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FWIW I got my banker up pretty hard since I can apply tomorrow.
I asked him if I apply for the PPP through him if it kicks me out of an EIDL loan. My business a couple months payroll is pretty immaterial in terms of expenses. And depending on how this shakes out payroll might be the easiest check for me to cut. What he told me is you can still apply for the EIDL you just can’t use those expenses.
He also said their guidance is that they don’t need any “packagers” whatever that means and you should apply through the website.
Take that for what it’s worth. There is nothing saying my banker is any sort of right here but that’s what he told me.
I’ll probably take a look at the EIDL application first. If it looks more promising I may forego the PPP loan.
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