EIDL Loan Approved, Now What Do You Do?

Congratulations, you FINALLY got your EIDL Loan approved, what do you do now?

I explain what you can spend your SBA Economic Injury Disaster Loan funds on in conjunction with the SBA PPP loan.

The SBA EIDL Loan is approved for working capital expenses. These are your day to day operating expenses. This can include payroll, rent, utilities, inventory, legal fees, accounting fees, office supplies, etc.

What you have to be careful with, is if you accepted funds from the Paycheck Protection Program, you can’t use the EIDL money for the same expenses as the PPP.

I also give you my unsolicited opinion about this program and the PPP because I’m SURE you want to know :sarcasm.

Check out my channel for other updates and information regarding the PPP Loan and EIDL Loan programs, among other things related to the current economic crisis.

#EIDL #sba #ryansrant

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This video is for entertainment purposes only. The information portrayed in this video should not be considered as tax or legal advice. Consult with your own tax professional and attorney to get proper advice for yourself.

https://youtu.be/z-VabmCEBkE

Видео EIDL Loan Approved, Now What Do You Do? канала Nguyen CPAs