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Sba Economic Injury Disaster Loan Agreement

If you unduly claim this credit, you may be punished civilly and/or criminally. There are 12 months of payment deferral that are automatically integrated into the disaster loan that starts from the date of the note, but is incurred by interest. The SBA strongly recommends the use of the online credit application, which can be found under disasterloan.sba.gov/ela/. You can request free assistance from Wisconsin SBDC. Note: From 15 June, the SBA again accepted new applications from the IEDL (Economic Injury Disaster Loan) and on 11 July, the SBA closed the EIDL`s advances, the $20 billion envelope having been exhausted. Check with SBA Disaster Customer Service if you have a question about the status of your loan. PPP funds are included in the category of grants or other repayments. The government has made it clear that you can have both types of appropriations as long as they are used for different expenses or „not for the same purpose.” It may be wise to keep funds separate and use PPP loans to pay employees, since 75% of the funds must be spent on the pay slip to be allocated. You can use FDI funds for your other operating expenses. Of course, you need to track how you use these credits. You`ll probably want to create a separate operating account if you don`t have one yet. For loans over $150,000, the SBA requires recipients to accept: For loans over $25,000 $US, the SBA claims tangible and intangible personal property, including, but not limited to: This type of disaster is unprecedented, so no one can predict with certainty…

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