Notes to SEFA
In 2020, Cornerstone applied for and received an Economic Injury Disaster Loan (EIDL) from the Small Business Administration in the amount of $150,000. In January 2022, Cornerstone applied for and received additional funds on this loan in the amount of $1,850,000. In August 2024, Cornerstone returned $1,000,000 of the funds received to the Small Business Administration. This loan matures in July 2050 and has an interest rate of 2.75%. The Balance of this loan at December 31, 2025 is $872,204. The proceeds of loans that were received and expended in prior years are not considered federal awards expended when the laws, regulations and the provisions of contracts or grant agreements pertaining to such loans impose no continuing compliance requirements other than to repay the loans and have been excluded from the Schedule and the notes to the Schedule.