$10,000 EIDL GRANT

I have not received an offer yet. I have an 800 score too and and very little debt as well. I’ll let you know if and when I receive an offer too. I filed on the Monday after it opened and received the original allocation a few weeks ago.
Interesting

 

I’m also a s Corp. I don’t know where I got schedule c from. Tinking of k or something. Either way, I’ll need my 2019 taxes filed, before I can apply. I keep telling Myself, relax, things usually work out better eventually. It’s usually true. I think I still have time.

 

Well as much as I hate to borrow money, $25k at 3.75% for 30 yrs. costs $93 a month. I could pay off other debt, that is basically being serviced now at a higher rate. Either way, I have the debt. I won’t live long enough to ever pay it back. Probably be paying it with my SS check, soon enough. It’s a no brainer, still I don’t like long term debt. Short term, high interest, sometimes costs less. Depends on how it’s used, and each persons circumstances. Still higher than a Mortgage at current rates. It’s just too easy, to service it forever. Not sure I want that. Things can happen, can’t risk bankruptcy at my age. In the past, Id be leveraging left and right. But the old adage “ You can’t borrow your way out of debt” comes to mind.

 

Yeah, I understand that. I have been fortunate not to have this affect me much. Was thinking about it to hedge against uncertainty but that just seems wrong. Just makes me wonder how many people in my shoes took the money hoping for a grant. Everyone's operation is different and I most certainly have been blessed.
Just has me in a interesting place where I am standing morale high ground vs.feeling like a sucker.
Should have never shut it all down in the first place. Then I wouldn't be having these mental struggles. Lol

 

I thought I had originally read that EIDL could be used to retire pre existing debt. I guess not. I wonder if I could buy a new trailer, with the loan.So much is still changing. I know the means test requiring no credit available elsewhere, was dropped. Still it’s all pretty vague. My guess is, as long as you make your payments, no problem. But in Bankruptcy court, most Lenders have a time limit, on challenges to unsecured debt. Credit cards for instance, $300 plus purchases with in 6 mos. Any amount less than $300, or over 6 mos old. Can’t be challenged. I wonder about a sba loan. Maybe like College tuition, it can’t be discharged. I hate to even think about it, but like an accident, no one plans on it happening. But it can.

 

Breaking News. Wall Street Journal reports, a revision to the ppp is in the works, providing more flexibility in the time and use of ppp funds. Stay tuned.

 

Got my 10k EIDL grant thing. Woot woot. Loving this free money!