SBA Provides Guidance on Using PPP Loan Proceeds to Refi EIDLs

SBA Provides Guidance on Using PPP Loan Proceeds to Refi EIDLs

ABA Banking Journal

The Small Business Administration issued a procedural notice on Friday night providing guidance on using Paycheck Protection Program loan proceeds to refinance an SBA Economic Injury Disaster Loan, as well as providing instructions for PPP lenders on the procedure for remitting to SBA any PPP loan funds designated for an EIDL refinance.

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