Business Structure Change
Has anyone here sought approval from the SBA changing from a sole proprietorship to an LLC/ S Corp post EIDL Loan?
Posted Dec 6, 2022, 6:41 PM UTC
86
F*CK the SBA. From what I’m reading it seems we may have another wave of COVID soon and maybe lockdowns imposed again. I would love to see how they handle things this time if indeed this does happen.
0
Where is this info from?
1
Yeah you crazy if you think this country will withstand another lockdown.... It's not going to happen pal.
1
That should not be an issue, as long as the ownership is not changing. Just contact the loan servicing center that's responsible for your loan, and ask them what information they need from you before you make the change.
Thanks! I did call SBA. It was a good call with a Lead Loan Specialist. He sent me an email with an application and list of 10 documents to be submitted to them. Understandingly so, it does not change the terms of the EIDL contract…that wasn’t my intention. I’m just getting slammed on SE taxes.
But, you’re correct, it doesn’t look like a problem.
👍🏻😎