$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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    At this point, I've got a couple more sandbags to add to the storm wall and that's it for now.

    I've made every provision and have been as proactive as I can to prepare. I'm pretty well positioned through the end of the year, both business & personal.

    I keep my eye on available loads throughout the day. I know that others mileage may vary and I rejoice for those that are still rolling profitably. However, it does me no good to roll my truck & trailer out of the driveway for the rates that are currently available on my lane.

    Until then, I'll wait it out and see how things shake out here in the near future.
     
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  3. Scooter Jones

    Scooter Jones Road Train Member

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    From that article, notice this section regarding the EILD program.

    Screenshot_20200415-181241.png
     
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  4. x1Heavy

    x1Heavy Road Train Member

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    Bossman used to send us home for winters. No farm or blacktop until it warms up again. 5 months on the State Unemployment.

    IF he did park all of it today and sent us home to wait out the storm with Covid he would too. It does not hurt him none. Considering the reserves he has built up in life.
     
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  5. Midwest Trucker

    Midwest Trucker Road Train Member

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    It’s taken me years to acquire the group of people I have. It’s not easy to just idle my operation. I’d still have probably 20k a week in expenses and no guarantee my drivers would still be there when it was time to go. It’s just too risky at this point.

    Right now we are staying loaded. Not always the best freight but we’re still profitable. I’m a Haz carrier which helps and I have vans and reefers to run whatever I need to. I also have the little brokerage which I can’t let my customers down there either.

    I used to broker most of my customer freight and then scalp the spot market as hard as possible. Now those 15 loads or so per week I’m putting exclusively on assets and filling the gaps with spot the other 40 loads or so per week.

    It’s not easy right now but we’re hanging in there. I’m not saying we’re working harder then ever because we always work harder then ever. Just got to make things happen some how.

    I have a couple seats open and I’m hoping to use this time to add long term drivers and as of today I’ve started to look for a couple owner ops that I can bring on and help them make it through this. The timing should be good on those aspects and we can kill it more then ever on the bounce back. It’s all about positioning the company.

    Lastly, I’m not one that typically (never) relies on help, so I really don’t want to get money from the government if I can help it. Maybe it’s pride, maybe it’s stupidity.

    We’ll see how she goes my friend. That’s the best way to answer your post I can do right now.
     
  6. petrolK9

    petrolK9 Light Load Member

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    I'm heading out on the road. I like to stay anonymous so won't give any details, but it is contract freight. The company has been bidded down during all of this but they're still getting better rates than the load boards.

    I'm not going to brag that all is going to be great. There's no way to tell. But I'm going to keep working and keep the wheels turning for now.

    Survival mode planned for two years, hope it doesn't last that long.
     
  7. Wespipes

    Wespipes Road Train Member

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    Well I woke up to an extra 1,000 in my business account.
     
  8. Scooter Jones

    Scooter Jones Road Train Member

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    Which should be followed up with a loan offer in writing from what I've been reading. From the article I posted yesterday, the EIDL fund requests are at 383 billion dollars. The congress only aprroved 17 billion for EIDL though.

    I'll be interested to start reading about what businesses are being offered in relation to the annual revenue number one is asked to list on the application.
     
  9. Rideandrepair

    Rideandrepair Road Train Member

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    Has anyone reduced insurance coverage? I did it once, while off for a while. Can’t remeber the details, it’s been 11 yrs ago. Don’t really want to call them,and raise a red flag, or my Bank for that matter. I did that 11 yrs ago, the only help I got was my credit line cut in half. Looks like the moneys already gone. I could almost live on unemployment if I had to. Biggest problem is Public Liability, equipments paid for.
     
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  10. Scooter Jones

    Scooter Jones Road Train Member

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    I've been hearing that major auto insurers are reducing people's rates for a short period automatically, anywhere from 10 to 20 percent pro-rated on a 2 to 3 month basis and sending refund checks to customers.
     
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