The principle for these loans does not change. -If your client is cash basis the deferred interest is taken when it is paid. This leaves you with a daily interest "bill" to EIDL / SBA / Whomever "Loan Interest" because the interest does not i...
Businesses that received an Economic Injury Disaster Loan (EIDL) as a result of the COVID-19 pandemic could use funds to pay fixed debts, payroll, accounts payable, and other bills that can’t be paid due to the disaster. Rates forSBA EIDL loansare different than rates for other SBA Disa...
The principle for these loans does not change. -If your client is cash basis the deferred interest is taken when it is paid. This leaves you with a daily interest "bill" to EIDL / SBA / Whomever "Loan Interest" because the interest does not incre...