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$10,000 EIDL GRANT

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

Page 18 of 133
  1. Apr 14, 2020 #171
    Tug Toy

    Tug Toy Road Train Member

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    Yes.

    Edit.
    Lol I guess either works then?
     
    Tug Toy, Apr 14, 2020
    Tug Toy, Apr 14, 2020
    #171
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  3. Apr 14, 2020 #172
    Cat sdp

    Cat sdp . .

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    I just pulled that figure off last years tax return.......

    I got some kind of application file number emailed to me but that’s it.....

    I don’t think I’ll see any money. Or ever talk to anyone who has.....
     
    Cat sdp, Apr 14, 2020
    Cat sdp, Apr 14, 2020
    #172
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  4. Apr 14, 2020 #173
    Scooter Jones

    Scooter Jones Road Train Member

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    Cost of goods sold don't really apply to a service oriented business like trucking.
     
    Scooter Jones, Apr 14, 2020
    Scooter Jones, Apr 14, 2020
    #173
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  5. Apr 14, 2020 #174
    HopeOverMope

    HopeOverMope Road Train Member

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    Ok. Ten4. I watched a video on YouTube for an Uber driver, and that’s what he put too, $0.
     
    HopeOverMope, Apr 14, 2020
    HopeOverMope, Apr 14, 2020
    #174
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  7. Apr 14, 2020 #175
    Scooter Jones

    Scooter Jones Road Train Member

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    Anyone reading this thread forward, if they aren't getting anywhere with a PPP traditional bank/lender, should really consider going through a Fintech lender.

    A cursory seach on Google will generate links to SBA approved Fintech lenders. A couple I suggest looking at would be PayPal or Kabbage.
     
    Scooter Jones, Apr 14, 2020
    Scooter Jones, Apr 14, 2020
    #175
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  8. Apr 14, 2020 #176
    Scooter Jones

    Scooter Jones Road Train Member

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    On EIDL.

    Watched a business guy this evening. 625 small businesses surveyed. 1.5% have received feedback from SBA on this program.

    Interviewed one small businessman who said he received a $15,000 loan offer, received docs, electronically signed, said docs on the way back through the internet got lost, was asked to start a new application LOL.

    Such is life sometimes...
     
    Scooter Jones, Apr 14, 2020
    Scooter Jones, Apr 14, 2020
    #176
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  9. Apr 14, 2020 #177
    Rideandrepair

    Rideandrepair Road Train Member

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    Like peeling an onion. I’m dropping off taxes tomorrow, Tax Lady’s going on vacation, As Usual. Lol. Don’t know where they could be going. Last years numbers were so bad, was hoping to get 2019 numbers. According to my calculator, Based on 40k yr. adjusted gross income, I’d qualify for roughly a $8000 loan. That would be a big help, along with continued Working through these terrible rates. Doable anyways. I did find the loan application online. Ofcourse it’s no good without a sba Lender.
     
    Rideandrepair, Apr 14, 2020
    Rideandrepair, Apr 14, 2020
    #177
  10. Apr 14, 2020 #178
    xsetra

    xsetra Road Train Member

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    Cost of goods, I put in all my expenses.
    My goods, being the transport.
    My cost, being fuel, repairs etc,etc,
     
    xsetra, Apr 14, 2020
    xsetra, Apr 14, 2020
    #178
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  11. Apr 14, 2020 #179
    Scooter Jones

    Scooter Jones Road Train Member

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    Not sure it's going to matter on the EIDL application. But that's not how COGS is used in business accounting for a service business like ours.

    What are cost of goods sold on the Schedule C?
     
    Scooter Jones, Apr 14, 2020
    Scooter Jones, Apr 14, 2020
    #179
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  12. Apr 14, 2020 #180
    xsetra

    xsetra Road Train Member

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    Make sure you use the updated application dated the 6th of April.

    SBA message::
    The most recent version of the SBA Application form has an expiration date of 9/30/2020 in the upper right corner and date of (4/20) in the bottom left corner
     
    xsetra, Apr 14, 2020
    xsetra, Apr 14, 2020
    #180
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