$10,000 EIDL GRANT

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

  1. Scooter Jones

    Scooter Jones Road Train Member

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    Wow! You mean your regular shipper abandoned you for a cheaper rate? Imagine that ;-)
     
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  3. nikmirbre

    nikmirbre Road Train Member

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    Yep Im in the same boat.....:(
     
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  4. Scooter Jones

    Scooter Jones Road Train Member

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    I'm expecting a loan offer from the SBA EIDL program any day now. I'm not interested in a collateralized loan, but I will take the up to $25,000 unsecured loan at 3.75% if they offer it. The deferral period of the first required payment is so good, I'd be crazy not to take it and just park the money and wait it out.
     
  5. Midwest Trucker

    Midwest Trucker Road Train Member

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    No EIDL or PPP yet. No Stimulus for me. If I get that full 10k grant that’ll certainly make up for it. I did get my PPP wait in line number.

    I’ll just keep standing here with my hand out. Making sucking noises. Gimme gimme gimme... I need I neeeeeed! #GovTit4Life
     
  6. Taiwa

    Taiwa Bobtail Member

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    Good for you.
    You been so helpful.
     
  7. DUNE-T

    DUNE-T Road Train Member

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    I park my trucks in a yard, where a company with one of the biggest names in heavy equipment world has a cross dock warehouse.
    For the last 3 years since I started to park there, all I saw was their own trucks and one more trucking company trucks, who are doing dedicated runs. Never ever have I seen a Mega in there
    Now I see Swift trucks every other time I go to my yard. They only started to show up in March. You would expect brokered junk trucks fixed with tape to be there, but no, Mega is taking over.
     
  8. Scooter Jones

    Scooter Jones Road Train Member

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    Okay, here's some information I received speaking with an SBA rep this morning.

    If you have received the EIDL "advance" already that means they have pulled and reviewed your credit score.

    They are preparing loan offers in the order of application receipt online.

    Once they have determined credit worthiness and ability to repay said loan, a request, via email, will be sent from the SBA, to establish an online account through their portal.

    Once that is established, the loan offer will be online, either accept or reject. If accepted, electronic loans will be sent, sign and send back, and $$$ will be on the way! :)
     
    Last edited: Apr 29, 2020
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  9. Rideandrepair

    Rideandrepair Road Train Member

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    Ok, I know this may sound dumb, but that’s never been a deterrent for me. My question is, am I already signed up for a loan offer, having gotten the advance? Seems, I need to actually apply through one of the Banks listed earlier, correct? I’ll need either my 2019 tax return, or a P&L statement, as an alternative.
     
  10. DUNE-T

    DUNE-T Road Train Member

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    You will be just waiting time applying for PPP with banks, your operation and payroll will not allow you to get anything substantial. Most likely you will just get denied.
    The better chance is to get free $1000 from EIDL straight from SBA website. You might also get a loan from them, but if you have not already applied, they most likely will run out of money again, before they get to you.
     
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  11. Scooter Jones

    Scooter Jones Road Train Member

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    PPP & EIDL are 2 separate deals.
     
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