Per requests from the comments on previous videos, I have explained what I know about using SBA EIDL for credit cards, mortgages, and mortgages on home based businesses.
The Economic injury disaster loan assistance program has been incredibly helpful for many small businesses; but business owners have questions about how to use these funds.
What can the SBA Disaster loan be used for? Despite the fact I’m not a CPA or an attorney, I attempt to use broad examples to answer this question. For your particular situation, do not take my advise…reach out to your attorney and CPA in order to make sure you are appropriately using these funds!
The recourse of these small business loans are both fines and imprisonment, so do your research, be smart, and make good decisions!