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EIDL and 7a

Posted on 3/27/20 at 6:56 pm
Posted by Unberlievable
Thibodaux
Member since Aug 2016
27 posts
Posted on 3/27/20 at 6:56 pm
Can you get both of these SBA loans?
Posted by simonizer
no
Member since Oct 2008
1647 posts
Posted on 3/27/20 at 7:03 pm to

This post was edited on 3/27/20 at 7:08 pm
Posted by bobdylan
Cankton
Member since Aug 2018
1530 posts
Posted on 3/27/20 at 9:06 pm to
My understanding is yes if you get the EIDL application in by 3/31
Posted by Sho Nuff
Oahu
Member since Feb 2009
11900 posts
Posted on 3/27/20 at 9:22 pm to
I thought I read you can't get both?
This post was edited on 3/27/20 at 9:23 pm
Posted by bobdylan
Cankton
Member since Aug 2018
1530 posts
Posted on 3/27/20 at 9:44 pm to
I found this-thinking the EIDL can’t be for payroll:

quote:

An applicant that receives assistance under the Economic Injury Disaster Loan Programs for purposes of paying payroll and providing payroll support is not eligible.
Posted by GravelLotinCanada
Anywhere, Anytime
Member since Dec 2019
258 posts
Posted on 3/28/20 at 2:43 pm to
I think you can do both. Read the very bottom billet point in this link for clarification.

ETA: the 7a is the paycheck protection plan correct?


LINK
This post was edited on 3/28/20 at 2:44 pm
Posted by bobdylan
Cankton
Member since Aug 2018
1530 posts
Posted on 3/28/20 at 8:00 pm to
Correct
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