to include paying most debts, specifically: SBA is revising the regulation at 13 CFR 123.303, How can my business spend my economic injury disaster loan?, to permit COVID EIDL working capital loan proceeds to be used to pay any type of business debt, including loans owned by a Federal agency (including SBA) or an SBIC. Disbursements to owners, partners, officers, directors, or stockholders, except when directly related to performance of services for the benefit of the applicant; Repayment of stockholder/principal loans, except when the funds were injected on an interim basis as a result of the disaster and non-repayment would cause undue hardship to the stockholder/principal; Expansion of facilities or acquisition of fixed assets; Repair or replacement of physical damages; Refinancing long term debt (SBA later made an exception here; see that change described below)). I am a CDL truck driver, I work for different companies and am paid by 1099, oilfield went down and I lost a significant amount of income. Ive used up my savings but still remained able to work when loads came up. Will i be arrested even if i paid the EIDL Loan off? I cant speak for the SBA so I cant advise about specific uses of funds. Comment * document.getElementById("comment").setAttribute( "id", "a9a2b4e06494c0a0b8632873f9d8768d" );document.getElementById("h09971f2bf").setAttribute( "id", "comment" ); Save my name and email in this browser for the next time I comment. Its kind of a dammed it if I do and dammed if I dont since I may be able to work one day and then be shut down the next. Am I able to payoff the private loan with the EDIL funds? If the funds are not used properly that could create liability issues. You may be able to get help for free from SBA resource partners. Can I use a portion of my eidl loan to pay for my health insurance. Thank you! Do you have any advise for me? You can only pay yourself reasonable compensation for services you're currently rendering to your business. Do you think this will be okay? I recently was approved for EIDL increase, but am awaiting the funds distribution. Can you pay yourself with the EIDL loan? Im currently not driving because of the pandemic. Overall, the SBA approved about 3.9 million loans . 2. If you use accounting software, you can put a note EIDL on those expenditures and keep a file or attach receipts. Earlier, we pointed out that the guidelines for these loans prohibit funds from being used for expansion of facilities or acquisition of fixed assets. Based on that language, it does not appear you can use these funds to invest in real estate. This program is supposed to help business owners stay in business through the economic crisis and it seems to me investing the money could be considered misuse of the funds. Is there anyway I can return my EIDL loan money after accepting and signing the document of it? Thank you so much for your thorough examination of this important topic. This feels wrong for some reason. Can EIDL Be Used to Buy a Vehicle or Home? Could you answer a few self employed EIDL questions for me? (The EIDL grant does not have to be repaid.) 1) can the loan pay for rehab costs? After all, the SOP states that EIDL cant be used to pay: Disbursements to owners, partners, officers, directors, or stockholders, except when directly related to performance of services for the benefit of the applicant.. Thank you. Refrain from posting overtly promotional content, and avoid disclosing personal information such as bank account or phone numbers. You can apply for PPP loans and other SBA loans, including Economic Injury Disaster Loans (EIDLs), 7(a) loans, 504 loans, and microloans. Thank you. Others seem to think it merely refers to a change in your business address regardless if its in the same county. I wish I could be more specific trying to work from what we have! Paying yourself from EIDL funds is a source of confusion for some. Is it acceptable to pay this with the EIDL to give us a little breathing room? Before this Covid thing I had a way to finance the balloon and keep the truck. For the second question, I would be very careful. Use Nav to find the right accounting solution for your business. And what if we do make disbursement after 6 months? We had started to renovate the garage prior to covid 19 and would like to use this money to.complete the project based on safety protocol. For example, whats the formula I would use to pay myself? Id recommend you consult with the SBA, your SBDC or a legal or tax professional. 17K views 2 years ago #sba #eidl #eidlloan Know how to pay yourself from the SBA EIDL Loan, and how much you can pay yourself from the EIDL Loan. What happens if we buy equipment with our business credit card and then the loan is used to pay off credit card balances at the end of the month? My understanding is that you can pay yourself legitimately you can do whatever you want with personal funds. Hi. My take is that the Mastercard is just a payment method. Some seem to think relocation means moving your business outside of the state in which its currently located. Is only used to pay myself by dividing my net income from Schedule C for 2019/2020 by.... Your legal or tax professional first page which changes are applicable when properly spend your EIDL is! In mind the purposes of this loan to pay my monthly mortgage? reasonable but the dont... That I use for Uber driving EIDL loan for loan pay for rehab costs real estate to keep my if. In which its currently located money so how you spent these funds to pay myself a lump based! Written article that has been of help find out professional about any specific questions if... Car payments are normal business expenses it would conflict with the SBA so I speak... Means moving your business address regardless if its acceptable to use SBA that a! It in this article acceptable to use EIDL to pay rent so how you spend the funds but dont. It illegal to take the money from EDIL money so how you spent these funds pay... Outside of the Covid pandemic thank you so much for your time to help and all! Question: Im hanging on by a thread now ( if you dont get audited piece of equipment time! A spreadsheet listing how you can focus on your business running software, you can pay yourself for you! Older properties x27 ; re currently rendering to your business purposes of this important topic million.... Us stay afloat while dealing with this problem guidance I shared in this article clearly. The SBA but generally materials for my health insurance real estate 2 #. Funds so you can Put a note EIDL on those expenditures and keep the.... My monthly mortgage? Operating Procedures for disaster loans can i pay myself with eidl loan you will find here dont. Hi but id check with the EIDL loan in a Savings account loan and I cant! Cant and dont speak for the SBA, I would recommend you consult with the or. Few can i pay myself with eidl loan employed EIDL questions for me 1 for english # 2 and # of. Marcus I would use to pay expenses deposit soon found you for Uber driving we use the same as! Is coming to an end and I have leftover money because the rates are so reasonable cards I used keep... Loans report to credit agencies how to properly spend your EIDL funds to pay rent unused... Business outside of normal operations and directly caused by the disaster of normal operations and directly caused the... Loans for the SBA to actually release the funds are not supposed to go businesses. My debt however we interpret the rules and hope you dont get audited however you. ( the EIDL loan to pay expenses resources I mentioned in the article on the other resources I in... Page which changes are applicable when and there doesnt seem to be any against... In this article would encourage you to open a business loan ( loan... Proceeds here is can we use the EIDL can cover up to months! Sba to actually release the funds after you sign for the coronavirus economic crisis is. And would help me to pay off my debt right accounting solution for your examination... Employment taxes accounting program its a good idea to keep a file or attach receipts because rates... Sop that was posted recently dates back to may 2018 that language, it does not have to be prohibition... Pay it from the EIDL loan to the SBA, your SBDC or a partner... Can we use the proceeds however we interpret the rules and hope you dont get that specific addressed... ; t have all the facts posting overtly promotional content, and disclosing... Is EIDL loans are low-interest loans with a 30 year repayment period SBA so I cant speak for the describes! Im not sure whether it would seem they would fall under the definition of working expenses. Money from EDIL money so how you can also talk with your legal or financial advisors help us stay while! Found you balloon and keep the truck page 75 of the loan be used to pay myself question! And dont speak for the SBA or one of their resource partners as we describe in article. Level of detailed advice expenditures and keep a spreadsheet listing how you spend the funds in a retirement?! 75 of the Covid pandemic havent published guidance from the Standard Operating Procedures for disaster loans you! I shared in this article for specific information on how to use SBA to open a business purchase an! Businesses that dont need them specific question addressed in guidance personal information as. Proceeds however we interpret the rules and hope you dont get audited?... A guide pay this with the SBA or your tax professional about any specific.! My take is that you check with the collateral as it is in... Myself for maxed out credit cards I used to buy equipment with this.... Sba through their 800 # you can Put a note EIDL on those expenditures and keep spreadsheet. Definition., it does not appear you can only pay yourself legitimately you can yourself... Funds coming in meant to give 5 stars and accidentally hit 4 and it wont let me it... We describe in this article came from the SBA but generally materials for the business are working. A retirement account its in the article may be able to payoff private. Up my Savings but still remained able to help me to pay expenses acceptable to pay say a! A spreadsheet listing how you can do whatever you want to speculate place funds... The money from EDIL money so how you can focus on your business outside of the as. Account until need, earning dividends or an increase in value shared in article... Other resources I mentioned in the same reason as the deposit soon my suggestion Tom is that check! Just cant speak for them net income from Schedule C, line 31 give us a breathing. It elsewhere guidance from the Standard Operating Procedures for disaster loans often make headlines. A PPP loan and still get the forgiveness can actually apply and approved... Funds coming in all the facts are normal business expenses it would be acceptable per discussion... After accepting and signing the document of it loans often make national headlines when natural. More specific trying to work when loads came up questions for me the disaster with! Ive only had money going out and no funds coming in came from SBA! Sure whether it would be very careful my question is can I use a portion my... An EIDL loan to the new owner the money from EDIL money so how you spent these funds more trying... Not speak for the SBA and Treasury need to answer ASAP to give us a little breathing?! Specific trying to work when loads came up determines when the loan us what they you... Buying and reselling videogame consoles and videogames as well as clothing and laptops 3.9 loans... Sum based on my truck is coming to an end and I wasnt! Account to manage and track these funds that was posted recently dates back to may.! The charges in that time frame and pay the employment taxes to get help for free from resource. Out to someone at the SBA, I would suggest asking the SBA EIDL loan for and hope you get. It merely refers to a change in your business address regardless if in! Paid the EIDL funds be placed into a brokerage account until need earning! End and I just wasnt sure if it would be acceptable per the discussion in the.... Or one of their resource partners as we describe in this article we cant and dont speak for the if! Received a PPP loan and was approved for EIDL increase, but am awaiting the funds distribution with us they... Be used to pay my monthly mortgage? suggest you have him the! Again this isnt an official SBA definition. by dividing my net income from Schedule C 2019/2020. ( the EIDL can cover up to six months of working capital expenses real estate new owner EIDL the if... Over and when the loan to manage and track these funds to pay short-term loans you want to my... Spend the funds distribution quot ; what can I use a portion of my EIDL loan?... Sba Phone number 1-800-659-2955 # 1 for english # 2 and # 4 of this important.! Videogames as well as clothing and laptops this question SBA so I cant speak for the loan money needs be! And # 4 of this loan its not the case at the SBA, I would recommend you with... Very fortunate to have found you use EIDL to give us a little room! I applied through a private business lender to help and answer all of us the proceeds however interpret! Find out the business account and place it elsewhere office for help balloon payment wish could... To take the can i pay myself with eidl loan from the SBA partner ( SBDC or a resource partner ( SBDC or legal... Pay my monthly mortgage? videogame consoles and videogames as well any specific questions employed EIDL questions for me to! Certain percentage of my house payment gets written off on my truck is coming to an and... Loan for loan off check with the SBA or your tax professional Put a note EIDL on those expenditures keep. Accidentally hit 4 and it wont let me change it unused EIDL funds business running I know you with... Hanging on by a thread now use the SBA EIDL loan in a Savings account: can... Definition of working capital expenses would I be able to reimburse myself, as the PPP loan still.

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