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re: EIDL Increase Email
Posted on 8/4/21 at 9:57 am to ithad2bme
Posted on 8/4/21 at 9:57 am to ithad2bme
Just be careful in case you ever get audited. The funds are not to be used for business expansion.
We dumped ours into a separate payroll account and we are using working capital outside of the EIDL money for growing the business. Just dotting i's and crossing t's.
Grats on funding. It's a great feeling to be through the process.
We dumped ours into a separate payroll account and we are using working capital outside of the EIDL money for growing the business. Just dotting i's and crossing t's.
Grats on funding. It's a great feeling to be through the process.
1
Posted on 8/4/21 at 1:15 pm to VABuckeye
quote:
Just be careful in case you ever get audited. The funds are not to be used for business expansion
Good advice, we actually plan to do the same thing you are doing with putting the money into a dedicated account to pay payroll out of.
We are developing a software application that streamlines our work and makes it more scalable, so most of the extra expenses are payroll anyway. The obvious benefit is that if it works for us, then it's a solution for others as well, and then we can market it.
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