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EIDL loan and PPP

I received a ppp loan, and i have used all funds already. I am planning to apply for forgiveness once my bank offers it.
I am approved for a SBA (EIDL) loan as well, if i accept the sba loan, will this affect my forgiveness application on the PPP loan

Comments

  • Brian_SBMBrian_SBM Vice President, Entrepreneurship Administrator admin

    If you received an advance from the EIDL loan, that amount will be deducted from the forgivable portion of the PPP loan. There is a line on the forgiveness form that asks if you received an EIDL advance, and the amount.

  • Zara123Zara123 Member Member

    Thank you Brian!
    I understand that the advance will be deducted. My question is - may i accept a EIDL loan (already approved for by SBA) and will this affect the forgiveness application on my PPP loan.

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