- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Small Business Resource Thread COVID-19
Posted on 3/30/20 at 2:35 pm to VABuckeye
Posted on 3/30/20 at 2:35 pm to VABuckeye
I applied for 2 EIDL loans for 2 companies this morning directly through SBA's website and they are pretty straightforward. My CPA says to apply for each seperate company you own.
EIDL Application
Has anyone tried filling out FORM 1920 of the 7(a) loan application? It looks like Section E as well as other sections are checking your net worth, lines of credit as a means test, which is the right way to do it in my opinion. It's not clear though.
EIDL Application
Has anyone tried filling out FORM 1920 of the 7(a) loan application? It looks like Section E as well as other sections are checking your net worth, lines of credit as a means test, which is the right way to do it in my opinion. It's not clear though.
1
Posted on 3/30/20 at 2:40 pm to Doctor Strangelove
I won't be doing EIDL. Just the PPP loan. My wife will be doing one for her bookkeeping firm as well.
I do know that EIDL loans do look at net worth however for loans below $200k the following applies according to PNC.
ETA: It appears that one could do the PPP loan and do a supplemental EIDL loan for under $25k with no collateral requirement.
I do know that EIDL loans do look at net worth however for loans below $200k the following applies according to PNC.
quote:
Guarantees are required for loans >$200k and collateral is required if loan is >$25k
? Real estate is preferred, but a loan will not be declined for lack of collateral. Any
available collateral will be taken. SBA lien is subordinate to any existing liens
ETA: It appears that one could do the PPP loan and do a supplemental EIDL loan for under $25k with no collateral requirement.
This post was edited on 3/30/20 at 2:42 pm
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News