📌 I received an EIDL and PPP Loan, can I still qualify for an SBA loan?
July 25, 2024
No items found.
Alex McAloon, CEO of Fastway SBA, answers one of the most frequently asked questions - "I received an EIDL and PPP Loan, can I still qualify for an SBA loan?"

‍

Yes, you can get an SBA working capital loan in addition to an EIDL loan. When considering an SBA loan, you will need to make sure that your EIDL is being paid. Since the SBA issued EIDLs, each business payment history is being tracked by the Government. If you are not making payments on your EIDL, you will be required to if considering an SBA guaranteed loan from a bank.

[INLINE-CTA]

Transcript: 

0:00 PPP loan you most likely didn't even

0:04 have to pay back EIDL loan, you

0:08 will have to pay back or hopefully

0:09 you're currently paying but does not

0:13 prevent you from getting more financing

0:15 the every lender understands that, that

0:17 EIDL was a necessary loan and so absolutely we can

0:21 get you financing in addition to that we

0:24 we work often with the EIDL portal

0:28 because they did change it

0:30 post funding so we can advise our

0:33 clients on how to get through the set up

0:34 properly and make sure that they're up to date

No items found.