$10,000 EIDL GRANT

Maybe it will maybe it won’t. I haven’t heard of anyone going out of business. Just getting gov money and waiting. If most of it’s forgiven then they’ll be right back at it soon as things open.

 

Be nice to know what and how china is doing.

Don't hear about them anymore. Other then their numbers climbing again.

 

The only people that got the money last time are the publicly traded companies in bed with the big banks.

Even states and colleges took a handout for their pensions.

The little people got royally screwed.

 

At $600 per week from Covid 19 fund, plus few hundred from your state, o/o can survive for quite a few months if they don't have $3000 truck payment, $1000 trailer and $1500 monthly insurance.
Now if you are a 5-500 trucks company with payments on all equipment, the things will be very tough.
I already know of two local 1099 companies both removing all the trucks from their insurance, just to keep MC active. One is so strapped for cash, they did not even have money for fuel to bring all their 40 trucks home.
Another one is in better position, since over 50% of their trucks were o/o

 

“One other point I'll make is this, my payroll (through my S-Corp) is made up of a combination of W-2 & Per Diem. I also take S-Corp distributions throughout the year. I do this this lower my tax liability. I was able to document each of those items from my QuickBooks account and provide a 12 month average for the underwriter. They accepted that.”


Can you explain these terms more clearly for me?

 

When you open another new business, before the opening,spend half a year on a forum, read, learn and ask questions. You will be much better prepared, than you are now.