SBA: Refinance of EIDL Loans with PPP Loan Proceeds and Lender Remittance of EIDL Refinance Proceeds to SBA
The purpose of this Notice is to provide guidance for when Paycheck Protection Program (PPP)
loan proceeds must be used to refinance U.S. Small Business Administration (SBA) Economic
Injury Disaster Loans (EIDL) and to inform PPP Lenders of the procedure for remitting to the
SBA any PPP loan proceeds designated for the refinance of an EIDL.