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I have a sba7a construction loan am I eligible for EIDL program

Oregon

Hello my name is Sam living in Portland or building new gas station with sba 7a construction loan : Am I eligible for EIDL.

2 replies

May 20, 2020
An applicant cannot obtain both a 7(a) SBA loan and EIDL for the same purpose. Under the CARES act, the SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for current 7(a) loans. Borrowers do not need to apply for this assistance. It will be automatically provided.
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May 20, 2020
Does the 6 month assistance count for construction loans that have not been fully paid yet?
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