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  • Writer's pictureAmi Kassar

AmiSight 10/1: Don’t Fall for an EIDL Consultant

We have been getting a couple of dozen requests a day from business owners asking to hire us to help them get an EIDL Loan. Of course, we gracefully decline, and so should you when someone says they are an expert and can help you get an EIDL Loan.


There is no need to hire someone to help you other than possibly needing a few questions answered by your CPA. Once you submit a reasonably straightforward application, you are then at the mercy of the process or where you fall into the system or what office lands up processing your application.


It’s like winning a lottery ticket!! And if you wanted to hire a consultant to help you pick the right lottery ticket – please unsubscribe from this feed. 😊

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2 Comments


Rebecca Schultz
Rebecca Schultz
Oct 01, 2021

Agree with Ami! Your local Small Business Development Centers (SBDCs) have people to help answer questions, and you can go directly to SBA for feedback on why an application was declined. There is no need to hire a specialist for an EIDL loan. People that state they can and will do this for you are people I would not want to do business with.

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Alan Pentz
Alan Pentz
Oct 01, 2021

Ami, we were told by our CPAs that EIDLs come with a covenant that doesn’t allow for distributions beyond tax payments. Is that true and is it true not matter how small or large the loan amount is?

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