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Updated over 3 years ago on .

Bikash Chhetri's profile image
Bikash Chhetri's profile image
Bikash Chhetri
  • Flipper/Rehabber
  • from Atlanta, GA
  • Member since Jan 27, 2019
Connect

User Stats

8
Posts
3
Votes
Bikash Chhetri's profile image
Bikash Chhetri's profile image
Bikash Chhetri
  • Flipper/Rehabber
  • from Atlanta, GA
  • Member since Jan 27, 2019
Connect
Bikash Chhetri
  • Flipper/Rehabber
  • Atlanta, GA
3
Votes |
8
Posts
General Real Estate Investing

Is SBA EIDL loan an asset? Can I purchase houses for investment?

Bikash Chhetri
  • Flipper/Rehabber
  • Atlanta, GA
Posted

I received a EIDL loan( Economic Injury Disaster Loan) from SBA and I am in the process of purchasing a single-family home in Georgia however the lender said that I can’t use EIDL loan for down payment because it’s not considered an asset. Can someone point out to me how to use this loan to purchase assets? Or other avenues to use this loan. I am a real estate agent and an investor in GA. TIA.

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