EIDL Statements – What you need to know right now
Have you gotten an EIDL statement in the mail? The SBA is sending monthly EIDL loan statements in the mail now, and you may be confused as to what you need to do with them and when.
The statements may have you thinking: Do I need to repay EIDL funds now? Do I need to start repaying? What is the EIDL Interest rate? Am I accruing interest now? How long until I need to pay on the EIDL? Is the EIDL forgivable?
We cover all of these questions in the video.
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.