$10,000 EIDL GRANT

I just realized, you probably meant a heloc, against a paid off house. You’re absolutely right. Dangerous game.

 

That’s makes sense.

 

My anxiety level has been low, until recently. Must be the EIDL loan, along with using the F word. Lol. I’m taking a break, from my high finances for now. Too many uncertainties, good luck everyone, spend/ borrow wisely. Debt is Slavery. No Freedom in Slavery.

 

Yup quickly get out and back into a good lane but you'll eventually find yourself in another flat lane a load or 2 later .

 

All those posts make me rethink the EIDL loan. I can just keep the advance and run. LOL
But it's no advance if you got the PPP loan. At least you can keep the PPP loan at the low-interest rate for two years.

 

That’s right, 60% payroll, alls forgiven. Worse case scenario any amounts challenged,1% 2 yr loan. Basically nothing, since inflation s higher than 1%.

 

I’m going to go ahead and take the EIDL, but I’ve already hocked everything to the bank for my operating loan, anyway, so there’s no added risk. I’ll use it to slowly reduce some unstructured debt and thus reduce risk - even though I’m changing un-secured debt for secured debt. Going from variable rates to fixed rates is worth it. Plus drop kicking Wells Fargo to the curb? Well, now, that’s priceless....

 

SBA Releases New EZ PPP Loan Forgiveness Application

 

Thank goodness