An EIDL loan is one issued by the SBA for economic injury development. These loans were issued after PPP loans to businesses that had suffered economic injury. However, unlike PPP loans, these loans must be repaid by borrowers.
Many clients are calling about defaulted EIDL SBA Loans, the consequence of those defaults and remedies for those defaults.
Shenwick & Associates has experience dealing with defaulted SBA loans and we have published 3 articles on our blog regarding these defaults.
One post involves EIDL loans and bankruptcy, which can be found at http://shenwick.blogspot.com/2022/07/eidl-loan-workouts-and-bankruptcy.html
A Second post pertains to defaulted EIDL loans and the SBA Offer in Compromise program. That post can be found at http://shenwick.blogspot.com/2022/07/eidl-loans-and-sba-offer-in-compromise.html
A Third post is about EIDL loan defaults and document review for those defaults. That post can be viewed at http://shenwick.blogspot.com/2022/07/eidl-loan-default-document-review.html
Clients or professionals with questions about defaulted EIDL loans should contact Jim Shenwick, Esq. email@example.com 212-541-6224