# SBA loans are still available and you're guaranteed to qualify



## Working4peanuts (Jan 16, 2018)

I work there. So believe me when I tell you you're a fool if you don't apply. Now.

You will get a 3.75% loan for 30 years. You qualify for 50% of whatever your Uber/lyft/Uber eats 2019 year end summary shows at the top- before their cut.

For example, if it says you earned $50000 and then service fees are $15000, you will get 50% of the 50000. That is the number you claim. That is the number you're including on your schedule c as gross income. Do not include any w2 earnings.

You're a fool not to take the money.

The only thing you'll need to supply is your year end summary and maybe a 4506t irs form to request your tax transcripts.

The application takes 5 minutes to complete.

Go to sba.gov and look for eidl loans. Take the money. Everyone else is and you're entitled to it. You can always pay it back early if you suddenly come into a lot of money.

The program ends December 21 unless Congress extends it.

You must be a u.s. citizen or have a permanent resident alien card though.


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## Another Uber Driver (May 27, 2015)

What if you already applied and got one? I did apply. I got the one thousand just for applying. All that I got for the loan was another one thousand. My Uber 1099 alone, showed more than four thousand. Did I get shorted?


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## Working4peanuts (Jan 16, 2018)

Another Uber Driver said:


> What if you already applied and got one? I did apply. I got the one thousand just for applying. All that I got for the loan was another one thousand. My Uber 1099 alone, showed more than four thousand. Did I get shorted?


No. You got $2000, which is half the $4000. If you have income from other ride share companies, you can ask for reconsideration.

You should get half of your total ride-sharing gross payments.

[email protected]


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## Another Uber Driver (May 27, 2015)

Working4peanuts said:


> No. You got $2000, which is half the $4000.





Another Uber Driver said:


> My *Uber* 1099 *alone*, showed more than four thousand.


(emphases added)

Thank you for the re-consideration link. I will try it.


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## _Tron_ (Feb 9, 2020)

Another Uber Driver said:


> Thank you for the re-consideration link. I will try it.


Ya'd be a fool if ya didn't.

:wink:


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## Working4peanuts (Jan 16, 2018)

Another Uber Driver said:


> (emphases added)
> 
> Thank you for the re-consideration link. I will try it.


Sba loan officers don't have discretion in that respect. If you claimed $4400, and provided your tax return substantiating that, you would have gotten $2200.

Either you put $4000 on your application, or you put more and couldn't substantiate more than $4000. Period.


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## Poopy54 (Sep 6, 2016)

I applied way back mid year, and got a letter saying they couldn't do the loan, but will give you 1000, but never received it
Is it wise to just do it again? I showed both my Uber and Lyft earning for 2019 gross


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## Working4peanuts (Jan 16, 2018)

Poopy54 said:


> I applied way back mid year, and got a letter saying they couldn't do the loan, but will give you 1000, but never received it
> Is it wise to just do it again? I showed both my Uber and Lyft earning for 2019 gross


I would. And do it before tomorrow. I'm assuming they declined your application- not that they "wouldn't do it."

If you got that letter less than six months ago, apply for reconsideration. See email above


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## UberBastid (Oct 1, 2016)

I have never had a good experience working with or for the government.
Especially the federal gov't.
They don't honor agreements that they don't want to, and you can't sue to enforce.

I can get terms at my bank that equal or beat SBA, and I actually trust them.

Besides; I don't ask the gov't to do things that I can do for myself.


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## Free willy (Oct 11, 2020)

I received a loan but no $1k on top of it - that was no longer available when I applied in July. I was surprised at how quickly everything was done. Once they verified my income I had the funds deposited in my account 2 days after applying. 

You don't have to report it as income if you are on UI. 

You can't utilize the funds for just anything and I am sure there's a link somewhere explaining all this. It's also worth noting you don't have to make payments for a year.


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## Illini (Mar 14, 2019)

Unless this loan would be forgiven, I have no desire to apply, because I don't need the money.


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## Working4peanuts (Jan 16, 2018)

Free willy said:


> I received a loan but no $1k on top of it - that was no longer available when I applied in July. I was surprised at how quickly everything was done. Once they verified my income I had the funds deposited in my account 2 days after applying.
> 
> You don't have to report it as income if you are on UI.
> 
> You can't utilize the funds for just anything and I am sure there's a link somewhere explaining all this. It's also worth noting you don't have to make payments for a year.


You can use the loan for expenses. How that is defined is anyone's guess. I sincerely doubt sba cares about you-there are literally millions going out to pay for lamborghinis. I advise you don't do that though-feds are going after those people.

2 days is highly unusual. You have to be patient.



Illini said:


> Unless this loan would be forgiven, I have no desire to apply, because I don't need the money.


It's not forgiven. Glad you're independently wealthy. Thousands of Uber drivers have already gotten loans. With things as bad as they are and getting worse, I hope every Uber driver applies. Consider it a rainy day fund.


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## ANThonyBoreDaneCook (Oct 7, 2019)

Working4peanuts said:


> You can use the loan for expenses. How that is defined is anyone's guess. I sincerely doubt sba cares about you-there are literally millions going out to pay for lamborghinis. I advise you don't do that though-feds are going after those people.
> 
> 2 days is highly unusual. You have to be patient.
> 
> ...


Thanks for the info.
I was approved in July. I kept it under $25k and received the $1K grant.
There was talk of them "topping off" or adding additional grant $ to those who were approved. Any news on that?
I read this a while ago but I haven't heard much about it recently.


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## SHalester (Aug 25, 2019)

Working4peanuts said:


> and maybe a 4506t irs form to request your tax transcripts


yeah, I did that as requested and never heard back. I think they look at my(our) adjusted gross income and fell out of their chair laughing I was applying for the loan. OH well. I have an empty credit line at 4%, so not that much of a loss.


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## Working4peanuts (Jan 16, 2018)

ANThonyBoreDaneCook said:


> Thanks for the info.
> I was approved in July. I kept it under $25k and received the $1K grant.
> There was talk of them "topping off" or adding additional grant $ to those who were approved. Any news on that?
> I read this a while ago but I haven't heard much about it recently.


Total horsesh#t. Government doesn't top off. Have you gotten your loan yet or just the advance?


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## Jst1dreamr (Apr 25, 2019)

Working4peanuts said:


> I work there. So believe me when I tell you you're a fool if you don't apply. Now.
> 
> You will get a 3.75% loan for 30 years. You qualify for 50% of whatever your Uber/lyft/Uber eats 2019 year end summary shows at the top- before their cut.
> 
> ...


Actually you are a fool if you take this loan without a desperate need for it,


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## ANThonyBoreDaneCook (Oct 7, 2019)

Working4peanuts said:


> Total horsesh#t. Government doesn't top off. Have you gotten your loan yet or just the advance?


Yes.
I got the grant within 14 hours and the loan funds less than two weeks later.

I wonder who or why someone started that rumor.


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## Working4peanuts (Jan 16, 2018)

Jst1dreamr said:


> Actually you are a fool if you take this loan without a desperate need for it,


Okay, gotta ask out of curiosity. I know I'll be sorry I did.

Why, do tell?

There is no downside.


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## Free willy (Oct 11, 2020)

Jst1dreamr said:


> Actually you are a fool if you take this loan without a desperate need for it,


I don't understand your logic. If you are hurting for any reason and the money is available why would you not take it? There's no chance in hell that I will be alive in 20 years, 10 will be a long shot and perhaps not even 5. I will pay some interest off and then I will be gone. Free money.


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## MarlboroMan (Jun 7, 2017)

Working4peanuts said:


> I work there. So believe me when I tell you you're a fool if you don't apply. Now.
> 
> You will get a 3.75% loan for 30 years. You qualify for 50% of whatever your Uber/lyft/Uber eats 2019 year end summary shows at the top- before their cut.
> 
> ...


But you gotta pay them back.


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## Free willy (Oct 11, 2020)

MarlboroMan said:


> But you gotta pay them back.


that's why it's called a loan lol


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## Working4peanuts (Jan 16, 2018)

MarlboroMan said:


> But you gotta pay them back.


Just take the money, buy tsla, wait two weeks until it doubles, sell, pay back sba and then spend the money on hookers.

This isn't complicated.


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## Jst1dreamr (Apr 25, 2019)

Working4peanuts said:


> Okay, gotta ask out of curiosity. I know I'll be sorry I did.
> 
> Why, do tell?
> 
> There is no downside.


Oh crap, another of those "do tell" people. 
What smart person would borrow say $10,000 *that they didn't need* and then have repay $46 per month for 30 years for a total of $16,672. That is $6672 that could be used for something smart like adding to a retirement account or an emergency fund.
If you don't see the down side to this then you are a hopeless case and should definitely not be giving financial advice to anyone. Ok, I did tell, so what is you argument to this?


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## SHalester (Aug 25, 2019)

Working4peanuts said:


> There is no downside.


well, there is. Take somebody who goes for the loan, spends away and then has no way to repay the loan.....ever.... ooopsie.


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## Working4peanuts (Jan 16, 2018)

Jst1dreamr said:


> Oh crap, another of those freaky "do tell" people.
> What smart person would borrow say $10,000 *that they didn't need* and then have repay $46 per month for 30 years for a total of $16,672. That is $6672 that could be used for something smart like adding to a retirement account or an emergency fund.
> If you don't see the down side to this then you are a hopeless case and should definitely not be giving financial advice to anyone. Ok, I did tell, so what is you argument to this?


It's called an emergency fund. 99% of Uber drivers have nothing in the bank and Uber won't pay you a dime if you get in an accident or get a false complaint.

Don't need any other reason.

If you have savings, you can use the money to pay off high interest credit card debt if you have it.

Or buy a new car if yours is about to fall apart. Show me a used car loan for 3.75%. that's rhetorical. You can't.

I'm not giving financial advice. And based on your lack of understanding, neither should you.


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## Jst1dreamr (Apr 25, 2019)

Free willy said:


> I don't understand your logic. If you are hurting for any reason and the money is available why would you not take it? There's no chance in hell that I will be alive in 20 years, 10 will be a long shot and perhaps not even 5. I will pay some interest off and then I will be gone. Free money.


No you wouldn't understand, because you didn't read the statement. I clearly said _"if you take this loan without a desperate need for it" _which means you must not be hurting for it.


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## SHalester (Aug 25, 2019)

methinki


Working4peanuts said:


> Show me a used car loan for 3.75


methinks u didn't check auto manufacturer loan deals before posting that. Just saying.


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## Working4peanuts (Jan 16, 2018)

SHalester said:


> well, there is. Take somebody who goes for the loan, spends away and then has no way to repay the loan.....ever.... ooopsie.


True. Then again, the average payment is less than $50 a month. Uber drivers make $1500 a week according to Uber.


SHalester said:


> methinki
> 
> methinks u didn't check auto manufacturer loan deals before posting that. Just saying.


I did. I said used car. Not new car. And you have to have excellent credit to get a low rate on a new car. You only need 570 to get sba loan.


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## ANThonyBoreDaneCook (Oct 7, 2019)

Working4peanuts said:


> It's called an emergency fund. 99% of Uber drivers have nothing in the bank and Uber won't pay you a dime if you get in an accident or get a false complaint.
> 
> Don't need any other reason.
> 
> ...


You would have to expect that when you made this post, you would see a parade of "wealthy" Uber drivers offering their advice.
Their financial wisdom, business acumen and extraordinary wealth has led them to delivering fast food for 48 cents per mile.
Makes sense.
There's always a few in every crowd...


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## SHalester (Aug 25, 2019)

Working4peanuts said:


> Uber drivers make $1500 a week according to Uber.


are you altered? Many uber drivers really can't manage their finances...at all; throw a loan at them and they will believe it is for spending. They really won't think about having to pay it back. Add in many here will believe the loan will be 'forgiven' later, so spending the total is aok. 
I'm in line for the loan, but never heard back after doing the IRS transcript form; and that was months ago. I keep asking for an update only to get crickets. Don't need the loan, but was interested in what the loan amount would have been. Thank goodness I don't need it; would have been way past blue in the face holding my breath waiting......



Working4peanuts said:


> I said used car.


actually, you didn't say 'used'. Need a reminder?



Working4peanuts said:


> Or buy a new car if yours is about to fall apart.


only the sentence after that 'mentions' used. Do better; less altered.


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## ANThonyBoreDaneCook (Oct 7, 2019)

Working4peanuts said:


> because you spend your lonely retirement years posting on a msg board


Yeah that is pretty odd isn't it?
Like why would you post this much?
Unless???

And then you have this beauty lol
The loan officer was laughing out of his chair because he is so wealthy.
Look at all of the impressed Uber drivers! Wow!

Insecure meter is pumping red











SHalester said:


> I think they look at my(our) adjusted gross income and fell out of their chair laughing I was applying for the loan. OH well. I have an empty credit line at 4%, so not that much of a loss.


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## Taxi2Uber (Jul 21, 2017)

Working4peanuts said:


> You're a fool not to take the money.


Call me a fool then.
I applied as a backup plan, when PUA was still a question mark.
I received approval but never followed through getting the loan as I didn't need it.
I never received the $1000 grant, and when I called, they said I declined the advance on my app. (Umm..ok)


Working4peanuts said:


> There is no downside.


This is why everyone is in debt.


Working4peanuts said:


> You only need 570 to get sba loan.


Not true.

I'm starting to think that you really don't work there.


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## Working4peanuts (Jan 16, 2018)

Taxi2Uber said:


> Call me a fool then.
> I applied as a backup plan, when PUA was still a question mark.
> I received approval but never followed through getting the loan as I didn't need it.
> I never received the $1000 grant, and when I called, they said I declined the advance on my app. (Umm..ok)
> ...


Are you freaking kidding me? Now you're telling me SBA rules? It's absolutely the case. If you don't have a 570 credit score, you ain't getting jack. It's unbelievable what ******s some of you guys are.


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## Johnny Mnemonic (Sep 24, 2019)

Pass,

Hard Pass.


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## SHalester (Aug 25, 2019)

Johnny Mnemonic said:


> Pass,
> 
> Hard Pass.


well, for those with a few brain cells (that spark) you pay off high interest credit cards with 'this' loan and then you make the exact same payments as you were making on those credit cards. THAT would be smart.
Taking the loan, the lower interest rate, and then paying the min pymt due, that would be dumb.


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## Working4peanuts (Jan 16, 2018)

Johnny Mnemonic said:


> Pass,
> 
> Hard Pass.


Those guys are morons. I will grant you that people who can't manage their finances are already behind the curve. But why would you pay 22% interest when you can pay 3?

Their advice to keep paying $1000 a month is sound. But the rest is garbage.


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## Taxi2Uber (Jul 21, 2017)

Working4peanuts said:


> Are you freaking kidding me? Now you're telling me SBA rules? It's absolutely the case. If you don't have a 570 credit score, you ain't getting jack. It's unbelievable what @@@@@@s some of you guys are.


No, not kidding.
My credit score is "_undetermined_" and I was approved.


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## Working4peanuts (Jan 16, 2018)

Taxi2Uber said:


> No, not kidding.
> My credit score is "_undetermined_" and I was approved.


If you applied today, you wouldn't get approved. In the beginning they approved anything with a pulse.


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## ColdRider (Oct 19, 2015)

Johnny Mnemonic said:


> Pass,
> 
> Hard Pass.


That lady sounds very LOW energy.


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## Taxi2Uber (Jul 21, 2017)

Working4peanuts said:


> Now you're telling me SBA rules?


I just remembered another "SBA rule" not followed.
SBA told me the loan offer will time out after a number of days (either 60 or 90, I can't remember now), but I still received SBA emails encouraging me to take the necessary steps to complete the loan process, well after those number of days.


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## Johnny Mnemonic (Sep 24, 2019)

Working4peanuts said:


> Those guys are morons. I will grant you that people who can't manage their finances are already behind the curve. But why would you pay 22% interest when you can pay 3?
> 
> Their advice to keep paying $1000 a month is sound. But the rest is garbage.


Whatever you say, Warbucks.

https://www.thestreet.com/lifestyle/david-ramsey-net-worth-15141963


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## Taxi2Uber (Jul 21, 2017)

SHalester said:


> well, for those with a few brain cells (that spark) you pay off high interest credit cards with 'this' loan and then you make the exact same payments as you were making on those credit cards. THAT would be smart.
> Taking the loan, the lower interest rate, and then paying the min pymt due, that would be dumb.


I've never had a credit card in my life.
I haven't had a loan since 1998.
I'm debt free.
Is that smart or dumb?
According to the OP, I'm a fool for not going into debt.


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## SHalester (Aug 25, 2019)

gee whiz, more members need to take advantage of 'ignore'. sheesh.


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## Working4peanuts (Jan 16, 2018)

Johnny Mnemonic said:


> Whatever you say, Warbucks.
> 
> https://www.thestreet.com/lifestyle/david-ramsey-net-worth-15141963
> Now go back to your cage cubicle at your government job. I don't take financial advice from broke people.


He went bankrupt. Good person to take advice from.


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## SHalester (Aug 25, 2019)

Taxi2Uber said:


> Is that smart or dumb?


idk, not enough data to make a clear choice. Do you own a house? Do you have adequate savings/investments? Are you married? Do you have kids? A cute puppy like mine?

I know at least one member who will want to have your children now. 

Back to my example: you get it, right? If you don't get it, then you have your answer.


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## Taxi2Uber (Jul 21, 2017)

SHalester said:


> If you don't get it, then you have your answer.


You haven't been paying attention.
I ALWAYS have the answer.&#128077;


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## Working4peanuts (Jan 16, 2018)

Johnny Mnemonic said:


> Whatever you say, Warbucks.
> 
> https://www.thestreet.com/lifestyle/david-ramsey-net-worth-15141963
> Now go back to your cage cubicle at your government job. I don't take financial advice from broke people.


Not broke.

Not running my car into the ground.

Not praying every day for anything but a minimum $2 fare.

I've got health insurance. How bout you?

I get Xmas Eve and Xmas off fully paid. How bout you?

I'm not exposed to covid-19 infected people every day.

Yep, totally jealous.


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## SHalester (Aug 25, 2019)

Taxi2Uber said:


> I ALWAYS have the answer.


oh, I read all your posts. Well, not any in chat or people or obscure local sub forums that is. 

but, you rock being debt free. Your cash flow must be AOK and steady as a rock. Um, er, ah or there is a SO in the mix who pays for things and takes the debt....... :thumbup:


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## Johnny Mnemonic (Sep 24, 2019)

Working4peanuts said:


> Not running my car into the ground.
> 
> Not taking shtt from lowlifes.
> 
> ...


Exactly the same, except I get Christmas Eve off unpaid.


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## Working4peanuts (Jan 16, 2018)

Johnny Mnemonic said:


> Exactly the same, except I get Christmas Eve off unpaid.


Guess you have a real job though since you don't get paid time off with Uber. What's that they say about glass houses????


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## nj9000 (Jun 6, 2019)

UberBastid said:


> I have never had a good experience working with or for the government.
> Especially the federal gov't.
> They don't honor agreements that they don't want to, and you can't sue to enforce.
> 
> ...


I would be very wary of accepting this loan. The SBA gave me misinformation for months. And there's nothing quite like owing the federal government money. Considering you can't just spend this on anything you need and you could be audited on how it was spent it could cause major issues later on.

The SBA's misinformation? I applied for an EIDL back in May, called them at least 5 times to give them info they needed and checking up on it and they kept saying everything was fine and done correctly and I'd be getting my grant/advance. In July they ran out of grant money and my application ends up getting rejected. I try for a reconsideration, and they act like I'm just denied and can't move forward at all. I had to press them over a long email exchange to even find out it was just information not getting verified and to get them to admit what I needed to give them and I had to supply them more documents. Finally filed my reconsideration in _October._ No word for 2 months then I find they emailed me Tuesday last week asking me to choose between 2 contractor gigs I listed on my tax return, and that the amount they approved me for before is wrong and I only get like half because I'd have to submit a completely new, separate application for the other gig. And even though they took 2 months to respond, in their email they said to reply by Thursday (only 2 days for me to get on it) or else it may not go through. I just responded to them right now.

As far as I'm concerned they are SHADY and did all this run-around on purpose to deny my grant/advance money and to roadblock my loan as much as possible.


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## Working4peanuts (Jan 16, 2018)

nj9000 said:


> I would be very wary of accepting this loan. The SBA gave me misinformation for months. And there's nothing quite like owing the federal government money. Considering you can't just spend this on anything you need and you could be audited on how it was spent it could cause major issues later on.
> 
> The SBA's misinformation? I applied for an EIDL back in May, called them at least 5 times to give them info they needed and checking up on it and they kept saying everything was fine and done correctly and I'd be getting my grant/advance. In July they ran out of grant money and my application ends up getting rejected. I try for a reconsideration, and they act like I'm just denied and can't move forward at all. I had to press them over a long email exchange to even find out it was just information not getting verified and I had to supply them more documents. Finally filed my reconsideration in _October._ No word for 2 months then I find they emailed me Tuesday last week asking me to choose between 2 contractor gigs I listed on my tax return, and that the amount they approved me for before is wrong and only like half because I'd have to submit a completely new, separate application for the other gig. And even though they took 2 months to respond, in their email they said to reply by Thursday (only 2 days for me to get on it) or else it may not go through.
> 
> As far as I'm concerned they are SHADY and did all this run-around on purpose to deny my grant/advance money and to roadblock my loan as much as possible.


That's just nonsense. We are instructed to go out of our way to approve every loan. You have zero credibility.

You cannot apply for two businesses in one loan. Them the rules.


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## nj9000 (Jun 6, 2019)

Working4peanuts said:


> That's just nonsense. We are instructed to go out of our way to approve every loan. You have zero credibility.
> 
> You cannot apply for two businesses in one loan. Them the rules.


Riiiiight. But you won't admit that they've tightened their approval process because there has been rampant fraud. And that innocent people get caught in it and end up missing out on aid they needed.

What cred am I lacking? I don't have an actual business, I'm a 1099 contractor like 95% of the people on this board.

I had the understanding that all that mattered was me as a 1099 contractor, and my total 1099 income for 2019. Not the different sources of that 1099 income. Nothing on the original application or ANY info from the SBA over the past 7 months told me this would be an issue. That's part of the problem, information was purposefully denied to me to make my application fail.


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## Working4peanuts (Jan 16, 2018)

nj9000 said:


> Riiiiight. But you won't admit that they've tightened their approval process because there has been rampant fraud. And that innocent people get caught in it and end up missing out on aid they needed.
> 
> What cred am I lacking? I don't have an actual business, I'm a 1099 contractor like 95% of the people on this board.
> 
> I had the understanding that all that mattered was me as a 1099 contractor, and my total 1099 income for 2019. Not the different sources of that 1099 income. Nothing on the original application or ANY info from the SBA over the past 7 months told me this would be an issue. That's part of the problem, information was purposefully denied to me to make my application fail.


And again I'm telling you that's nonsense. You're paranoid. I go out of my way to help people with incomplete applications to get approved. So does everyone else.

If a loan application is denied for whatever reason, it's assigned to another loan officer to see if they can get it approved.

The sba is on your side. Like nationwide...

No one caused your application to be denied except yourself. Take some responsibility for once.

Good luck to all of those that get a loan. Not posting here again.


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## nj9000 (Jun 6, 2019)

Take my story, replace the 'SBA' with a bank or credit card company and ask yourself if you would take a loan from such a company displaying such a level of incompetence or outright malicious corruption. This is like getting a loan from DFCS and the food stamps program, what are you going to expect when you start trying to make payments? Their information being wrong and not knowing what they're doing, when you owe the government thousands and you're trying to do the right thing paying it back.


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## _Tron_ (Feb 9, 2020)

This did not need to be a contentious thread. OP, thanks for the info. It is always valuable when an industry person can come in here with vertical knowledge to enlighten the membership. It is a shame though that you started the thread by pre-emptively marginalizing anyone who did not agree with your point of view. That set a tone.

Everyone has differing needs. In my case, I took that loan -even though I did not _need_ it- for 3 reasons:

1) Payback grace period of one year. In these times it is impossible to see how things will be even just a year from now. I would rather have the extra cash and not need it, than the other way around. The loan can be repaid in full next year for a nominal carrying fee.

2) I will (thankfully) be off-planet long before 30 years expire. (Quite frankly, as a taxpayer, the ability to payback a 30-year term loan should have factored in a person's age when determining eligibility).

3) I have it as a 50-50 chance that Congress will step in and make the loan forgivable at some point. Not claiming this will happen. Just calling for the possibility if the economy does not recover. And based on the current circumstances with infection rates, vaccine viability, morphing C19 examples, economic and financial factors et al... I am not expecting a recovery any time soon.


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## nj9000 (Jun 6, 2019)

Working4peanuts said:


> nO oNe CaUsEd YoUr ApPlIcAtIoN tO bE dEnIeD eXcEpT yOuRsElF.














_Tron_ said:


> This did not need to be a contentious thread. OP, thanks for the info. It is always valuable when an industry person can come in here with vertical knowledge to enlighten the membership. It is a shame though that you started the thread by pre-emptively marginalizing anyone who did not agree with your point of view. That set a tone.
> 
> Everyone has differing needs. In my case, I took that loan -even though I did not _need_ it- for 3 reasons:
> 
> ...


The OP is lying and has a bad attitude, and I seriously doubt they work for the SBA with the unprofessional foul-mouth they display here.

My story of my EIDL this year is valid. It wasn't me and my fault, if anyone wants to say that it was, my response is what am I supposed to do? Hire a Fing lawyer just to get my disaster assistance? Putting out that kind of money to get disaster aid defeats the purpose (and not like I have $$$ for that). Its not right to have the kind of red tape I dealt with and expect me to understand it all. I did exactly as they said on the application, and for 2 months after filing, SBA agents repeatedly told me it was all correct and no problems, didn't inform me there was a problem until AFTER the grant money ran out.

I'm not being paranoid if I question that being a coincidence.

Then when they finally informed me of a problem they just flat out acted like I was denied. 3 months of run-around in e-mails where they wouldn't explain why I was denied and what they needed to move forward. I could've guessed at it by looking online at what other people were doing, and I did do that, but I didn't know for sure what was going on with my specific case without the SBA agents actually communicating. After finally being _allowed_ to file my reconsideration, 2 months of nothing, then finally they respond needing MORE and finding even more previously unknown reasons to deny me and decrease my loan, and only giving me 2 days to respond. I don't easily jump to conspiracy theories but I have a sense of when I'm being F'ed with and the sequence of events smells of BS and constant stalling/lying on their part.


----------



## ANThonyBoreDaneCook (Oct 7, 2019)

Can you go back to Reddit and allow the adults that know how to fill out a basic application continue to have a productive discussion?
Thanks in advance


----------



## nj9000 (Jun 6, 2019)

ANThonyBoreDaneCook said:


> Can you go back to Reddit and allow the adults that know how to fill out a basic application continue to have a productive discussion?
> Thanks in advance
> 
> View attachment 536067


You're a ****** for not even knowing the OP isn't even here anymore?


----------



## ANThonyBoreDaneCook (Oct 7, 2019)

nj9000 said:


> You're a r3tard for not even knowing the OP isn't even here anymore?


Well I certainly wouldn't give anyone with that attitude a loan.
I fully support the SBA's decision on this one.


----------



## nj9000 (Jun 6, 2019)

ANThonyBoreDaneCook said:


> Well I certainly wouldn't give anyone with that attitude a loan.
> I fully support the SBA's decision on this one.


Not like I'm missing out on much, getting in debt with the government is never a good idea.

I filled out applications for 2 small businesses and they both got their loans just fine. Mine got flagged by their fraud prevention and I suspect its just because I'm 1099 and not a small business owner. The OP was full of sh!t saying they were doing whatever they could to approve people. It was the opposite. And now he's gone from the thread because he's a baby. He's off crying somewhere right this moment.

The lying from the SBA with my case was an injustice. What if I DID make a mistake on mine? I'm human, I'm not perfect. They said for months there was no mistake and it was good to go. No one told me, and in nothing I researched did anything say I needed separate applications for separate 1099's I received. I'm decent at paperwork, or else how did I get my PUA approved and been receiving it? There have been plenty of people who couldn't navigate it and only recently got their UI/PUA approved.

But by all means, keep jerking each other off in this thread arguing about who has the most money and who needs a EIDL the least.

Like my issues aren't more important, there have been plenty of people jerked around by the SBA and my story represents that. Like anyone wants to hear your financial ramblings. Go start a YT channel and GTFOH.


----------



## ANThonyBoreDaneCook (Oct 7, 2019)

nj9000 said:


> But by all means, keep jerking each other off in this thread arguing about who has the most money and who needs a EIDL the least.


Look you didn't qualify for the grant and loan.
You clearly wanted it and were denied.
Life is full of ups and downs. Don't be mad, just work a little harder to improve your credit score.


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## UberBastid (Oct 1, 2016)

nj9000 said:


> As far as I'm concerned they are SHADY and did all this run-around on purpose to deny my grant/advance money and to roadblock my loan as much as possible.


And, if you force the issue and make enough noise and make enough applications you will get some money. Then, a year from now they will look at ALL the applications and see a difference and ... send you a notice that the applications were deemed fraudulent and you owe full amount due with penalties and interest within 90 days, or some really bad things happen.

So, yea, I'd rather deal with my credit union and borrow at the same rate or less.


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## Schmanthony (Nov 18, 2017)

Thank you so much for posting this. I went and applied right away. I might actually use this loan to buy a new (used) car. Provided it's allowed and it all plays out like the OP suggests. We shall see.

EDIT: looks like a car is a no go (unless maybe I get another loan for it first?)



> [HEADING=2]*Q. What can EIDL be used for?*[/HEADING]
> 
> Payroll, fixed debts, accounts payable, other expenses that you are unable to pay directly due to the Covid-19 impact.


So given this, what can I actually use the loan for considering my only debt is my home loan which is lower than 3.75% ? What is "payroll" in the context of a gig worker's situation?

I do legitimately need a car soon, primarily for business purposes, and that's my main financial challenge right now - made much worse due to the pandemic.


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## UberBastid (Oct 1, 2016)

Schmanthony said:


> So given this, what can I actually use the loan for considering my only debt is my home loan which is lower than 3.75% ? What is "payroll" in the context of a gig worker's situation?


Name your car, put her on payroll.

See? This is what I'm talking about doing business with the government.
It takes a special kind of person to do this. I'm not him.

Can you get an auto loan? The rates can't be that much higher ...


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## Basketball 9to5 (Jun 21, 2020)

What if your fico score is 524


Working4peanuts said:


> I work there. So believe me when I tell you you're a fool if you don't apply. Now.
> 
> You will get a 3.75% loan for 30 years. You qualify for 50% of whatever your Uber/lyft/Uber eats 2019 year end summary shows at the top- before their cut.
> 
> ...


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## Legendary Status (Dec 1, 2020)

Working4peanuts said:


> I work there. So believe me when I tell you you're a fool if you don't apply. Now.
> 
> You will get a 3.75% loan for 30 years. You qualify for 50% of whatever your Uber/lyft/Uber eats 2019 year end summary shows at the top- before their cut.
> 
> ...


I got the advance and the loan back in July, can I apply again for another loan?


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## Schmanthony (Nov 18, 2017)

UberBastid said:


> Name your car, put her on payroll.
> 
> See? This is what I'm talking about doing business with the government.
> It takes a special kind of person to do this. I'm not him.
> ...


The more I read, the more I'm thinking maybe I am allowed to use the loan for a car. This is from SBA.gov:



> EIDL proceeds can be used to cover a wide array of working capital and normal operating expenses, such as continuation of health care benefits, rent, utilities, and fixed debt payments.


It doesn't seem like that much of a stretch that the cost of car ownership could be considered "normal operating expenses". Particularly if it's being used 100% for business, which is a possibility for me.

I'm not sure if I could get a car loan or not, or if I could how good it would be. Gig work (mostly rideshare) is my only income and has been for about 3 years. I do have excellent credit, but I sort of doubt I could get a loan for a car from a bank at 3.75% interest, deferred payments for a year, and a term of 30 years.


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## ANThonyBoreDaneCook (Oct 7, 2019)

Schmanthony said:


> I'm not sure if I could get a car loan or not, or if I could how good it would be. Gig work (mostly rideshare) is my only income


The last thing you want for ride share is a car loan. This was true then and even more true now.
Buy a $6,000 08/09 Prius, cash.


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## SHalester (Aug 25, 2019)

ANThonyBoreDaneCook said:


> Buy a $6,000 08/09 Prius, cash.


...and then put a bag over you head to hide the embarrassment.


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## Legendary Status (Dec 1, 2020)

ANThonyBoreDaneCook said:


> The last thing you want for ride share is a car loan. This was true then and even more true now.
> Buy a $6,000 08/09 Prius, cash.


08/09 Prius should be around $4-5k now.


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## ColdRider (Oct 19, 2015)

Schmanthony said:


> I do have excellent credit, but I sort of doubt I could get a loan for a car from a bank at 3.75% interest, deferred payments for a year, and a term of 30 years.


Good lord and I thought five - seven years on a car note was awful.

People are actually considering financing a car over 30 years? lmao


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## ANThonyBoreDaneCook (Oct 7, 2019)

SHalester said:


> ...and then put a bag over you head to hide the embarrassment.


If he's driving full time for .50 per mile then this is his best option.
The pax get what they pay for hahaha


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## SHalester (Aug 25, 2019)

ANThonyBoreDaneCook said:


> The pax get what they pay for hahaha


..which is why as pax I cancel until the car that pops up is NOT a precious prius.


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## ANThonyBoreDaneCook (Oct 7, 2019)

SHalester said:


> ..which is why as pax I cancel until the car that pops up is NOT a precious prius.


Well I'm impressed.
Can you change your avi from a puppy to a picture of your hummel figurine collection, pop pop?

I love me some 70 year old elitist uber delivery boys...


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## SHalester (Aug 25, 2019)

ANThonyBoreDaneCook said:


> I love me some 70 year old elitist uber delivery boys...


that a description of you? Just asking.


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## UberBastid (Oct 1, 2016)

Schmanthony said:


> The more I read, the more I'm thinking maybe I am allowed to use the loan for a car.


I went to my lawyer once with an idea ... that I just wanted to run by her.
She explained that it appeared, it _appeared_ that my interpretation of the law was reasonable. She then went on to explain that the District Attorney may not agree with me. And that if he didn't I would be arrested and charged with a felony.
She said that I had a good point, a case; and that I might just win.
And that ... and, here's the important part ... and that she would be happy to represent and defend me _to my last dime. _

If you **** with, and try to get creative with the SBA they will **** you up.

And, this is coming from a guy who routinely fights with the IRS.
It's one thing to owe money to the USA - it's a whole NUTHER thing to _borrow_ money from the USA.

If you want the name and number of my atty let me know; she's good, but you 'll need to drop off a $5k retainer check to even get started.


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## ANThonyBoreDaneCook (Oct 7, 2019)

SHalester said:


> precious prius


I think you may need some new material 
You're kicking this dead horse in the temple


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## SHalester (Aug 25, 2019)

ANThonyBoreDaneCook said:


> I think you may need some new material


did I hit a very very soft spot? Is it 'precious' or 'prius'? Or was it the combo? On I wish Dekero was still here; he'd have fun in this thread.

At least you grew your brain and now know i CAN make fun of the prius because I own one. So, there's that.

otherwise, dude/gal learn ignore.


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## ANThonyBoreDaneCook (Oct 7, 2019)

SHalester said:


> did I hit a very very soft spot? Is it 'precious' or 'prius'? Or was it the combo? On I wish Dekero was still here; he'd have fun in this thread.
> 
> At least you grew your brain and now know i CAN make fun of the prius because I own one. So, there's that.
> 
> otherwise, dude/gal learn ignore.


I just think your material isn't all that great. It's a bit repetitive and boring. You keep recycling the same joke over and over and over.
Just work on it. That's all.


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## Schmanthony (Nov 18, 2017)

Come on guys... I'm not thinking about financing a car for 30 years. And I'm reluctant about financing a car at all for rideshare. My intention was to pay cash for a new (used) car, probably a 4 or 5 year old Camry. The way loans generally work, the longer the term the higher the interest. So 3.75% on 30 years is pretty damn good compared to a typical car loan with a term of 5 to 10 years is all I'm saying. Of course you have the option to pay the loan off as fast as you want/can.

Here's an article that rates the purchase of a vehicle, even for business purposes as "not likely" allowable:

https://www.nav.com/blog/5-ways-you-can-and-cant-use-your-eidl-loan-654030/
It talks about "working capital" which seems to translate loosely to "day to day expenses". So things like fuel, repairs, and maybe even insurance might be covered. Still reading...


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## SteveAvery (Jan 20, 2016)

Got denied due to credit, got the grant though.
Should I try again?


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## SHalester (Aug 25, 2019)

ANThonyBoreDaneCook said:


> It's a bit repetitive and boring


learn ignore. do you need assistance?


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## ANThonyBoreDaneCook (Oct 7, 2019)

SHalester said:


> learn ignore. do you need assistance?


Seriously, you're wasting your comedic talents on this site
You should write for Jimmy Kimmel
He would LOVE your work


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## Jacob THE DRIVER (Dec 4, 2016)

Working4peanuts said:


> I work there. So believe me when I tell you you're a fool if you don't apply. Now.
> 
> You will get a 3.75% loan for 30 years. You qualify for 50% of whatever your Uber/lyft/Uber eats 2019 year end summary shows at the top- before their cut.
> 
> ...


Not true as I did apply way back at the beginning of this mess and was denied because I maxed out my credit cards and score was under 600 and yes the SBA does a hard credit check .


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## ANThonyBoreDaneCook (Oct 7, 2019)

Working4peanuts said:


> If you don't have a 570 credit score, you ain't getting jack





Jacob THE DRIVER said:


> I maxed out my credit cards and score was under 600





Jacob THE DRIVER said:


> Not true


Ugh....
That's what OP told you. Just read.
JFC


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## Jacob THE DRIVER (Dec 4, 2016)

ANThonyBoreDaneCook said:


> Ugh....
> That's what OP told you. Just read.
> JFC


That's what OP told me huh?? Who is OP? Do you have link for whatever the JFC is ???


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## ANThonyBoreDaneCook (Oct 7, 2019)

@Jacob THE DRIVER 
4th from the left


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## nj9000 (Jun 6, 2019)

Schmanthony said:


> The more I read, the more I'm thinking maybe I am allowed to use the loan for a car. This is from SBA.gov:
> 
> It doesn't seem like that much of a stretch that the cost of car ownership could be considered "normal operating expenses". Particularly if it's being used 100% for business, which is a possibility for me.
> 
> I'm not sure if I could get a car loan or not, or if I could how good it would be. Gig work (mostly rideshare) is my only income and has been for about 3 years. I do have excellent credit, but I sort of doubt I could get a loan for a car from a bank at 3.75% interest, deferred payments for a year, and a term of 30 years.


"EIDL proceeds may not be used for:



Payment of any dividends or bonuses;
Disbursements to owners, partners, officers, directors, or stockholders, except when directly related to performance of services for the benefit of the applicant;
Repayment of stockholder/principal loans, except when the funds were injected on an interim basis as a result of the disaster and non-repayment would cause undue hardship to the stockholder/principal;
*Expansion of facilities or acquisition of fixed assets; *
Repair or replacement of physical damages;
Refinancing long term debt;
Paying down (including regular installment payments) or paying off loans provided, or owned by another Federal agency (including SBA) or a Small Business Investment Company licensed under the Small Business Investment Act. Federal Deposit Insurance Corporation (FDIC) is not considered a Federal agency for this purpose;
Payment of any part of a direct Federal debt, (including SBA loans) except IRS obligations. (Note: There is an entire section that goes into more detail on paying federal debts. If you want to use EIDL proceeds that way, refer to page 75 of the SOP.)
Pay any penalty resulting from noncompliance with a law, regulation or order of a Federal, state, regional, or local agency.
Contractor malfeasance; and
Relocation"

A car qualifies as a fixed asset.

More ways the OP doesn't know what they're talking about and following their advice could lead to trouble.


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## ANThonyBoreDaneCook (Oct 7, 2019)

@ColdRider just earned a follow
Love and appreciate his sense of humor


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## Jacob THE DRIVER (Dec 4, 2016)

ANThonyBoreDaneCook said:


> @Jacob THE DRIVER
> 4th from the left
> 
> View attachment 536755


Sorry bro I'm a mexi can't I dont dig ditches like your ancestors. Lmaooooo


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## Meber (Dec 21, 2020)

Can you get a loan based on 2020 income?

How about 2019 income that I haven't filed taxes on yet?


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## Marksb_3000 (May 7, 2020)

I got one of those loans. In my case( your mileage may vary), I had to have an LLC and a business bank account. I jumped thru all the hoops and qualified for $150,000. ( yes, I typed that correctly) I only accepted 10,000 and I will probably send back 6 or 7 grand . It has been a great buffer for me, but be careful how you spend it. You can’t pay back taxes with it, refinance any other debt, or buy a new car with it.


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## UberBastid (Oct 1, 2016)

ANThonyBoreDaneCook said:


> @ColdRider just earned a follow
> Love and appreciate his sense of humor


Please don't encourage or feed the wild animals.


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## Basketball 9to5 (Jun 21, 2020)

Working4peanuts said:


> No. You got $2000, which is half the $4000. If you have income from other ride share companies, you can ask for reconsideration.
> 
> You should get half of your total ride-sharing gross payments.
> 
> [email protected]


What if your fico score is 524?


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## El Impulsador (Apr 29, 2020)

Ex-felons and those currently subject to an indictment that hold more than 20% ownership of the company are not eligible for grant nor loan. I tried to process the loan thru paypal & they told me this.


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## JJGold (Jun 29, 2018)

nj9000 said:


> "EIDL proceeds may not be used for:
> 
> 
> 
> ...


What can it be used for? Very little information out there. I got the $25,000, put it in a separate account and haven't touched it. Still trying to figure out how I can use it and start paying it back.


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## Johnny Mnemonic (Sep 24, 2019)

UberBastid said:


> Name your car, put her on payroll.
> 
> See? This is what I'm talking about doing business with the government.
> It takes a special kind of person to do this. I'm not him.
> ...


IRS agent: "So you're telling me your daughter is named General Lee?"

Borrower: "Yes, Sir. I'm a big fan of The Dukes of Hazzard."


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## ColdRider (Oct 19, 2015)

UberBastid said:


> Please don't encourage or feed the wild animals.


I thought we were cool mayne &#129402;


----------



## Working4peanuts (Jan 16, 2018)

SteveAvery said:


> Got denied due to credit, got the grant though.
> Should I try again?


Yes, definitely. Apply for reconsideration. As long as you can show you make enough money to cover your monthly debt service, you'll get approved the second time.



Meber said:


> Can you get a loan based on 2020 income?
> 
> How about 2019 income that I haven't filed taxes on yet?


No.

And no. You have to file your taxes.

To clear things up for those truly interested in an SBA loan (not for the losers who have nothing better to do than to post bull#$# here)..here is the language from the note you will sign if you are approved:

USE OF LOAN PROCEEDS · Borrower will use all the proceeds of this Loan solely as working capital to alleviate economic injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter and for loans of more than $25,000 to pay Uniform Commercial Code (UCC) lien filing fees and a third-party UCC handling charge of $100 which will be deducted from the Loan amount stated above. REQUIREMENTS FOR USE OF LOAN PROCEEDS AND RECEIPTS · Borrower will obtain and itemize receipts (paid receipts, paid invoices or cancelled checks) and contracts for all Loan funds spent and retain these receipts for 3 years from the date of the final disbursement. Prior to each subsequent disbursement (if any) and whenever requested by SBA, Borrower will submit to SBA such itemization together with copies of the receipts.

So, let's say you get a $10,000 loan. You put it in a separate bank account (or keep good records if you commingle the funds).

You don't buy a car out of that account. You use that account for insurance, repairs, expenses.

You use your current earnings to put down a down payment to buy a car. You can use the SBA money to make car payments.

It's not rocket science. Just follow the rules.



Jacob THE DRIVER said:


> Not true as I did apply way back at the beginning of this mess and was denied because I maxed out my credit cards and score was under 600 and yes the SBA does a hard credit check .


You are correct. SBA generally does not loan money to deadbeats. And definitely not to those convicted of a felony within the past 5 years. I did state in a later post that you need a 570 credit score, but even that can be overcome in the reconsideration process with proof that you are able to pay back your loans. And not only does SBA do a hard credit check (it does not show up on everyone's CR though), they get your tax transcripts from the IRS. And lastly, they'll call your ex-wife to find out what kind of dooshebag you are.


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## Schmanthony (Nov 18, 2017)

Working4peanuts said:


> Yes, definitely. Apply for reconsideration. As long as you can show you make enough money to cover your monthly debt service, you'll get approved the second time.
> 
> 
> No.
> ...


Thanks for the information. I was already starting to come to the conclusion that you could make payments on a debt, but not pay off a debt. Fine line there. You're probably safest making only the minimum required payments with the EIDL funds.

I might make a large down payment on a vehicle and try to get a small short term car loan to basically upgrade the vehicle to something beyond what I could pay cash for, then use the EIDL funds to make the loan payments.

Can you keep the EIDL funds in a savings account and collect interest on it, making periodic withdrawals to cover your working capital?


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## UberBastid (Oct 1, 2016)

ColdRider said:


> I thought we were cool mayne &#129402;


We are ... but, I recognize a wild animal when I see one ... because, I am one too.
Just trying to help the ANThony out.



Schmanthony said:


> Can you keep the EIDL funds in a savings account and collect interest on it, making periodic withdrawals to cover your working capital?


You keep looking for loopholes, and you'll find a noose.


----------



## nj9000 (Jun 6, 2019)

Working4peanuts said:


> Yes, definitely. Apply for reconsideration. As long as you can show you make enough money to cover your monthly debt service, you'll get approved the second time.
> 
> 
> No.
> ...


The only people who should be accepting these loans are those ready to hire a lawyer.


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## Working4peanuts (Jan 16, 2018)

Sba has made 37,000,000 eidl loans since March. Only losers got denied.

No lawyers needed. I've approved people who could barely speak English. We are here to help... Unlike the people who post garbage here about how the govt will come after you. They won't unless you take out millions of dollars of loans. They don't have the staff or the political mandate to waste time auditing $20k loans.


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## nj9000 (Jun 6, 2019)

Working4peanuts said:


> Sba has made 37,000,000 eidl loans since March. Only losers got denied.
> 
> No lawyers needed. I've approved people who could barely speak English. We are here to help... Unlike the people who post garbage here about how the govt will come after you. They won't unless you take out millions of dollars of loans. They don't have the staff or the political mandate to waste time auditing $20k loans.


So are you saying its ok to flaunt the rules you posted? Sure :thumbup: just more idiotic advice on your part.

Funny how you dodge getting called out on your own incompetence. Earlier in the thread you were saying people should be buying used cars with the money, then you flip flop after I post that its expressly forbidden; won't even admit how you were wrong before. Now its about what, using it to make your car payments? I'm sure the SBA would be fine with that, for a car payment you didn't have going into the pandemic.

edit: FYI, I got mine approved yesterday.

ITT: @Working4peanuts claiming this is easy and automatic, though its been common knowledge for months that the SBA has been strict about fraud prevention and there's been plenty of false positives. If you get caught up in that, he engages in personal attacks and calls you a loser all because it undermines him being right. Won't acknowledge a different point of view because he can't handle possibly being wrong. All while @ANThonyBoreDaneCook swings from his nuts at every opportunity with little passive-aggressive emoji reactions.


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## Jarl Varg (Dec 1, 2020)

ColdRider said:


> Good lord and I thought five - seven years on a car note was awful.
> 
> People are actually considering financing a car over 30 years? lmao


Rideshare drivers are so stupid and very bottom of society. Getting a personal car loan is not hard even with bad credit and these idiots are getting Federal loans for 30 years to buy a used Prius. There is a reason they are uberlings.


----------



## Jarl Varg (Dec 1, 2020)

Usury is evil! Just ask Shylocks how his loan worked out for him!


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## Amos69 (May 17, 2019)

I applied today / yesterday. They offered me a loan of $150,000. I pared it back to $75,000. It was indeed super easy, and since I am incorporated I didn't have to send them any documents as of yet.



Schmanthony said:


> Thanks for the information. I was already starting to come to the conclusion that you could make payments on a debt, but not pay off a debt. Fine line there. You're probably safest making only the minimum required payments with the EIDL funds.
> 
> I might make a large down payment on a vehicle and try to get a small short term car loan to basically upgrade the vehicle to something beyond what I could pay cash for, then use the EIDL funds to make the loan payments.
> 
> Can you keep the EIDL funds in a savings account and collect interest on it, making periodic withdrawals to cover your working capital?


You cannot purchase hard assets with the EIDL therefore you cannot purchase a sweet new whip for rideshare. I suggest everyone open a separate account to keep their EIDL in and track usage from that account. All 5 of my businesses have separate accounts to avoid comingle.



Schmanthony said:


> Thanks for the information. I was already starting to come to the conclusion that you could make payments on a debt, but not pay off a debt. Fine line there. You're probably safest making only the minimum required payments with the EIDL funds.
> 
> I might make a large down payment on a vehicle and try to get a small short term car loan to basically upgrade the vehicle to something beyond what I could pay cash for, then use the EIDL funds to make the loan payments.
> 
> Can you keep the EIDL funds in a savings account and collect interest on it, making periodic withdrawals to cover your working capital?


You cannot purchase hard assets with the EIDL therefore you cannot purchase a sweet new whip for rideshare. I suggest everyone open a separate account to keep their EIDL in and track usage from that account. All 5 of my businesses have separate accounts to avoid comingle.


----------



## Schmanthony (Nov 18, 2017)

Amos69 said:


> I applied today / yesterday. They offered me a loan of $150,000. I pared it back to $75,000. It was indeed super easy, and since I am incorporated I didn't have to send them any documents as of yet.
> 
> 
> You cannot purchase hard assets with the EIDL therefore you cannot purchase a sweet new whip for rideshare. I suggest everyone open a separate account to keep their EIDL in and track usage from that account. All 5 of my businesses have separate accounts to avoid comingle.
> ...


You're a few steps behind. In my post that you quoted I am not saying that I'm going to buy a car with the funds. I am saying that I would consider buying a car with a large down payment AND a small car loan. Then the EIDL funds could, I think, be used to make the payments on the car loan. From what I've read, it also seems possible to make credit card payments with the funds if you are in that situation. But paying off a large credit card debt down to 0 all at once - that would be a problem. Now where the line is between making the minimum payments with the loan and paying the balance down too far too fast I'm not sure.


----------



## ANThonyBoreDaneCook (Oct 7, 2019)

nj9000 said:


> The only people who should be accepting these loans are those ready to hire a lawyer.





nj9000 said:


> I would be very wary of accepting this loan





nj9000 said:


> Not like I'm missing out on much, getting in debt with the government is never a good idea.













nj9000 said:


> edit: FYI, I got mine approved yesterday.


----------



## MasterC (Jan 31, 2018)

I applied on Monday with a 520 credit. Still waiting to see what happens.
I will update the board when I get news.


----------



## Disgusted Driver (Jan 9, 2015)

I've seen the pros and cons. I took the loan, got 1k free money (national debt! ) and am additional 9k loan. Took said money and bought stocks with it, made 21% . Sold stocks and bought a condo, should make 5% on that plus a bonus when I sell it. 

Thanks for the cheap money, I will happily take it and invest it, I've done that for years. Dave Ramsey's advice is fine for undisciplined spenders or people who don't have an appetite for risk but I have consistently made money from cheap money for the last 30 years. Nothing wrong with debt if you use it well.


----------



## UberBastid (Oct 1, 2016)

Working4peanuts said:


> Sba has made 37,000,000 eidl loans since March. Only losers got denied.
> 
> No lawyers needed. I've approved people who could barely speak English. We are here to help... Unlike the people who post garbage here about how the govt will come after you. They won't unless you take out millions of dollars of loans. They don't have the staff or the political mandate to waste time auditing $20k loans.


Yea, that's what YOU see.
But, there's another department ... somewhere nearby.
With a bunch of minimum-wage drones just like you; but, their job is to look at duplicate applications from the same person or company.
Their orders are to look at both aps, and compare. If there are large discrepancies then flag it for fraud. That's all they have to do.
BUT, the computer takes over and sends a letter to the applicant demanding immediate and full payment with penalties and interest.
At 90 days it is sent to collections. Bank accounts are emptied, liens are filed, etc.

You don't like those actions? Go hire an attorney.
Hope the $10k you got was enough.

"people who post garbage here about how the govt will come after you", I dunno about those other people, but I post that 'garbage' because it has actually happened to me. More than once.
I have found government drones to be very unpredictable, and dangerous. 
I prefer to help myself, and I can - so far.

I recently got a $7000 limit Visa card with an interest rate of 3%.


----------



## Working4peanuts (Jan 16, 2018)

UberBastid said:


> Yea, that's what YOU see.
> But, there's another department ... somewhere nearby.
> With a bunch of minimum-wage drones just like you; but, their job is to look at duplicate applications from the same person or company.
> Their orders are to look at both aps, and compare. If there are large discrepancies then flag it for fraud. That's all they have to do.
> ...


I give you 3 months to max it out then have your interest rate increased to 25%. Good luck with that.


----------



## SHalester (Aug 25, 2019)

Working4peanuts said:


> I give you 3 months to max it out then have your interest rate increased to 25%. Good luck with that.


for tone, balance & accuracy most credit card interest rate promos are for at least 6 months; most 12 months. Too bad a bunch of people fail to heed that and really mess up credit wise with a high balance and no way to pay it off.

Credit card companies hate me: I pay off the stmt balance; no interest charged.....ever....

Now if the SBA would ever get back to me, that would be grand. They got my taxes and that was that.


----------



## UberBastid (Oct 1, 2016)

Working4peanuts said:


> I give you 3 months to max it out then have your interest rate increased to 25%. Good luck with that.


IF that happens, it won't be the only one maxed out.
And IF that happens I will go BK on over a half million in loans.
And ... the government won't be after me for money I owe them.
Because I will owe the government ... nothing.


----------



## MasterC (Jan 31, 2018)

Day 3 no answer from SBA as yet............... Not holding my breath... again


----------



## Bbonez (Aug 10, 2018)

Working4peanuts said:


> Show me a used car loan for 3.75%. that's rhetorical. You can't.


----------



## JV_620 (Sep 17, 2017)

I thought that they stopped accepting applications on 12/21?? I have not applied yet myself.


----------



## 20yearsdriving (Dec 14, 2014)

Investmentors who drive Uber are an oxymoron...


----------



## SHalester (Aug 25, 2019)

MasterC said:


> Day 3 no answer from SBA as yet............... Not holding my breath... again:smiles:


only day 3? I'm on like month 4 waiting after they requested my tax transcripts. Well, not really waiting; but was curious. I guess their way to TD my request was to never say anything. FINE, be that way.


----------



## UberBastid (Oct 1, 2016)

SHalester said:


> only day 3? I'm on like month 4 waiting after they requested my tax transcripts. Well, not really waiting; but was curious. I guess their way to TD my request was to never say anything. FINE, be that way.


It's very Uber-esque ... but, you're used to that by now, yes?


----------



## Skystar (Jun 8, 2020)

.
Info on EIDL loans - https://www.merchantmaverick.com/eidl-vs-ppp-loans


----------



## Schmanthony (Nov 18, 2017)

I'm at the screen where I have to choose how much of a loan I want to "accept". The full amount (half of my 2019 revenue) is way too much. How much time do I have to to think about this?


----------



## UberBastid (Oct 1, 2016)

Schmanthony said:


> I'm at the screen where I have to choose how much of a loan I want to "accept". The full amount (half of my 2019 revenue) is way too much. How much time do I have to to think about this?


You have the right to remain silent.
You have the right to have an attorney present during questioning.
Anything you say, can and will be used against you.
Do you understand these rights as I have explained them to you?

Do you understand these rights?


----------



## Amos69 (May 17, 2019)

Schmanthony said:


> I'm at the screen where I have to choose how much of a loan I want to "accept". The full amount (half of my 2019 revenue) is way too much. How much time do I have to to think about this?


I was offered $150,000 I chose $75,000

By now you should have a decent idea of what is best for you and your business.


----------



## HonkyTonk (Oct 27, 2019)

Johnny Mnemonic said:


> Pass,
> 
> Hard Pass.


Had to quit listening to Dave Ramsey because of his voice. Sounds like a cartoon character. Good advice, but dang, that voice.


----------



## Johnny Mnemonic (Sep 24, 2019)

HonkyTonk said:


> Had to quit listening to Dave Ramsey because of his voice. Sounds like a cartoon character. Good advice, but dang, that voice.


He does sound a bit "Yosemite Sam." But I thought you would be used to a drawl like that being from Tennessee.

The fake cussing bothers me the most. "Dang gum freakin' stupid-butt thing to do."

Haven't seen you on here in a while. Are you still doing ride-share?


----------



## nurburgringsf (Aug 26, 2016)

Chances are very good that the SBA loans will be forgiven. I know a couple of business owners who got SBA loans and their businesses dropped by 90% and then closed down for good. 

Very low chance you will have to pay all of it back. Maybe 15-30% of it or maybe nothing at all.

I leave the app on all day and only get a ping every couple of hours.


----------



## JV_620 (Sep 17, 2017)

So the payments are deferred for 1 year as well...tempting...


----------



## Working4peanuts (Jan 16, 2018)

Schmanthony said:


> I'm at the screen where I have to choose how much of a loan I want to "accept". The full amount (half of my 2019 revenue) is way too much. How much time do I have to to think about this?


Take your time. Until you accept the offer your application is in limbo. Might be 30 days before you have to restart. Not sure. You can always reduce it once your loan is processed.

Program extended until end of 2021 now.


----------



## BigPoppaNJ (May 22, 2018)

Working4peanuts said:


> Just take the money, buy tsla, wait two weeks until it doubles, sell, pay back sba and then spend the money on hookers.
> 
> This isn't complicated.


Wish it was that easy. If you get audited, you have to account for every penny of the money, and you can use the loan for investments..... of course, not everyone gets an audit.....


----------



## Working4peanuts (Jan 16, 2018)

BigPoppaNJ said:


> Wish it was that easy. If you get audited, you have to account for every penny of the money, and you can use the loan for investments..... of course, not everyone gets an audit.....


Not sure why you're so concerned with an audit. Your expenses will go on even after you get the loan. Doesn't matter if you separate the funds or commingle them, if you do get audited (which I sincerely doubt considering the sheer number of loans we've made), you only have to show receipts/bank statements for payments made for your expenses. You do not have to show which pot you took it out of.

Sba is not going to hire people to audit $20000 loans. This i guarantee.

While you were stressing out about an audit, tsla went up another $70.


----------



## Cuban Hottie (Dec 31, 2020)

Working4peanuts said:


> Not sure why you're so concerned with an audit. Your expenses will go on even after you get the loan. Doesn't matter if you separate the funds or commingle them, if you do get audited (which I sincerely doubt considering the sheer number of loans we've made), you only have to show receipts/bank statements for payments made for your expenses. You do not have to show which pot you took it out of.
> 
> Sba is not going to hire people to audit $20000 loans. This i guarantee.
> 
> While you were stressing out about an audit, tsla went up another $70.


Do you get paid commission per application or is it a bonus type thing if so many apply at a given time?


----------



## Working4peanuts (Jan 16, 2018)

Cuban Hottie said:


> Do you get paid commission per application or is it a bonus type thing if so many apply at a given time?


Neither. Ever hear of people doing things just to help others?

I got my biggest tips with Uber when I did nice things for people without expecting anything in return. You should try it sometime.


----------



## Daisey77 (Jan 13, 2016)

Schmanthony said:


> Thank you so much for posting this. I went and applied right away. I might actually use this loan to buy a new (used) car. Provided it's allowed and it all plays out like the OP suggests. We shall see.
> 
> EDIT: looks like a car is a no go (unless maybe I get another loan for it first?)
> 
> ...


You can use to make the payments on a car. So get the car and then make the payment with the loan. You just can't pay ahead. You can also use it to pay your rent and utilities. So if you use the money for that, your rent and utility money is freed up to use as a down payment or on something the SBA loan money can't be used for


JJGold said:


> What can it be used for? Very little information out there. I got the $25,000, put it in a separate account and haven't touched it. Still trying to figure out how I can use it and start paying it back.


You can use it for rent, utilities, and operating expenses like vehicle and maintenance. Now as far as paying it back, that's a great question because I have not heard anything from them ever since they gave me the money. That's a little concerning


JV_620 said:


> I thought that they stopped accepting applications on 12/21?? I have not applied yet myself.


I know they're redoing the program with this new Relief act. There's a lot more Hoops to jump through I guess


----------



## New2This (Dec 27, 2015)

Working4peanuts said:


> Neither. Ever hear of people doing things just to help others?
> 
> I got my biggest tips with Uber when I did nice things for people without expecting anything in return. You should try it sometime.


https://www.nav.com/blog/new-eidl-grants-do-you-qualify-777085/
Any word on the new EIDL grants? All I saw was this. It specifies "low-income areas". I don't live in a low-income area but sometimes drove in one. Does that count? For once I'm not trolling or being a smartass, genuinely curious.

If we got $1,000 before, does this mean we automatically qualify for the other $9,000?

Any insight is appreciated.

Most Uber drivers:


----------



## Daisey77 (Jan 13, 2016)

New2This said:


> https://www.nav.com/blog/new-eidl-grants-do-you-qualify-777085/
> Any word on the new EIDL grants? All I saw was this. It specifies "low-income areas". I don't live in a low-income area but sometimes drove in one. Does that count? For once I'm not trolling or being a smartass, genuinely curious.
> 
> If we got $1,000 before, does this mean we automatically qualify for the other $9,000?
> ...


I think those qualifications such as living in a low-income area are for a completely new applicants.

As far as the $10,000 advance , it sounds like money has now been made available and it will be prioritized to those who did not receive the advance at all and to those who did not receive full amount of $10,000. It sounds like we're waiting on guidelines to be announced on the who and how they determine gets more more advance money


----------



## Free willy (Oct 11, 2020)

New2This said:


> https://www.nav.com/blog/new-eidl-grants-do-you-qualify-777085/
> Any word on the new EIDL grants? All I saw was this. It specifies "low-income areas". I don't live in a low-income area but sometimes drove in one. Does that count? For once I'm not trolling or being a smartass, genuinely curious.
> 
> If we got $1,000 before, does this mean we automatically qualify for the other $9,000?
> ...


I wouldn't expect anything in addition to what you already received.

Continue being a Smart Ass - it'll cheer you up, now that you know you are getting diddly squat from this new stimulus package.


----------



## New2This (Dec 27, 2015)

Daisey77 said:


> I think those qualifications such as living in a low-income area are for a completely new applicants.
> 
> As far as the $10,000 advance , it sounds like money has now been made available and it will be prioritized to those who did not receive the advance at all and to those who did not receive full amount of $10,000. It sounds like we're waiting on guidelines to be announced on the who and how they determine gets more more advance money


Could be. This is from the article I posted. I highlighted the parts (I think) we'd qualify for:

*************************************************
Worth noting: Businesses that applied for an EIDL- even earlier in 2020- and meet the qualifications may receive the full $10,000 grant (minus any amount already received) _even if their EIDL applications were not approved_.

[HEADING=1]*How do I qualify for the new emergency EIDL grant?*[/HEADING]
To qualify for the full emergency $10,000 EIDL grant, a business must:


Be located in a low-income community, and
Have suffered an economic loss greater than 30%, and
Employ not more than 300 employees
In addition, the business must qualify as an eligible entity as defined in the CARES Act:


A small business, cooperative, ESOP Tribal concern, with fewer than 500 employees*
An individual who operates under as a sole proprietorship, with or without employees, or as an independent contractor; or
A private non-profit or small agricultural cooperative.
The business must have been in operation by January 31, 2020
The business must be directly affected by COVID-19

*************************************************
I meet all that except living in a low-income area. Gimme my $9,000. &#128527;



Free willy said:


> I wouldn't expect anything in addition to what you already received.
> 
> Continue being a Smart Ass - it'll cheer you up, now that you know you are getting diddly squat from this new stimulus package.


I'm either smartass or dumbass. Sometimes both.


----------



## ShibariLover (Mar 3, 2019)

Ugg...so at some point, though I really don’t remember what it was, I got $1000, but I needed 10k! So, I have heard nothing about repaying this or even when that begins. Was the 1k grant and I never have to pay it back or was it a loan and how do I get it forgiven? I am so confused over what application (sba? Or other) I should apply for. Any links to help with that would be great. How the heck do I get a loan for more than 1k to help me since I have basically been unemployed since April. I think I got the 1k from the SBA. I am unsure if I am supposed to fill out the first wave or second wave application. Is there some person I should contact for help with what I should be filling out? Do I use my 2019 1099 income? So damned confusing.


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## Daisey77 (Jan 13, 2016)

@ShibariLover

If it was the loan, there is no forgiving it. You're responsible for that. If it was the advance oh, you don't have to pay it back. Did it just show up in your bank account one day or did they send you an e-mail with the link to go in and sign something? I got the loan Plus the advance and I haven't heard anything from them ever since. So I have no idea information on how to pay it back


----------



## ANThonyBoreDaneCook (Oct 7, 2019)

Daisey77 said:


> If it was the loan, there is no forgiving it. You're responsible for that. If it was the advance oh, you don't have to pay it back. Did it just show up in your bank account one day or did they send you an e-mail with the link to go in and sign something? I got the loan Plus the advance and I haven't heard anything from them ever since. So I have no idea information on how to pay it back


https://www.pay.gov/public/search/a...PAYMENT&searchType=AGENCYPAYMENT&agencyId=905


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## Daisey77 (Jan 13, 2016)

ANThonyBoreDaneCook said:


> https://www.pay.gov/public/search/a...PAYMENT&searchType=AGENCYPAYMENT&agencyId=905


Thank you! How did you find this? Have you heard anything from them at all since the loan? It just seems weird to me that they haven't made any contact at all and I have $34,000 of theirs


----------



## ShibariLover (Mar 3, 2019)

Daisey77 said:


> @ShibariLover
> 
> If it was the loan, there is no forgiving it. You're responsible for that. If it was the advance oh, you don't have to pay it back. Did it just show up in your bank account one day or did they send you an e-mail with the link to go in and sign something? I got the loan Plus the advance and I haven't heard anything from them ever since. So I have no idea information on how to pay it back


I believe it just showed up. I never signed even electronically for it, so this is a grant then. That's good news. Now how do I go about getting more and a dam loan!


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## ANThonyBoreDaneCook (Oct 7, 2019)

Daisey77 said:


> Thank you! How did you find this? Have you heard anything from them at all since the loan? It just seems weird to me that they haven't made any contact at all and I have $34,000 of theirs


https://pay.gov/public/home is how you pay them

I haven't heard anything either but I received my loan at the end of July 2020. It seems as though you have to use the same email portal that you used to apply in order to access your account, but that's just to update contact info, etc...

I guess they'll eventually set up a monthly payment schedule but I wouldn't wait for them to do so. Your first payment is due a year after you took the loan. When you get close to that date, I would call them and get some clarification.


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## UberBastid (Oct 1, 2016)

We are going to be SO ****ed when all this comes due ...


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## Daisey77 (Jan 13, 2016)

ShibariLover said:


> I believe it just showed up. I never signed even electronically for it, so this is a grant then. That's good news. Now how do I go about getting more and a dam loan!


I don't know. I just randomly got an email one day that gave me a link to a portal to sign into and the terms of my loan were in that portal


----------



## SHalester (Aug 25, 2019)

ShibariLover said:


> I believe it just showed up. I never signed even electronically for it, so this is a grant then. That's good news. Now how do I go about getting more and a dam loan!


same boat. But I did get email requesting I sign an IRS form that would allow SBA to get my taxes from the last 3 years. Did that, sent it to them and that was that last of that. 
Got the $1k, tho. Maybe my taxes were so funny they couldn't get back off the floor to even tell me TURN DOWN. <sigh> Wasn't going to accept the loan anyway, but was curious what they might offer.


----------



## Amos69 (May 17, 2019)

SHalester said:


> same boat. But I did get email requesting I sign an IRS form that would allow SBA to get my taxes from the last 3 years. Did that, sent it to them and that was that last of that.
> Got the $1k, tho. Maybe my taxes were so funny they couldn't get back off the floor to even tell me TURN DOWN. <sigh> Wasn't going to accept the loan anyway, but was curious what they might offer.


I also sent in my authorization for tax forms

I was politely declined.


----------



## Disgusted Driver (Jan 9, 2015)

I got a 1k grant and 9k loan. I get a statement in the mail each month even though no payment is due to summer.


----------



## SHalester (Aug 25, 2019)

Amos69 said:


> I was politely declined.


well, that's not fair. I never heard back. Sent an email monthly asking for an update. zip. Gave up and deleted the email. the interest rate was only a bit better than the credit line I have already, so no need for another one. But WAS curious if they would approve and at what limit.


----------



## Daisey77 (Jan 13, 2016)

Disgusted Driver said:


> I got a 1k grant and 9k loan. I get a statement in the mail each month even though no payment is due to summer.


Seriously? Well what the hell? I don't know anyone else who's getting a statement. It makes me nervous.


----------



## UberBastid (Oct 1, 2016)

Daisey77 said:


> Seriously? Well what the hell? I don't know anyone else who's getting a statement. It makes me nervous.


That makes you nervous?
That you'd have to make payments on a loan?
That you are contractually obligated to pay back all that money?

Why does it make you nervous?


----------



## Daisey77 (Jan 13, 2016)

UberBastid said:


> That makes you nervous?
> That you'd have to make payments on a loan?
> That you are contractually obligated to pay back all that money?
> 
> Why does it make you nervous?


I got commitment issues LOL JK no it makes me nervous that most of us have not heard one word from them. Absolutely nothing since they deposited the money. Wouldn't you think they would send you statements or SOMETHING? I mean do 
they realize they gave thousands and thousands and thousands of dollars to the wayward children of Uber? &#128517;


----------



## UberBastid (Oct 1, 2016)

Daisey77 said:


> I mean do
> they realize they gave thousands and thousands and thousands of dollars to the wayward children of Uber? &#128517;


Maybe not, but it shows that they never forget.
And I've had little experience with mercy when it comes to owing the US Gov't money.


----------



## Working4peanuts (Jan 16, 2018)

Daisey77 said:


> Seriously? Well what the hell? I don't know anyone else who's getting a statement. It makes me nervous.


No one is getting a statement yet for sba eidl loans. Chill out.



Amos69 said:


> I also sent in my authorization for tax forms
> 
> I was politely declined.


You need to request reconsideration. Unless you didn't file your taxes, or if your application was so different than your tax return, that is not the reason you were declined.

I approve several Uber loans every day. I go out of my way to help the idiots get the money.



SHalester said:


> well, that's not fair. I never heard back. Sent an email monthly asking for an update. zip. Gave up and deleted the email. the interest rate was only a bit better than the credit line I have already, so no need for another one. But WAS curious if they would approve and at what limit.


I started this thread over a month ago and you're still bragging how rich you are and how you don't need the money? For real?



Amos69 said:


> I was offered $150,000 I chose $75,000
> 
> By now you should have a decent idea of what is best for you and your business.


You make $300,000 a year doing Uber? I find that hard to believe. Assuming you applied for a real business.


----------



## SHalester (Aug 25, 2019)

Working4peanuts said:


> you're still bragging how rich you are and how you don't need the money? For real?


for real. And, you must have also seen I always ask what is 'rich' on this site. One who can pay their bills on time? Or some other milestone?
But yes, I post what happened with me with SBA. I see no reason to inflate or deflate the truth. And I also don't shy away from the fact I don't do RS because I depend on the income.
You can't deal, please, I'd be honored to be in your ignore list. Make my day. Make your day.

And...have a nice day. OK?


----------



## Working4peanuts (Jan 16, 2018)

nj9000 said:


> So are you saying its ok to flaunt the rules you posted? Sure :thumbup: just more idiotic advice on your part.
> 
> Funny how you dodge getting called out on your own incompetence. Earlier in the thread you were saying people should be buying used cars with the money, then you flip flop after I post that its expressly forbidden; won't even admit how you were wrong before. Now its about what, using it to make your car payments? I'm sure the SBA would be fine with that, for a car payment you didn't have going into the pandemic.
> 
> ...


Angry at life much?


----------



## Amos69 (May 17, 2019)

Working4peanuts said:


> No one is getting a statement yet for sba eidl loans. Chill out.
> 
> 
> You need to request reconsideration. Unless you didn't file your taxes, or if your application was so different than your tax return, that is not the reason you were declined.
> ...


I actually used my account for the house not my one for the other businesses including RS. This was probably my issue. Yes.


----------



## New2This (Dec 27, 2015)

I


Working4peanuts said:


> No one is getting a statement yet for sba eidl loans. Chill out.
> 
> 
> You need to request reconsideration. Unless you didn't file your taxes, or if your application was so different than your tax return, that is not the reason you were declined.
> ...


There has been much speculation about the possibility of the remaining $9,000 advance/grant/call it what you want from the EIDL.

There was supposed to be updates as of January 17th but I haven't seen anything.

Do you have any insight?

Asking for a friend. &#129300;


----------



## Working4peanuts (Jan 16, 2018)

New2This said:


> I
> 
> There has been much speculation about the possibility of the remaining $9,000 advance/grant/call it what you want from the EIDL.
> 
> ...


Someone posted a link about it. More than I knew. I'm sure they'll tell us next week when they figure it out. Looks like you'll have to receive an invitation to get it.


----------



## New2This (Dec 27, 2015)

Working4peanuts said:


> Someone posted a link about it. More than I knew. I'm sure they'll tell us next week when they figure it out. Looks like you'll have to receive an invitation to get it.


Ok. I've seen an article but it was from December.

Nothing new on Google.


----------



## akwunomy (Jan 12, 2020)

SHalester said:


> well, there is. Take somebody who goes for the loan, spends away and then has no way to repay the loan.....ever.... ooopsie.


If you can't pay and you have nothing to loose...is called bankruptcy



Taxi2Uber said:


> I've never had a credit card in my life.
> I haven't had a loan since 1998.
> I'm debt free.
> Is that smart or dumb?
> According to the OP, I'm a fool for not going into debt.


I know someone who have the same theory...I spend all the credit card and stuff and still filled for bankruptcy...and debt free...in this country...it depend how you play it...but believe me...those that write all these banking laws here...take advantage of lots of stuff...and they are still better off...


----------



## UberBastid (Oct 1, 2016)

I am SO ****ing glad I didn't get involved with borrowing money from the federal government.
Holey shit, talk about doing business with the devil.

You guys don't know how much you 'borrowed', how much was 'gifted', or when or if you need to pay it back and if so under what terms.

If a bank did that you'd all be screaming for them to be shut down.

Ooops. I forgot.
We're gonna be just fine.
Joe is here to save us now.


----------



## Daisey77 (Jan 13, 2016)

UberBastid said:


> I am SO @@@@ing glad I didn't get involved with borrowing money from the federal government.
> Holey shit, talk about doing business with the devil.
> 
> You guys don't know how much you 'borrowed', how much was 'gifted', or when or if you need to pay it back and if so under what terms.
> ...


Hey now, I know how much I borrowed, how much was gifted, what needs to be paid back AND my terms. . . Thank you very much


----------



## nj9000 (Jun 6, 2019)

Working4peanuts said:


> Angry at life much?


You'd be pissed off too if the SBA gave you a run around for months and gave out the "grant" to people who applied after you, but you didn't get it.


----------



## Working4peanuts (Jan 16, 2018)

nj9000 said:


> You'd be pissed off too if the SBA gave you a run around for months and gave out the "grant" to people who applied after you, but you didn't get it.


The grant is only $1000 for Uber drivers. $1000 per employee.

I understand your frustration though. It is, after all, the government. Run by govt employees. Dysfunction and incompetence run rampant. Welcome to bureaucracies.


----------



## UberBastid (Oct 1, 2016)

Working4peanuts said:


> Welcome to bureaucracies.


Meet the new boss.
Same as the old boss.


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## Working4peanuts (Jan 16, 2018)

Anyone who wants me to look at their application and tell them what to do to get it "unstuck" or whatever, you can dm me the application number. 

Please, no need for you conspiracy nuts to post more nonsense. No one is forcing anyone to do this. Those that want the help will get it.


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## SHalester (Aug 25, 2019)

I wonder: if I post I'm still waiting for a TD letter after months if that is nonsense too? hahahahaha


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## Working4peanuts (Jan 16, 2018)

SHalester said:


> I wonder: if I post I'm still waiting for a TD letter after months if that is nonsense too? hahahahaha


Why can't you accept responsibility for your own failures? Man up already.

It's not anyone's fault but your own that you haven't been approved.

Stop blaming sba. Get on the phone and call to find out what you need to do to get your share of the government cheese. Or stfu. No one wants to hear your constant whining.

Every day thousands of small business owners get approved.

This is what's wrong with america. Too many entitled you know whats.


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## SHalester (Aug 25, 2019)

Working4peanuts said:


> Why can't you accept responsibility for your own failures?


My failures? Can you detail those for me?

and for tone, balance and accuracy I was neither approved or TD. Please stick to facts as they are, not as you want them to be.

Nobody wants to hear you endlessly jump around with your judgement. You whine a lot about others, have you noticed that?

Perhaps you enjoy using the phone; stuck in the past? Most of us have moved on to faster communication methods.

You are projecting. It is you who is entitled and dependent.

I rec'd the grant, no need for the loan. HOWEVER, common decency requires either an approval or a turn-down in a reasonable amount of time. If that is above your understanding, well that would explain a lot.

Next.


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## Working4peanuts (Jan 16, 2018)

SHalester said:


> My failures? Can you detail those for me?
> 
> and for tone, balance and accuracy I was neither approved or TD. Please stick to facts as they are, not as you want them to be.
> 
> ...


You're an Uber driver. Need I say more about your failures?

Again, you can call. But I see you're too entitled to do that.


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## SHalester (Aug 25, 2019)

Working4peanuts said:


> You're an Uber driver.


that must be like the other thread here where if you are a RS driver one should feel shame. Really? Do you subscribe to that? Or did it occur to you AFTER you quit being a driver? <oops>

Was it your career? Sole source of income? It's ok, you can own that. NO judgement.

I had my 32+ year career and then retired. A few years later began gigs to pass the time. If that is 'failing' I'd like to know what 'winning' is in your book.

You are so entiled you are blind to real world. Go out, look around; it will do you some good.


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## Taxi2Uber (Jul 21, 2017)

So I recently received a 'Decline Letter' email from SBA......finally.

My SBA timeline:
I originally applied on 4/10/20.
Got the 'approval' on 6/9/20, to proceed to the next/final step in securing the loan.
(As I stated earlier, I had decided not to get the loan as I didn't need or want it)
I called SBA about some details, and was told I didn't need to do anything and the loan offer will just time out in either 60 or 90 days, I can't remember now.
I received several email reminders through 7/25/20, to proceed with final step to get the loan, then they stopped.
Then on 1/15/21, 7 months(!) after being 'approved', I finally received a Decline Letter because of, as they say, my 'request for withdrawal or inactivity.'
Also, in the letter there are instructions for me if I want to request reacceptance.

I guess they REALLY wanted me to get that loan.


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## Amos69 (May 17, 2019)

Working4peanuts said:


> Why can't you accept responsibility for your own failures? Man up already.
> 
> It's not anyone's fault but your own that you haven't been approved.
> 
> ...


The gal I was "talking to" was most unhelpful. She seemed preoccupied with the fact I was in Hawaii taking care of business here while I was applying there in Washington. I asked he point blank If I should change the structure of my claim or apply for a different business license, etc.

She couldn't get off the fact I am in Hawaii taking care of different businesses.


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## Working4peanuts (Jan 16, 2018)

Taxi2Uber said:


> So I recently received a 'Decline Letter' email from SBA......finally.
> 
> My SBA timeline:
> I originally applied on 4/10/20.
> ...


Bull.

First of all, you didn't get an approval in June. You were instructed to accept an amount should you successfully complete the application process and get approved for a loan in the future.

Secondly, if you didn't want the loan, why did you call sba for "details?"

Lastly, if an applicant tells us they're no longer interested, we immediately close the application.

Another moron trying to discourage people from getting their cheese.


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## Taxi2Uber (Jul 21, 2017)

Working4peanuts said:


> First of all, you didn't get an approval in June. You were instructed to accept an amount should you successfully complete the application process and get approved for a loan in the future.


Actually, what I said was, _"Got the 'approval' on 6/9/20, to proceed to the next/final step in securing the loan."_
If you weren't in such a hurry to disagree with everyone, you would have got the gist. Or not.


Working4peanuts said:


> Secondly, if you didn't want the loan, why did you call sba for "details?"


As I said earlier in the thread, but didn't want to have to explain it again (until now that you 'forced' me), I called because I didn't get the $1000 advance and I had questions about it, and while I had her on the phone, I asked about if I didn't want the loan and the steps needed to withdraw my application.



Working4peanuts said:


> Lastly, if an applicant tells us they're no longer interested, we immediately close the application.


If by 'we', you mean 'you', then that's fine.
But the lady I spoke to told me to just let the process time out.
I don't know why it is such an issue with you.
Why would I lie about such a pointless issue and nothing to gain?



Working4peanuts said:


> Another moron trying to discourage people from getting their cheese.


You have me confused with someone else.
Show me in the post you quoted, me "trying to discourage people from getting their cheese."
Again, I don't know what your problem is.
I find it very hard to believe you work at SBA given all the incorrect information you provided, (that I've already pointed out earlier) along with your combative attitude towards.....everything.
And nice touch with the name calling, although it doesn't really help your case now does it.
It's apparently very important to you to continue the charade, so by all means, continue.


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## Working4peanuts (Jan 16, 2018)

Taxi2Uber said:


> Actually, what I said was, _"Got the 'approval' on 6/9/20, to proceed to the next/final step in securing the loan."_
> If you weren't in such a hurry to disagree with everyone, you would have got the gist. Or not.
> 
> As I said earlier in the thread, but didn't want to have to explain it again (until now that you 'forced' me), I called because I didn't get the $1000 advance and I had questions about it, and while I had her on the phone, I asked about if I didn't want the loan and the steps needed to withdraw my application.
> ...


You didn't get "the approval" to do anything. You accepted an offer contingent on you qualifying.



Taxi2Uber said:


> Actually, what I said was, _"Got the 'approval' on 6/9/20, to proceed to the next/final step in securing the loan."_
> If you weren't in such a hurry to disagree with everyone, you would have got the gist. Or not.
> 
> As I said earlier in the thread, but didn't want to have to explain it again (until now that you 'forced' me), I called because I didn't get the $1000 advance and I had questions about it, and while I had her on the phone, I asked about if I didn't want the loan and the steps needed to withdraw my application.
> ...


You can doubt all you want. After all, you're a taxi driver.

Ask the people who've asked me to look up their records if I work for the sba.

But that doesn't matter, does it? You obviously know more than everyone.


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## Taxi2Uber (Jul 21, 2017)

Working4peanuts said:


> You accepted an offer contingent on you qualifying.


Wrong again. I declined the offer.



Working4peanuts said:


> After all, you're a taxi driver.


Wrong again. Former taxi driver.



Working4peanuts said:


> You obviously know more than everyone.


Thanks, but I wouldn't say that.
I would say I know more about my situation than you do.
And having pointed out several of your errors, I'd say you know less than you think you do.


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## Working4peanuts (Jan 16, 2018)

Taxi2Uber said:


> Wrong again. I declined the offer.
> 
> Wrong again. Former taxi driver.
> 
> ...


Why don't you and shalester get a room already?


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## scoll (Aug 6, 2020)

What do you mean you don't have to if on ui?


Free willy said:


> I received a loan but no $1k on top of it - that was no longer available when I applied in July. I was surprised at how quickly everything was done. Once they verified my income I had the funds deposited in my account 2 days after applying.
> 
> You don't have to report it as income if you are on UI.
> 
> You can't utilize the funds for just anything and I am sure there's a link somewhere explaining all this. It's also worth noting you don't have to make payments for a year.


What


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## New2This (Dec 27, 2015)

scoll said:


> What do you mean you don't have to if on ui?
> 
> What


It's a loan that you pay back. It's not income.

You report income if you're on UI/PUA.


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## Daisey77 (Jan 13, 2016)

Working4peanuts said:


> Anyone who wants me to look at their application and tell them what to do to get it "unstuck" or whatever, you can dm me the application number.
> 
> Please, no need for you conspiracy nuts to post more nonsense. No one is forcing anyone to do this. Those that want the help will get it.


Quick question, do you know if emails they're sending out on the targeted advances are only sent to those who are in low-income areas or are they sending them out to everyone who got a partial advance? I'm curious if they've already narrowed down the folks in low-income communities and just emailed those people to prove the 30% income loss or if they're sending out emails to everyone who got a partial or no advance and only when they respond, seeing if they qualify both as being in a low-income community and have a 30% business loss


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## New2This (Dec 27, 2015)

Daisey77 said:


> Quick question, do you know if emails they're sending out on the targeted advances are only sent to those who are in low-income areas or are they sending them out to everyone who got a partial advance? I'm curious if they've already narrowed down the folks in low-income communities and just emailed those people to prove the 30% income loss or if they're sending out emails to everyone who got a partial or no advance and only when they respond, seeing if they qualify both as being in a low-income community and have a 30% business loss


Great question. I've gotten nothing but my EIDL wasn't paid out until June so I'm wondering if they're just going in order, in which case I'll get my application around Xmas. &#129335;‍♂

@Working4peanuts another question regarding this.

I may be moving to a different state soon. When I do, would my new location matter for this?


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## Daisey77 (Jan 13, 2016)

New2This said:


> Great question. I've gotten nothing but my EIDL wasn't paid out until June so I'm wondering if they're just going in order, in which case I'll get my application around Xmas. &#129335;‍♂
> 
> @Working4peanuts another question regarding this.
> 
> I may be moving to a different state soon. When I do, would my new location matter for this?


So the first round of emails are going out to folks who got a partial advance. Those started going out the beginning of the month and are still going out. I got mine about 11 days ago maybe but they are still going out I didn't get my loan until July because I had to get a reconsideration. The second round of emails are going to the folks who did not get any advance due to lack of funding. Did you get an advance?

In all the research I've done on this advance, I did read if you move the targeted advance will be based off your new address. I would guess that's only pre-approval though or maybe pre dispersement? I don't know what they could do if you moved afterwards common regards to the targeted advance but you can't move without informing them. In fact I think our loan paperwork actually says we have to get approval to move


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## New2This (Dec 27, 2015)

Daisey77 said:


> Did you get an advance?


Yes in May I think



Daisey77 said:


> I did read if you move the targeted advance will be based off your new address


I'll get a room in a crackhouse for a few weeks then. &#129335;‍♂



Daisey77 said:


> In fact I think our loan paperwork actually says we have to get approval to move


I'll have to find my loan documents and actually read them.


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## Daisey77 (Jan 13, 2016)

New2This said:


> Yes in May I think
> 
> I'll get a room in a crackhouse for a few weeks then. &#129335;‍♂
> 
> I'll have to find my loan documents and actually read them.


So I got my advance in April actually but I didn't get my loan until July so if they're going off the timeline of the advances, you should be getting one anytime. There was a site that keeps getting thrown around that will tell you what your property level is for your community but I can't seem to get it to work like everyone else can. I'll see if I can find a link for you. There it's also an app called skip that tracks the SBA stuff along with your stimulus checks. I typed in my information there and it said my community is not considered low-income but I don't know how accurate it really is. It depends what year they're using demographics from


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## New2This (Dec 27, 2015)

Daisey77 said:


> So I got my advance in April actually but I didn't get my loan until July so if they're going off the timeline of the advances, you should be getting one anytime. There was a site that keeps getting thrown around that will tell you what your property level is for your community but I can't seem to get it to work like everyone else can. I'll see if I can find a link for you. There it's also an app called skip that tracks the SBA stuff along with your stimulus checks. I typed in my information there and it said my community is not considered low-income but I don't know how accurate it really is. It depends what year they're using demographics from


I'm right outside of Washington D.C. so not a prayer my place is considered "low-income" community.

I did most of my trips in either downtown D.C. or FedEx Field, which is definitely low-income.

Who knows?


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## Daisey77 (Jan 13, 2016)

New2This said:


> I'll get a room in a crackhouse for a few weeks then. &#129335;‍♂


It sounds like as long as you give the SBA at least a 30 day notice your decision to move, it's okay. I'm sure they'll want the address of the crack house though&#128517;&#128517;


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## Working4peanuts (Jan 16, 2018)

Daisey77 said:


> Quick question, do you know if emails they're sending out on the targeted advances are only sent to those who are in low-income areas or are they sending them out to everyone who got a partial advance? I'm curious if they've already narrowed down the folks in low-income communities and just emailed those people to prove the 30% income loss or if they're sending out emails to everyone who got a partial or no advance and only when they respond, seeing if they qualify both as being in a low-income community and have a 30% business loss


Good question. All I know is they're sending out x number of emails a week and I assumed it was just to the poor folk but who the hell knows? I didn't get one and I'm plenty poor. Maybe they've flagged my account though...



New2This said:


> Great question. I've gotten nothing but my EIDL wasn't paid out until June so I'm wondering if they're just going in order, in which case I'll get my application around Xmas. &#129335;‍♂
> 
> @Working4peanuts another question regarding this.
> 
> I may be moving to a different state soon. When I do, would my new location matter for this?


Another good question. I would encourage you to move to the hood though to increase the odds of you getting more cheese.


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## New2This (Dec 27, 2015)

Working4peanuts said:


> Another good question. I would encourage you to move to the hood though to increase the odds of you getting more cheese.


Crackhouse here I come &#129395;


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## Amos69 (May 17, 2019)

New2This said:


> Crackhouse here I come &#129395;


I hear cost of living is extremely low, If you will SAD you can live rent free.


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## New2This (Dec 27, 2015)

Amos69 said:


> I hear cost of living is extremely low, If you will SAD you can live rent free.


I'll pay but thanks &#129335;‍♂


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## ANThonyBoreDaneCook (Oct 7, 2019)

New2This said:


> I'll pay but thanks &#129335;‍♂


You can live in my crack house
We got fios in this *****!


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## New2This (Dec 27, 2015)

ANThonyBoreDaneCook said:


> You can live in my crack house
> We got fios in this @@@@@!


Isn't all of Philly one ginormous crackhouse? &#129335;‍♂


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