Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

1,409
Posts
857
Votes
Daniel Dietz
  • Rental Property Investor
  • Reedsburg, WI
857
Votes |
1,409
Posts

COVID-19 EIDL "Non-Recourse" Loans for SDIRAs & SOLO401Ks?

Daniel Dietz
  • Rental Property Investor
  • Reedsburg, WI
Posted

Looking to see what you experts out there think of the 'legality' of the following. 

I have been working on the CARES Act paperwork to help my 'day abusiveness' to keep things afloat with both the PPP Program and the EIDL Program.

As for my real estate investing business(s) I hold properties in both a 'regular cash LLC' and also 2 other LLCs, that are owned by my SDIRA and my SOLO401K. I know in regular times that loans for those second two always need to be 'non-recourse'.

While reading over the paperwork for the EIDL Loan Program, I see that loans up to 200K are 'non recourse'.

Would there be any 'prohibited transactions' or other issues with have those LLCs for the self directed accounts apply for this type of loan?

Thanks, Dan Dietz

  • Daniel Dietz
  • [email protected]
  • 608-524-4899
  • Loading replies...