So I certainly hope this doesnt apply to any company that has been fully funded by both EIDL and PPP
I didnt apply for PPP as a single member LLC..remodeling, all we use are subs…didnt allow me to retain my guys or help them out..
I certainly would have if I would have known I could get 1% operating expense loan for 2 years.
There are literally millions waiting on EIDL loans @3.75 %
Shouldnt EIDL applicants also get the option of a 2 yr loan at 1% ……not with a 150k cap?
Some companies literally could have gotten 2 million bucks …and if this passes would then get to use a million on operating expenses…and anyone who didnt apply only 150k at 3.75%
PPP has no collateral or personal guarentee and there is no minimum credit score…unlike EIDL…
I’ve also read some republicans have joined in to support this change..