Personal hardships (cancer) and an EIDL loan.
Hello everyone,
My wife and I have had our business (restaurant) for almost 30 years. We have an Eidl loan we took out during Covid to keep our crew employed, doors open etc. The loan is for 200k, no PG that I can see in the paperwork. My wife has been diagnosed with Stage 3 Ovarian cancer a few months back. We’ve gone through surgery and now chemo. We have a great crew but do not see this continuing for the long term. We need a break, start over, etc. after all the dust settles. Has anyone dealt with the SBA in this type of situation? Any advice, comments, etc. are appreciated. It’s been a tough road and we’re not sure where everything is headed. Obviously with the medical bills incoming it is even more taxing. Our loan is not in default though we usually are a few weeks behind at this point with payment. Nothing past 30 days. Thanks for any help!