$10,000 EIDL GRANT

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

Page 35 of 133
  1. Apr 21, 2020 #341
    Scooter Jones

    Scooter Jones Road Train Member

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    No one ever doubted your coolness :cool:
     
    Scooter Jones, Apr 21, 2020
    Scooter Jones, Apr 21, 2020
    #341
    Rideandrepair and TallJoe Thank this.
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  3. Apr 21, 2020 #342
    TallJoe

    TallJoe Road Train Member

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    I think as long as we are talking about 4-6 months only, all will be good. I mean most people can live off $800-1000 per week for up to a year. They should...I hope.
     
    TallJoe, Apr 21, 2020
    TallJoe, Apr 21, 2020
    #342
    Rideandrepair and Scooter Jones Thank this.
  4. Apr 21, 2020 #343
    Rideandrepair

    Rideandrepair Road Train Member

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    That’s right, I applied for Unemployment, had a week off. Now working. I can make it on $2000 a week, after fuel costs, if needed. Anything more, I’m better off working. Either way, I’ll still be cool! Lol, I’m an American, we invented Cool.
     
    Rideandrepair, Apr 21, 2020
    Rideandrepair, Apr 21, 2020
    #343
    Blackhorse77 and Scooter Jones Thank this.
  5. Apr 21, 2020 #344
    Rideandrepair

    Rideandrepair Road Train Member

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    I’ll update my enemplyment progress, ( if there is such a thing,Lol) Might need a combination of both. Don’t know what’s allowed yet. I see some applying for unemployment and loans. Don’t know how that works. My luck it would end with a set of handcuffs. Don’t need that. Rather work at Mcds. and be free.
     
    Rideandrepair, Apr 21, 2020
    Rideandrepair, Apr 21, 2020
    #344
    BoostedTeg and DUNE-T Thank this.
  7. Apr 21, 2020 #345
    Scooter Jones

    Scooter Jones Road Train Member

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    The PPP money doesn't HAVE to be used for payroll. However, if at least 75% of it is used for payroll OR the other line item expenses I listed a couple of pages back, the whole amount is forgiven if it's used within the 8 week period.

    There is nothing in the 1% interest PPP loan that I signed which compels me to use the money for payroll, etc.

    Only that if it's not, I have to repay the money at 1% over a 2 year period with the first payment due 6 mos after the 8 week period ends.
     
    Last edited: Apr 21, 2020
    Scooter Jones, Apr 21, 2020
    Scooter Jones, Apr 21, 2020
    #345
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  8. Apr 21, 2020 #346
    JonJon78

    JonJon78 Road Train Member

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    So what happens when some of these O/O or couple truck operations recieve a loan from the SBA, and freight continues to be scarce for several months?

    The bills still keep coming, the money coming in isnt cutting it, and the loan money has been used up...

    What's the next course of action?
     
    JonJon78, Apr 21, 2020
    JonJon78, Apr 21, 2020
    #346
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  9. Apr 21, 2020 #347
    Rideandrepair

    Rideandrepair Road Train Member

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    Bankruptcy
     
    Rideandrepair, Apr 21, 2020
    Rideandrepair, Apr 21, 2020
    #347
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  10. Apr 21, 2020 #348
    Rideandrepair

    Rideandrepair Road Train Member

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    I don’t think freights going to be slow for several months. Maybe 2 or 3. But pent up demand, and produce should kick in.
     
    Rideandrepair, Apr 21, 2020
    Rideandrepair, Apr 21, 2020
    #348
    Blackhorse77 and JonJon78 Thank this.
  11. Apr 21, 2020 #349
    Scooter Jones

    Scooter Jones Road Train Member

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    They sign up with Mercer?
     
    Scooter Jones, Apr 21, 2020
    Scooter Jones, Apr 21, 2020
    #349
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  12. Apr 21, 2020 #350
    JonJon78

    JonJon78 Road Train Member

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    LOL. That was a good one!!!
     
    JonJon78, Apr 21, 2020
    JonJon78, Apr 21, 2020
    #350
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