On April 15, 2020, I applied for an EIDL, for $9.8K. Today, I got an email from the SBA asking me to create an account on their site:
"SBA logo"
"Create your SBA Economic Injury Disaster Loan Portal Account"
"Your SBA Application No. xxxxxxxxxx is ready for the next step. Create your SBA Economic Injury Disaster Loan Portal account to provide additional details or requested documents. " "Create Account"
I created and account, and found that they were offering $6.0K as a 30 year.
3.75%, 30 year loan. I could choose anywhere between $0 to $6.0K to accept. I did not want a loan.The EIDL, as described on the SBA site, does not require the first $10.0K advance to be repaid.
There was a link to ask questions, which I did. Why $6.0K and why a loan? I don't expect anything to change, but am interested in the answers. I consider this a dead end, now.
Did I not understand the original terms, or is this bait and switch?