The Funding University | Where Business Learns About Funding
Business:Investing
TFU 033: Seth Block: You took out an EIDL loan during Covid and now you need new funding. What do you do?
2023-05-02
During the Covid-19 pandemic, the US Government created EIDL loans through the SBA, which were designed for small businesses. With low-interest rates and 30-year terms, these loans were created to help small businesses stay afloat during the pandemic’s economic slowdown. The loans required the SBA to put a perfected security interest lien in place against a company’s assets, meaning no other lender could use your company’s assets as collateral. This creates a problem when you need more funding from other sources. Join Seth Block as he discusses strategies to keep your SBA loan in place while renegotiating your SBA-encumbered assets to help you grow.
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The mission of The Funding University is to Enable Funding around the world. Hosted by Seth Block, CPA.
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