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$10,000 EIDL GRANT

Discussion in 'Ask An Owner Operator' started by Scooter Jones, Apr 3, 2020.

Page 89 of 133
  1. May 20, 2020 #881
    TallJoe

    TallJoe Road Train Member

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    I'll keep paying myself the same salary/write the same checks as in 2019 . I used 2019 as the basis for PPP loan.
     
    TallJoe, May 20, 2020
    TallJoe, May 20, 2020
    #881
    Rideandrepair Thanks this.
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  3. May 20, 2020 #882
    Scooter Jones

    Scooter Jones Road Train Member

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    Probably not a bad idea.
     
    Scooter Jones, May 20, 2020
    Scooter Jones, May 20, 2020
    #882
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  4. May 20, 2020 #883
    Midwest Trucker

    Midwest Trucker Road Train Member

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    78B72402-6272-4C08-BEE6-C05EC89DCD26.jpeg It will NOT stop raining! My belly is full of this gov milk. I can’t get enough of this tit though. Can’t stop won’t stop. lmao
     
    Midwest Trucker, May 20, 2020
    Midwest Trucker, May 20, 2020
    #883
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  5. May 20, 2020 #884
    TallJoe

    TallJoe Road Train Member

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    Kinda feels good.
     
    TallJoe, May 20, 2020
    TallJoe, May 20, 2020
    #884
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  7. May 20, 2020 #885
    Midwest Trucker

    Midwest Trucker Road Train Member

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    Haha I know. Once I got past the pride part it’s kinda nice! I’m still justifying it as I’m just getting back some of my tax money from years past. ;)
     
    Midwest Trucker, May 20, 2020
    Midwest Trucker, May 20, 2020
    #885
  8. May 20, 2020 #886
    Rideandrepair

    Rideandrepair Road Train Member

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    No, I don’t think so, it just said that as of May 5th, SBA excluded the EIDL advance amount from the forgivable amount of the PPP. How all that shakes out, I don’t know. I just mentioned it, since it was something new I read.
     
    Rideandrepair, May 20, 2020
    Rideandrepair, May 20, 2020
    #886
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  9. May 20, 2020 #887
    Rideandrepair

    Rideandrepair Road Train Member

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    I think it has more to do with the ability to pay the refinance the actual EIDL loan with the PPP, for forgiveness purposes, the advance portion of the EIDL can’t be included.
     
    Rideandrepair, May 20, 2020
    Rideandrepair, May 20, 2020
    #887
  10. May 20, 2020 #888
    Scooter Jones

    Scooter Jones Road Train Member

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    This is what the spreadsheet calculation totals look like on the SS my bank gave to me when they funded the PPP.

    EIDL SS.JPG
     
    Scooter Jones, May 20, 2020
    Scooter Jones, May 20, 2020
    #888
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  11. May 20, 2020 #889
    Scooter Jones

    Scooter Jones Road Train Member

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    Once again, even if what the average 1 man operator gets as an EILD advance has to be refinanced on the PPP side, you're looking at $1,000 at 1% over 30 mos.

    Not exactly breaking the bank ;-)

    1K.JPG
     
    Scooter Jones, May 20, 2020
    Scooter Jones, May 20, 2020
    #889
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  12. May 20, 2020 #890
    Scooter Jones

    Scooter Jones Road Train Member

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    I heard a financial guy on the radio last week saying that the applications for the second round of PPP had slowed way down. His feedback was that it was due to a lot of fearmongering and isolated stories of abuse being promoted in the news cycle. A lot of small business people backed off for fear of doing something wrong and being punished for it, and just decided it wasn't worth it.
     
    Scooter Jones, May 20, 2020
    Scooter Jones, May 20, 2020
    #890
    Rideandrepair Thanks this.
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