$10,000 EIDL GRANT

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

  1. Scooter Jones

    Scooter Jones Road Train Member

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    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.

    SBA Page 1.JPG SBA Page 2.JPG
     
    Last edited: Apr 13, 2020
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  3. Rideandrepair

    Rideandrepair Road Train Member

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    Thanks Scooter, you’re about the only person trying to figure this stuff out.
     
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  4. x1Heavy

    x1Heavy Road Train Member

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    Hear hear.

    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.
     
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  5. Rideandrepair

    Rideandrepair Road Train Member

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    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.
     
  6. x1Heavy

    x1Heavy Road Train Member

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    I think back to Pappy. He was a old driver. and for the short time I was with him a huge influence. I think hes passed on by now most certainly based on age. But if he was alive today facing this industry with 8 trucks, a small shop office situation on a few acres into freight that cannot pay the keep of the older trucks or even pay the drivers I think he would have slammed a fist on the table.,

    "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.
     
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  7. Scooter Jones

    Scooter Jones Road Train Member

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    Thank you. I've tried to report the information accordingly, especially when it's firsthand experience. I'll keep posting as such.

    But please @Rideandrepair let us know when that 10k shows up in your account LOL
     
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  8. x1Heavy

    x1Heavy Road Train Member

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    Treasurer insissts 80 million will get their mony by wed electronically.

    Half of our state is power destroyed to 120,000. I like to see THEY deposit that.
     
  9. Scooter Jones

    Scooter Jones Road Train Member

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    Yeah, I think you're referring to the $1200 stimulus money?
     
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  10. Rideandrepair

    Rideandrepair Road Train Member

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    The only way that 10k is showing up, is if I take a cash advance from my last line of credit. I’ve always floated the note through past tough times. Surgery, accident, etc. Play catch up later. This is no different, I can tell already. Except this time when my credit runs out, I won’t run like a Dog trying to hang on to everything I have. I’ll gladly hand it over, let them choke on it. Adjust my lifestyle, and maybe finally do some fishing. Life’s too short. Been working overtime since age 15. Too old to even worry about it anymore. It’s futile.
     
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  11. Scooter Jones

    Scooter Jones Road Train Member

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    Yeah, I visited my mortgage servicer website today. My loan is underwritten by Fannie Mae. So, I thought I'd read what they are offering regarding forbearance.

    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.
     
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