EIDL ADVANCE

[beth7602]

Does anyone know how it works to receive the remaining advance from EIDL - we received the $1000 per employee a few weeks ago. We included the remaining amount($7000)  in PPP application and were approved including that amount.  We got the funding today minus the $7000 - assuming that now comes as separate transaction from SBA????

[nika]

Hi @beth7602- 

If you received an EIDL Advance, the amount of that EIDL Advance will be deducted from your total forgiveness amount. If you have other specific questions about your particular situation and balance, you can contact our Capital team or reach out directly to the SBA.

[Cherylh]

That makes no sense. If we got an EIDL advance but it is subtracted from PPP forgiveness we didn’t get the EIDL Advance after all. I read that some lenders are going to “eat” this difference. 

[Joe]

Hi @Cherylh! I would echo Nika here and recommend that if you have further questions regarding EIDL Advances, you can reach out to our Capital Support Team for further information.

[RockPaperScisrs]

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