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PPP same as EIDL?
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JR B
Posted 1/17/2021 08:23 (#8757720 - in reply to #8757548)
Subject: clarify please


Linneus Mo.
If you use this program and you are a schedule F 1040 filer Does the money just get used to refinance the original EIDL loan? That is the part that seems difficult to understand to me. Or does it mean that if you took the EIDL that now you must subtract the original EIDL loan from this amount and you are left with what is left?

Example.
You take an EIDL for 20,000 back last summer
New program says you qualify for 20,800

Therefore you get 800 bucks.
Is that right?

The confusion mounts !
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