SBA EIDL Ineligible Uses of Loan Proceeds.
What you can not spend your Economic Injury Disaster Loan EIDL money on.
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By Murray Wennerlund published 10-21-2022 updated 10-21-2022

E. Ineligible Uses of Loan Proceeds:

EIDL proceeds may not be used for:

  1. Payment of any dividends or bonuses

  2. Disbursements to owners, partners, officers, directors, or stockholders, except when directly related to performance of services for the benefit of the applicant

  3. Repayment of stockholder/principal loans, except when the funds were injected on an interim basis as a result of the disaster and non-repayment would cause undue hardship to the stockholder/principal

  4. Expansion of facilities or acquisition of fixed assets

  5. Repair or replacement of physical damages

  6. Refinancing long term debt

Resource link: https://www.sba.gov/sites/default/files/2018-06/SOP%2050%2030%209-FINAL.PDF

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