SBA Changes EIDL Loan Collateral Requirements (More Flexible Lien on Your Assets)

The SBA send letter to business that received an Covid-19 EIDL Loan to let them know that they made a change on the EIDL loan collateral requirements.
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The SBA is sending out a letter to business that received an EIDL loan of over $25,000, letting them know that they made an amendment to the EIDL loan contract to change a key point in EIDL loan collateral requirements.
Business still have to ask written consent from the SBA if they want to sell or transfer ownership of their assets that the SBA has as collateral towards the SBA EIDL loan.
Business can now look for further financial help and use its assets as collateral without having to ask for written consent from the SBA. This allows business to seek further financial help and be able to use its assets as collateral.
#eidlcollateral #eidl #eidlloan #sba #sbaloan