$10,000 EIDL GRANT

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

  1. DUNE-T

    DUNE-T Road Train Member

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    You can deliver loads and ask for COD ))
    I am sure many car haulers dont report their full income. I bought multiple cars at auctions over the years for personal use and always paid cash to the driver when cars were delivered.
     
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  3. Scooter Jones

    Scooter Jones Road Train Member

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    Exactly. Look, I was in the trades for years. Knew many others who were too. If a customer gets an invoice at the end of a job for $2000 and the contractor offers them a 10% discount for cash payment, that customer will pay cash 9 out of 10 times ;-)
     
  4. Midwest Trucker

    Midwest Trucker Road Train Member

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    I dont see why you wouldnt just take the money as pay slowly over 8 months and get all of that forgiven. Why be so desperate to take it all now and then have to pay it back?
     
  5. DUNE-T

    DUNE-T Road Train Member

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    Because it needs to be used within 2 months?
     
  6. Midwest Trucker

    Midwest Trucker Road Train Member

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    Well you are only supposed to get 10 weeks worth of pay anyway. Pay yourself over 8 weeks, then the remaining EIDL forgiveness that you can. And give the last little bit back. Then take the 8 weeks of pay you saved up over 8 weeks and pay whatever you want to pay off with free money?
     
  7. Scooter Jones

    Scooter Jones Road Train Member

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    My personal perspective & strategy is that PPP should be utilized first (which is why I jumped on the process right away) then the unemployment option with the $600 federal kicker AFTER the PPP 8 week period is complete. My PPP money was funded April 15th. June 15th is end of 8 week period.

    The money I received on the April 15th will be used to keep me on the payroll for 8 weeks according the agreement. If things are still difficult on June 15th due to the decision of Federal & State government to essentially shut-down a large swath of our economy, severely effectively my business, I will apply for unemployment here in Oregon.

    Unemployment insurance for business owners which is really only recently starting to process here in Oregon. The deadline for that option, according to what I've read, will discontinue on July 26th.

    The EIDL process is pretty much in limbo at this point LOL
     
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  8. Wespipes

    Wespipes Road Train Member

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    Did yall see? About 50 or so companies got together and are suing the sba because of their quick change. How it changed from 10k to 1k per employee. Idk if it'll make any headway but watch the video the lawsuit has kind of a point

     
  9. snowwy

    snowwy Road Train Member

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    There's already a lawsuit for allowing big businesses to take on the loan. Taking away from small businesses.

    I haven't kept up but last I heard it was the lakers.
     
  10. JonJon78

    JonJon78 Road Train Member

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    Maybe I'm mistaken didn't you just post that your lease purchase truck was turned in and you went back to company driver?
     
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  11. Midwest Trucker

    Midwest Trucker Road Train Member

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    Kinda funny that people are sueing over getting less free money then promised. lol The entitlement sets in quick.

    I heard a guy yesterday mad because the interest would start on the first day that he got the money. So he would have to pay interest on the payroll money if he decided to keep the rest as a loan. So he decided he would give bonuses to himself and his employees to use it all up.

    I reminded him that since around 85% was going to be free, that wasn’t it nice just to get that and not care too much about any interest?
     
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