Updated over 5 years ago on . Most recent reply
EIDL and physical repairs
I'm not sure exactly where to post this question but here it is, I was one of the fortunate ones to be granted an EIDL from the SBA. There's a clause that says it can't be used for physical repairs which makes sense if you have a brick and mortgage store/office but in our case as rental property owners, can I use the loan funds for a repair such as a gutter replacement??? I haven't called the SBA, kind of afraid to get an answer from someone who doesn't really know the answer. Hopefully someone can provide some information here that I can use when I do call the SBA. Thanks in advance!
Most Popular Reply
@Jay Y.
No idea who phelps.com is, but call the SBA as opposed to going off these 3rd party sites. I'm learning each day that no one seems to really know what the funds can be used for because there are sooo many scenarios. In fact, I just had a conversation with an SBA agent yesterday who told me the funds CAN be used for "normal repairs" that are part of a normal business operations. When in doubt, if you're not sure about something, just call them and ask if it's approved...and document what you're told.



