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Scorp unemployment

Discussion in 'Ask An Owner Operator' started by Wespipes, Mar 29, 2020.

Page 2 of 6
  1. Mar 30, 2020 #11
    Opus

    Opus Road Train Member

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    Dec 18, 2011
    South GA
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    You need to look into the CARES act for forgivable SBA loans up to $10k for small businesses.
     
    Opus, Mar 30, 2020
    Opus, Mar 30, 2020
    #11
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  3. Mar 30, 2020 #12
    Wespipes

    Wespipes Road Train Member

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    Yes my truck and trailer are paid for. 1500 a month would pay all my fixed
     
    Wespipes, Mar 30, 2020
    Wespipes, Mar 30, 2020
    #12
    Scooter Jones Thanks this.
  4. Mar 30, 2020 #13
    Wespipes

    Wespipes Road Train Member

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    So I've decided to wait 2 weeks. See how this small business payroll loan thingy goes. Chances are I won't qualif . If so I'll go on unemployment and park the truck IF open deck freight drops off
     
    Wespipes, Mar 30, 2020
    Wespipes, Mar 30, 2020
    #13
  5. Mar 30, 2020 #14
    xsetra

    xsetra Road Train Member

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    https://www.htbwi.com/ContentDocumentHandler.ashx?documentId=64042

    This link is from a bank. Explains sba payroll protect

    This is from Representative Grothman:


    Last Saturday, I received email confirmation with a press release and fact sheet announcing that SBA will be offering these loans to small businesses, as I requested in my letter.

    During this period where we must be especially mindful of the strain on local businesses and the need to support them, this is a big win for small businesses in Wisconsin.

    Please feel free to forward this message to any small business owner in your area that is in need of relief.

    Ways for businesses to apply:
    https://disasterloan.sba.gov/ela
    (800) 659-2955
    disastercustomerservice@sba.gov

    SBA’s Tips for businesses seeking to apply:

    • Due to high demand, consider applyin
     
    Last edited: Mar 30, 2020
    xsetra, Mar 30, 2020
    xsetra, Mar 30, 2020
    #14
    DUNE-T Thanks this.
  7. Mar 30, 2020 #15
    DUNE-T

    DUNE-T Road Train Member

    6,379
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    May 10, 2015
    Detroit, MI
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    So if I understand correctly all the 1099 people in US will be getting $600 per week plus half of their state average unemployment check?
    Since I own two businesses, me and my wife should be getting let's say $900 each, so $1800 per week.
    Our fixed business expenses are $2000 per week (business rent, utilities, equipment payments, e.t.c), so sitting at home for a month or two wouldn't actually be too bad, especially getting $3400 on top of that (two adults and two kids in the household)
     
    DUNE-T, Mar 30, 2020
    DUNE-T, Mar 30, 2020
    #15
  8. Mar 30, 2020 #16
    TallJoe

    TallJoe Road Train Member

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    Apr 12, 2016
    Chicagoland
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    I just hope that this will not create hyperinflation.
     
    Last edited: Mar 30, 2020
    TallJoe, Mar 30, 2020
    TallJoe, Mar 30, 2020
    #16
    Opendeckin Thanks this.
  9. Mar 30, 2020 #17
    Mattflat362

    Mattflat362 Road Train Member

    2,693
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    Feb 18, 2015
    Avon Lake, Ohio
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    Mattflat362, Mar 30, 2020
    Mattflat362, Mar 30, 2020
    #17
  10. Mar 30, 2020 #18
    Wespipes

    Wespipes Road Train Member

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    Wife is on the computer applying now. Didnt know it was up already on the sba site. THANK YOU
     
    Wespipes, Mar 30, 2020
    Wespipes, Mar 30, 2020
    #18
    xsetra Thanks this.
  11. Mar 30, 2020 #19
    kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

    10,007
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    Jan 13, 2013
    SW Arkansas
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    I got an email from OOIDA. Everyone that appies for a loan here will get a $10,000 grant within 3 day of the application whether loan is approved or not.
    Here is the text:


    After passage of the most recent coronavirus emergency legislation, the U.S. Small Business Administration has posted the application for an emergency Economic Injury Disaster Loan (EIDL): https://covid19relief.sba.gov/#/.

    EIDLs are loans of up to $2 million that carry interest rates up to 3.75 percent for companies, as well as principal and interest deferment for up to 4 years. The loans may be used to pay for expenses that could have been met had the disaster not occurred, including payroll and other operating expenses. Small businesses, independent contractors, and sole proprietors negatively impacted by COVID-19 can apply.

    As part of this emergency legislation, small businesses, independent contractors, and sole proprietors can obtain an advance of up to $10,000. This advance is a grant, which means it doesn't have to be repaid, even if you are later denied an EIDL loan. Under the legislation, the SBA is required to provide this grant within 3 days of application.

    The emergency EIDL program is only one of the financial assistance programs made available in the recent legislation. More information on other assistance and relief can be found in a document we have prepared here. OOIDA will be sending more information about these new programs as it becomes available in the days and weeks ahead.
     
    kemosabi49, Mar 30, 2020
    kemosabi49, Mar 30, 2020
    #19
    Wespipes Thanks this.
  12. Mar 30, 2020 #20
    JonJon78

    JonJon78 Road Train Member

    6,731
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    Jul 1, 2018
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    I got this email also. Its says "UP TO $10k"... Doesn't sound to me like they are just going to give everyone $10k...

    Maybe I'm wrong?
     
    JonJon78, Mar 30, 2020
    JonJon78, Mar 30, 2020
    #20
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