fbpx

EIDL Repayment Schedule – How much interest will you pay? Loan Amortization {FREE DOWNLOAD}

You can find the amortization schedule here: https://claracfo.podia.com/eidl-amortization-schedule Did you know your EIDL loan is a 30 year loan!? That is as long as most mortgages!!! The interest rate is 3.75%, which is relatively low for a business loan, but the term on this loan is pretty ridiculously long. We advise business owners to not use debt any longer than necessary, and a 30 year loan is probably unnecessary for most small business owners. We created a loan amortization schedule so you can know just how much interest you may be paying over the life of your loan. We also built in prepayment options for you! We show how our EIDL loan in this example and actually walk through the SBA statement to show you the table inputs! The EIDL Grant (AKA EIDL advance) does not need to be repaid. Will another stimulus package provide forgiveness on EIDL loans? No. This is not a forgivable loan. Find Small Business PPP Resources here: http://learn.claracfo.com/ To book a time to talk about your PPP Loan go here: https://claracfo.as.me/claritysessions Find us at: https://claracfo.com/ Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience. Clara CFO Group, LLC or its members cannot be held liable for any use or misuse of this content.

Submit a Comment

Your email address will not be published. Required fields are marked *

Pin It on Pinterest