Obtaining an SBA loan when there is an EIDL loan in place?

by a searcher

9 months ago

Working on a partial buy-in to a business where there is an EIDL loan in-place. I am told this can be solved with a subordination agreement. Does anyone have experience with this?

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professional from Babson College - F.W. Olin Graduate School

Yes - the SBA lender will just write the SBA to subordinate the EIDL - it’s easily done and the SBA does not want a EIDL to prevent new SBA money from being lent. Make sure you work with a SBA lender with PLP status and I highly recommend Fran at Multifunding.

9 months ago | like reply | 0 likes

admin from Massachusetts Institute of Technology - MIT Sloan School of Management

^Searchfunder member‌ have previously commented on EIDL in the past and might be able to share some insights with you here. Thanks in advance for helping when you can! :-)

9 months ago | like reply | 0 likes

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