396. SBA EIDL Ineligible Uses of Loan Proceeds

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 50 30 9-FINAL.PDF

SBA Form 3502

Temporary Halt in Residential Evictions to Prevent the Further Spread of COVID-19 An unpublished Notice by the Centers for Disease Control and Prevention on 09/04/2020

Reconsideration of Declined Loan Applications SBA Economic Injury Disaster Loan (EIDL)

I made a mistake listing my revenue when I applied for the SBA EIDL, I would like reconsideration for the loan.

I applied and was accepted for an SBA loan but opted to take a lower amount once my loan was offered. How do I request the full amount of the first SBA loan that was offered?

8.2 LOAN DECREASE AND CANCELLATION

123.303 How can my business spend my economic injury disaster loan?

Disaster Unemployment Assistance is not managed by Tier 2 SBA agents.

IRS Stimulus check status. Check on the status of your Economic Impact Payment.

Paycheck Protection Program (PPP) Rule Changes and Public Comment links