$10,000 EIDL GRANT

Now I’m stumped. Trying to fill out ppp, it says I must have a schedule c, per new sba rules. I can’t find one anywhere. I’m set up as an s Corp. I’ve got schedule k1, which is similar, but not schedule c. Here’s the reference, also mentions the part about refinancing EIDL loan with the ppp, minus the advance.

 

Looks like I’m SOL, since I don’t do payroll, only draws. Oh well fair enough, that’s how the cookie crumbles.

 

Check the casino. lol

 

What of you average you draws over the year and come up with a weekly number.

 

Tax documents that I don’t have are required. It’s pretty plain. Something they added recently. On the other hand, they streamlined the forgiveness process.

 

well just got approved for $103,100. Have no idea how much I should take. The 103,000 is at 3.75% payments start after 12 months. Itll be $522 a month. $25000 would be $122 a month.

 

Read the fine print on amounts over $25k.

 

Over 25k under 200k all business assets are collateral. Over 200k personal guarantees are required

 

What if you take the eidl loan and next year you are out of trucking due to unforeseen circumstances? Do you just keep paying monthly? Have to pay all of it in one lump sum? Any ideas?