Hi Everyone,

Has anyone gotten good information around how the EIDL loan can be used? I've seen some stipulations, but they generally have the disclaimer "other operating expenses" that would have been paid if the disaster had not occurred.

We were planning to fence the backyard this summer so it can be used as Daycare space. Since moving into the home we haven't been able to use it due to a pond off of our property, but too close in proximity to the yard for NYS to allow. When this hit, we decided to hold off and save money just in case, but we would consider using an EIDL for it if possible.

Then there's the question of the future as the EIDL is a 30 yr loan and one would hope we're out of this by then. In 5 years are there stipulations still how the balance can be used?

Thanks for any suggestions!

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