EIDL Loan

I'm trying to set up an EIDL loan that has deferred payments with accuring interest. I can't find a way to to this. Any ideas?

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    It would have helped if you had spelled our Economic Injury Disaster Loan (loan) so that I didn't have to look it up.
    BUT, to answer your question, it there's truly no payments (but, presumably you still get statements), I'd just input the imputed interest manually into the account until you actually start making payments.
    If I've misunderstood the loan, please inform me of it's attributes.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • benb408
    benb408 Member
    Sorry about that, yeah economic injury disaster load. Nice big acronym. Standard disbursement loan with 30 months no payments bug negative amortization on interest. Don’t see any way either to have quicken do it automatically.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    OK, so those negative amortization interest amounts get recorded in the loan register as charges until you start paying the whole thing down ... probably with more interest charges also added in at that time.
    BTW, may I ask what your Economic Injury was?
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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