SBA Loan-EIDL: working capital

[Jarrod Murrell]

I recently received my SBA relief loan, and was reading through the terms. The loan is to be used for working capital, and i have some questions as to how far the use could really reach. Does anybody know if the loan, intended for working capital, be included to do a remodel/update of a property? In other words, could a property upgrade be included as working capital needs and such? Appreciate any and all input, thank you in advance.

Jarrod M.

[Kory Reynolds]

My interpretation for these loan programs would be to lean on the conservative side, working capital would be ongoing operations. IE paying your utilities, regular maintenance and upkeep, etc. I would be cautious about using the funds for upgrades and improvements. If you are using the funds for upgrades, in my opinion, it really calls into question if you applied for the loan in good faith that you needed the money to keep your operations afloat.