AmiSight 9/9: You Can Still Get a Line of Credit with Your EIDL Loan in Place

I was struck to hear two stories of business owners whose local banks turned down Lines of Credit because they have a COVID-19 EIDL Loan.

Their bank is making an excuse! While it is likely that their bank wants to have a first lien on company assets in exchange for the line of credit, they can easily request from the SBA that they subordinate their lien position.

So, if your bank is giving you the EIDL excuse, find another one—and don't listen to your banker!

We hope you can also join us tomorrow for my latest webinar "Managing in Uncertain Times: Playing Defense & Offense," at 12pm EST. Click here to register!

This Thursday, we have "How to Save Time & Money with AI Today" with Nicole Donnelly at 12pm EST. Click here to register!

Want to see what else we have planned this month? Click here to explore our full schedule.