Attorney Explains EIDL Collateral - What You Need to Know

In this video, I cover in depth the EIDL collateral requirement, including what collateral is generally, how it is defined in the EIDL loan documents, and what restrictions borrowers must abide by in order to avoid a default.

DISCLAIMER: please note that the information contained in this video is for educational and entertainment purposes only. You should always consult your own attorney and your own financial and tax advisors before making any legal or financial decisions. This video is not intended to and does not create any attorney-client relationship between the content creator and the viewer. The views and opinions expressed in this video belong solely to the creator and do not reflect those of his law firm or any of his business partners.

The complete EIDL playlist:
https://www.youtube.com/playlist?list=PLfDCjb-_0b5YmTKJ0QWdsPTspmbceQvKY

My attorney profile and contact information:
https://www.woh.com/attorneys/79/vitaliy-volpov/

My blog:
http://www.succeedrei.com

My real estate brokerage:
https://www.serenityrealestate518.com/

Facebook pages:
https://www.facebook.com/SucceedREI/
https://www.facebook.com/serenity518/

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Time Stamps:
1:32 - What is "collateral" generally?
2:50 - "Collateral" in the EIDL loan documents
3:37 - Collateral and EIDL grant/advance
5:09 - EIDL collateral description
6:40 - EIDL collateral does not include real estate
7:39 - Distinction between individual borrower and a company borrower
8:38 - Restrictions on transfer of collateral
10:34 - Maintenance of collateral, SBA rights of inspection
13:06 - Hazard insurance requirement for your collateral
14:11 - Change to borrower's location, legal structure, or name
14:54 - What happens when you default on your EIDL loan
16:25 - Personal liability/personal guarantee

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#EIDLloan
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Видео Attorney Explains EIDL Collateral - What You Need to Know канала Succeed REI