For what's it's worth. Received this email from the SBA today. Pretty much confirms what became apparent a few days after their initial debacle of a roll-out of the EIDL. My first post was NOT to demonstrate that I was all "excited" about getting a $10,000 grant in 3 days, it was to essentially mock the fact that the gubmint was in no way going to deposit $10,000 into small businesses checking accounts within 3 days! What I wrote about later regarding the fact a 1 man operation would only get a $1,000 advance is born out in this email.
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$10,000 EIDL GRANT
Discussion in 'Ask An Owner Operator' started by Scooter Jones, Apr 3, 2020.
Page 12 of 133
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1000 wont even fill both tanks for a days work. Will it?
Do I go out on a limb and call this vapor ware?
Birdies are singing of foreclosing based on 2 million plus who are about to lose their properties.
10,000 or 1,000 or whatever would be just a drop that evaporates in the heat of day before it does any good.Rideandrepair Thanks this. -
They can’t forclose on everyone. It would eclipse the last debacle. I called today, 90 day forebearance, per Federal Law. Possible deferral, ( rework, putting 3 pymts on back of loan) at end of 90 days. No guarantees yet. Tricky bussiness, hate to get behind. But it might get that close around here. I’m not like all these other rich O/Os. The ones with all the paid off property, and Brand new Trucks paid for in cash. You know all the ones that seem to disappear in times like these.
sealevel, adayrider, Scooter Jones and 2 others Thank this. -
"PARKIT, GO HAME, Play with the kids. come back next month."
and that would be that. And he would do it too. He valued families over all else.Rideandrepair and Tug Toy Thank this. -
But please @Rideandrepair let us know when that 10k shows up in your account LOLTug Toy, Rideandrepair and x1Heavy Thank this. -
Half of our state is power destroyed to 120,000. I like to see THEY deposit that. -
x1Heavy and Rideandrepair Thank this.
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90 days. They didn't spell out the terms online. They did, however, make it clear they would order an appraisal and the borrower would have to pay for it BEFORE the forbearance was allowed.
I don't think the feds are going to go for that under the circumstances.Tug Toy, x1Heavy, Big_D409 and 1 other person Thank this.
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