I also have received EIDL funds and have followed the steps you outlined.  My question now is what should the Balance sheet and chart of accounts look like?  The loan is not showing as a liability on my balance sheet but instead shows as $0.  Also, on the chart of accounts, the loan shows as $0 and Opening Balance Equity shows the loan amount.  Is this correct? We have not spent any of the funds yet.  We have only received funding for the loan.