Getting approved for an EIDL loan is a great first step in successfully navigating COVID-19 as a business.
But once you receive the loan, you’ll need to spend the funds in the right way, and keep a number of records to comply with the SBA agreement you signed.
In this simple guide, we cover:
- The rules on what you can spend your funds on
- Which expenses are prohibited
- Using the EIDL and PPP together
- Which receipts to keep during the EIDL loan
- The accounting and bookkeeping requirements for complying with the SBA going forward
And much more.
Once you’ve gotten approved, you can consider this your one-stop handbook to managing your EIDL loan.