SBA EIDL Loan

9 Months Ended

Sep. 30, 2021

Long Term Liabilities

SBA EIDL Loan

NOTE 5 – SBA EIDL Loan

On June 9, 2020, the Company received an Economic Injury Disaster Loan from the Small Business Administration in the amount of $35,600. The loan has a term of thirty years and an interest rate of 3.75% per annum. Payments in the amount of $174 monthly will begin twelve months from the date of the note. During the quarter ended September 30, 2021, the Company paid $700. As of November 11, 2021, the Company was current on its repayments.

On April 30, 2020 the Company received a grant from the Small Business Administration in the amount of $3,000.