Should I reapply? No. Any additional applications will be marked “duplicate” and will not be processed. Please call our Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing) or email Disaster[email protected] to check the status of your application.
Thereof, can I still get EIDL loan?
EIDL loan and Targeted Advance applications will be accepted until December 31 and will continue to be processed after this date until funds are exhausted.
Keeping this in view, can I use SBA disaster loan to pay myself?
It seems clear you can’t pay yourself unless it’s for work you do in your business. After all, the SOP states that EIDL can’t be used to pay: “Disbursements to owners, partners, officers, directors, or stockholders, except when directly related to performance of services for the benefit of the applicant.”
Can you get 2 Eidl grants?
You want a second EIDL.
You may apply for only one COVID-19 EIDL. But if your business is located in a declared disaster area and it experienced additional economic injury, you may apply for a separate EIDL as well as a COVID-19 EIDL.
Approximately 95% of disaster loans are processed via Phase I. The Phase processing determines the amount of disaster funding you are eligible to receive. … Gross Profit ÷ 2 = maximum loan amount You Gross Profit is Annual Revenues less Cost of Goods Sold.
EIDL Loan Specifications
The maximum loan amount for this program is $2 million. Collateral is required for any loans over $25,000, with a preference for real estate. Funds may be used for working capital and normal expenses.