When to payback SBA loan

Chicago "finest" started to feel gov breath on their neck...they bought personal vacation houses, exotic cars etc for SBA and PPP loans...sad thing these POS will never get justice served...as soon as things will heat up enought they will go back to their holes in the world they came from ...

 

I am with you on this one. These are exactly the creatures bringing the country down. Someone might say that it would be a stupid thing not to take advantage of - uncapitalistic - if you will. But these loans should have never been offered in a free market / capitalistic environment in the first place. Let the weak sink and drown and the stronger survive and thrive. Now, that's capitalism.

 

If the monies are from this Government program just pay it back. I was looking at it as an inflation hedge.

 

Great advice.

 

My opinion about all loans. Pay them off ASAP. We never know when that accident or illness might sideline us for a short or long time. It's less stressful to heal without worrying how to make ends meet.

 

Has anyone received a bill yet?

 

It’s a fixed rate simple interest loan, with no pre payment penalty. Amortized over 30 yrs. So yes anytime you pay extra, you’re saving interest. It gets re amortized with any extra payment that’s applied to principal. Your payoff balance will be less. Next payment will apply more towards principal, less on interest, since you’ll owe less on the outstanding balance. This has a snowball effect, the magic of compound interest working backwards. For lack of a better explanation. With any loan it’s best to specify the extra amount is intended for payment on principal.

 

Cryptocurrency

 

I’d pay off any high interest debt you have
Then hit this
I know it’s a hope and a looong shot but who knows what this government will do
Maybe forgive it?
Again. A hope and wish but who seen any of this stuff coming?