Eidl Loan Forgiveness For Sole Proprietor In Miami-Dade

State:
Multi-State
County:
Miami-Dade
Control #:
US-00193
Format:
Word; 
Rich Text
Instant download

Description

The EIDL Loan Forgiveness for Sole Proprietor in Miami-Dade form serves as an essential document for small business owners seeking to gain forgiveness on loans obtained through the Economic Injury Disaster Loan (EIDL) program. This form is specifically structured to guide sole proprietors in Miami-Dade to provide necessary information to the Small Business Administration (SBA) for loan forgiveness consideration. Key features of the form include sections for detailing the loan amount, terms of repayment, and any collateral agreements. Filling instructions specify the need to accurately record personal and business information, ensuring compliance with SBA requirements. The form also outlines that signing it signifies acknowledgment of the obligations tied to the loan. Target audiences such as attorneys, partners, owners, associates, paralegals, and legal assistants will find this form useful in representing clients who are eligible for EIDL loan forgiveness. Legal professionals can guide clients through the completion process, ensuring that all sections are correctly filled out for optimal chances of forgiveness. Using this form appropriately can help sole proprietors alleviate financial burdens, thereby supporting local economic recovery in the Miami-Dade area.
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  • Preview Assumption Agreement of SBA Loan
  • Preview Assumption Agreement of SBA Loan
  • Preview Assumption Agreement of SBA Loan

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FAQ

As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.

COVID-19 EIDL is not forgivable.

There is no provision for forgiveness on these loans, nor should anyone expect that there will be. The EIDL is a decades-old program, and if they forgive loans for this particular disaster, then borrowers for every other EIDL program are going to expect forgiveness on their loans as well. It's not happening.

The Florida Disaster Fund distributes funds to service organizations that will serve individuals within their communities with disaster response and recovery. If you have additional questions about the Florida Disaster Fund, please call (850) 414-7400 or email info@volunteerflorida.

You must apply for forgiveness directly with the SBA using their online portal. Click here to apply for forgiveness now. When do I need to apply for forgiveness? You have 10 months after the end of your Covered Period to apply for forgiveness.

There is no provision for forgiveness on these loans, nor should anyone expect that there will be. The EIDL is a decades-old program, and if they forgive loans for this particular disaster, then borrowers for every other EIDL program are going to expect forgiveness on their loans as well. It's not happening.

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Eidl Loan Forgiveness For Sole Proprietor In Miami-Dade