Can I Pay Myself With The EIDL Loan? CPA DO'S & DONT'S

Many people want to know, can I pay myself withe the EIDL loan? While the SBA may tell you one thing today and something else tomorrow, many CPAs are also chiming in with their point of view. Along with these questions we are also getting the following questions about the EIDL loan:

1. Can I pay myself distributions with the EIDL loan?
2. Can I pay myself a salary with the EIDL loan?
3. Will I be in trouble if I pay myself with the EIDL loan?
4. I am an independent contractor, can I pay myself with EIDL loan?
5. Is the EIDL loan forgivable?
6. Who can get the EIDL loan?
7. Can I continue to pay myself if I take the EIDL loan?

according to the CPA in this video, you can pay yourself for services rendered

https://www.cpabr.com/covid_19_news/beware-that-eidl-loan-may-come-with-unexpected-strings-attached/
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Видео Can I Pay Myself With The EIDL Loan? CPA DO'S & DONT'S канала Culture Estate