# Get paid 10,000$ uber/lyft??? Diseaster loan



## GammaRayBurst (Jan 20, 2018)

EMERGENCY THREAD YOU CAN GET 10000 DOLLARS POSSIBLY? INWAS TOLD TO APPLY FOR A DISEASTER LOAN AS INDEPENDENT CONTRACTOR ? LOOK IT UP!!! DONT QUOTE ME INSIGNED UP IF I GP TO JAIL BUT ACCOORDING TO ALOT PF WEBSITES UBER DRIVERSS LYFT DRIVERS CA?GET PAID 10000 EVEN IF LOAN IS DENIED!!!! NOT SPAM LOOK IT UP!! i dont wanna get banned or anything but according to this link you can apply as an independent contractor which you are you can get 10K?? 

__
https://www.reddit.com/r/uberdrivers/comments/frgsm3
 i signed for it at the offical website mods dont ban me but i signed up and im a contractor so i qualidy according to the website. Please vertify? I hope i dont go to jail now. Im on the real though. Megathread this if its true. This is the website https://covid19relief.sba.gov

Mods pleasr vertify if this is true dont ban me i was reading up on it and applied i am considered an independent contractor and can use my ssn as my tax id.. please get yall some help if this is true if not please delete thread

please dont ban me if this isnt true


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## theMezz (Sep 29, 2018)

It's a SBA loan - you have to pay it back, unless used for payroll, utilities or rent.
It's an SBA 7a loan, administered by some banks.
Clark Howard talks about it on his podcast https://clark.com/podcasts/

Basically you apply for a 7A loan and when funded, any money you use for payroll, utilities or rent you do not have to pay back, Other uses you have to pay back.

It's for qualifying small business with under 500 employees, in my opinion it's not for rideshare contractors.


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## GammaRayBurst (Jan 20, 2018)

theMezz said:


> It's a SBA loan - you have to pay it back, unless used for payroll, utilities or rent.
> It's an SBA 7a loan, administered by some banks.
> Clark Howard talks about it on his podcast https://clark.com/podcasts/
> 
> ...


But there's a claus saying if you are denied loan the 10k is a grant? Can't vertify 
*Are independent contractors and self-employed individuals eligible for loans under the Program? *

Yes. The Act deems sole proprietors, independent contracts and self-employed individuals to be eligible to receive loans under the Program, assuming they provide the necessary documentation to evidence their eligibility, such as payroll tax filings, Forms 1099-MISC, and income and expense reports. See below for limits on how much they can borrow.


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## Irishjohn831 (Aug 11, 2017)

By utilities or rent that means business utilities and rent, correct ?


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## GammaRayBurst (Jan 20, 2018)

Irishjohn831 said:


> By utilities or rent that means business utilities and rent, correct ?


It did say rent??????



GammaRayBurst said:


> It did say rent??????


Not sure im so confused to be honest but we are independent contractors


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## Asificarewhatyoudontthink (Jul 6, 2017)

GammaRayBurst said:


> EMERGENCY THREAD YOU CAN GET 10000 DOLLARS POSSIBLY? INWAS TOLD TO APPLY FOR A DISEASTER LOAN AS INDEPENDENT CONTRACTOR ? LOOK IT UP!!! DONT QUOTE ME INSIGNED UP IF I GP TO JAIL BUT ACCOORDING TO ALOT PF WEBSITES UBER DRIVERSS LYFT DRIVERS CA?GET PAID 10000 EVEN IF LOAN IS DENIED!!!! NOT SPAM LOOK IT UP!! i dont wanna get banned or anything but according to this link you can apply as an independent contractor which you are you can get 10K??
> 
> __
> https://www.reddit.com/r/uberdrivers/comments/frgsm3
> ...


Only if you have a registered business. 
You can't just go... Oh I am an IC.

As in, you have to file taxes under an LLC or Inc or something like that.


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## GammaRayBurst (Jan 20, 2018)

Asificarewhatyoudontthink said:


> Only if you have a registered business.
> You can't just go... Oh I am an IC.
> 
> As in, you have to file taxes under an LLC or Inc or something like that.


Well them im screwed



GammaRayBurst said:


> Well them im screwed


Im just poor uber driver


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## Irishjohn831 (Aug 11, 2017)

I’ll get my loan just in time for all the prisoners they are releasing to steal it from me....AMERICA !!


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## Asificarewhatyoudontthink (Jul 6, 2017)

theMezz said:


> It's a SBA loan - you have to pay it back, unless used for payroll, utilities or rent.
> It's an SBA 7a loan, administered by some banks.
> Clark Howard talks about it on his podcast https://clark.com/podcasts/
> 
> ...


If they drive under an established Business title, pay themselves as a Pass through, then, yes.

And, as long as they continue to pay themselves (keep employees on payroll) the loan will be forgiven. 
However, this may require you to pay yourself as an employee with all the tax withholding required to qualify.


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## GammaRayBurst (Jan 20, 2018)

Irishjohn831 said:


> I'll get my loan just in time for all the prisoners they are releasing to steal it from me....AMERICA !!


Ahhhh


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## Wolfgang Faust (Aug 2, 2018)

theMezz said:


> It's a SBA loan - you have to pay it back, unless used for payroll, utilities or rent.
> It's an SBA 7a loan, administered by some banks.
> Clark Howard talks about it on his podcast https://clark.com/podcasts/
> 
> ...


It is, if you have an LLC.


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## GammaRayBurst (Jan 20, 2018)

Wolfgang Faust said:


> It is, if you have an LLC.


LLC?


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## GammaRayBurst (Jan 20, 2018)

IR12 said:


> Slippery slope &#129300;


&#129300;&#129300;&#129300;&#129300;


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## OldBay (Apr 1, 2019)

The loan is for employers. Yes you can take the loan and pay yourself your salary.

However, if you are paying yourself as an employee, then you cannot collect unemployment.

The loan, you have to pay back anything greater than 10k. The maximum free benefit of the loan is 10k, potentially less depending on your verification 

The unemployment benefits will potentially be much greater over the course of the disaster. It's tbd depending on your states implementation.

You can't legally get both. Taking the loan to pay your salary and claiming you are unemployed is illegal.

Will some ppl try to abuse this? Yes. Will some ppl get away with it? Probably. Will some get caught and punished for fraud? Yes.


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## UberBastid (Oct 1, 2016)

Asificarewhatyoudontthink said:


> Only if you have a registered business.
> You can't just go... Oh I am an IC.
> 
> As in, you have to file taxes under an LLC or Inc or something like that.


COME ON.
That's not true.
Have you been to the website?

Here is the questions:

*Choose One:*
Applicant is a business with not more than 500 employees.
Applicant is an individual who operates under a sole proprietorship, with or without employees, or as an independent contractor.
Applicant is a cooperative with not more than 500 employees.
Applicant is an Employee Stock Ownership Plan (ESOP), as defined in 15 U.S.C. 632, with not more than 500 employees.
Applicant is a tribal small business concern, as described in 15 U.S.C. 657a(b)(2)(C), with not more than 500 employees.
Applicant is a business, including an agricultural cooperative, aquaculture enterprise, nursery, or producer cooperative, that is small under SBA Size Standards found at https://www.sba.gov/size-standards.
Applicant is a business with more than 500 employees that is small under SBA Size Standards found at https://www.sba.gov/size-standards.
Applicant is a private non-profit organization that is a non-governmental agency or entity that currently has an effective ruling letter from the IRS granting tax exemption under sections 501(c),(d), or (e) of the Internal Revenue Code of 1954, or satisfactory evidence from the State that the non-revenue producing organization or entity is a non-profit one organized or doing business under State law, or a faith-based organization.

*CAN YOU SAY YES TO JUST ONE OF THESE?

Review and Check All of the Following:*Applicant must review and check all the following (If Applicant is unable to check all of the following, Applicant is not an Eligible Entity):
Applicant is not engaged in any illegal activity (as defined by Federal guidelines).
No principal of the Applicant with a 50 percent or greater ownership interest is more than sixty (60) days delinquent on child support obligations.
Applicant is not an agricultural enterprise (e.g., farm), other than an aquaculture enterprise, agricultural cooperative, or nursery.
Applicant does not present live performances of a prurient sexual nature or derive directly or indirectly more than de minimis gross revenue through the sale of products or services, or the presentation of any depictions or displays, of a prurient sexual nature.
Applicant does not derive more than one-third of gross annual revenue from legal gambling activities.
Applicant is not in the business of lobbying.
Applicant cannot be a state, local, or municipal government entity and cannot be a member of Congress.

*CAN YOU CHECK JUST ALL OF THESE?*

Then you qualify.

Tell the truth, fill out the form.
Let THEM tell you that you don't qualify.

Oh, and stop spreading bullshit.


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## Wolfgang Faust (Aug 2, 2018)

UberBastid said:


> COME ON.
> That's not true.
> Have you been to the website?
> 
> ...


I applied today under my LLC.


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## GammaRayBurst (Jan 20, 2018)

UberBastid said:


> COME ON.
> That's not true.
> Have you been to the website?
> 
> ...


You talking to me or someone else



Wolfgang Faust said:


> I applied today under my LLC.


Get that money!!!


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## OldBay (Apr 1, 2019)

Wolfgang Faust said:


> I applied today under my LLC.


You will not legally be able to accept unemployment insurance.

The loan is to cover your payroll. You pay yourself your salary, therefore you can't claim to be unemployed .

State UI plus 600 weekly will be more than 10k in 10 weeks or so, and can continue much longer.


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## Wolfgang Faust (Aug 2, 2018)

OldBay said:


> You will not legally be able to accept unemployment insurance.
> 
> The loan is to cover your payroll. You pay yourself your salary, therefore you can't claim to be unemployed .
> 
> State UI plus 600 weekly will be more than 10k in 10 weeks or so, and can continue much longer.


Not doing UI.
You make your decisions, I'll make mine.


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## mbd (Aug 27, 2018)

Irishjohn831 said:


> I'll get my loan just in time for all the prisoners they are releasing to steal it from me....AMERICA !!


Most of them are passive crimes and they would have been set free in the next few weeks &#128521;
Madoff is trying to get out also .


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## GammaRayBurst (Jan 20, 2018)

IR12 said:


> There's no right way to do the wrong thing.


?


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## argyowl (Dec 17, 2016)

Might work. Looks like a valid loophole.


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## argyowl (Dec 17, 2016)

I suppose so.


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## Defensive Driver (Aug 27, 2019)

mbd said:


> Most of them are passive crimes and they would have been set free in the next few weeks &#128521;
> Madoff is trying to get out also .


How do you know Madoff is getting out?


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## argyowl (Dec 17, 2016)

One or the other but not both. That would constitute fraud.


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## mbd (Aug 27, 2018)

Defensive Driver said:


> How do you know Madoff is getting out?


Trying, but I don't think they will .


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## argyowl (Dec 17, 2016)

They might not do the full $10,000 but a partial loan.


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## Zebonkey (Feb 2, 2016)

Defensive Driver said:


> How do you know Madoff is getting out?


Get out, or get out not. There is no try.


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## Reynob Moore (Feb 17, 2017)

I just applied. There were a couple questions I wasnt sure how to answer on the application but I filled it out and submitted it. Anyone else applying?


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## GammaRayBurst (Jan 20, 2018)

Reynob Moore said:


> I just applied. There were a couple questions I wasnt sure how to answer on the application but I filled it out and submitted it. Anyone else applying?


I did


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## GammaRayBurst (Jan 20, 2018)

Can you apply dor unemplyment whule applying for this to?


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## OldBay (Apr 1, 2019)

GammaRayBurst said:


> Can you apply dor unemplyment whule applying for this to?


No.


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## Chungyi (Jan 3, 2020)

Do I qualify if I’m still working at my full time job but no longer drive uber? I drove uber about 30 hours a week till February.


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## UberBastid (Oct 1, 2016)

GammaRayBurst said:


> Can you apply dor unemplyment whule applying for this to?





OldBay said:


> No.


Where did you get this info, oldbay?
You saw it written on a state or federal publication or instruction?


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## OldBay (Apr 1, 2019)

UberBastid said:


> Where did you get this info, oldbay?
> You saw it written on a state or federal publication or instruction?


I know that when you apply for unemployment, you have to state that you don't have a job or income.

I know that when you've been granted unemployment, they ask you every week if you have any income for the week. If you do, your UE insurance ends and they stop sending you checks.

I know that if you "as boss" take out a 10K loan for paying yourself "as employee", that when you are asked if you have any income, you will have to say "yes" or it would be a lie.

If you tell them you don't have any income, and then later when you are doing your taxes and they see the 10K business loan, that they will figure it out. The business loan will be considered "income". Rest assured, next year when this is over and the country is broke, they will be looking underneath the seat cushions to find any loose change that is out there. They will be looking at fraud from the disaster grants. Double dipping and outright lies will be pretty easy to detect.

Getting around the truth by paying yourself 10K salary up-front (in week one) and then saying you don't have any income won't cut it. I know this isn't going to disuade you, but maybe when you are calling your state's UE line on a weekly basis, and they ask you the question "did you have any income ", you will get cold feet and say "yes" to avoid a felony and jail time.

OTH, you might get lucky.


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## UberBastid (Oct 1, 2016)

OldBay said:


> I know that when you apply for unemployment, you have to state that you don't have a job or income.
> 
> I know that when you've been granted unemployment, they ask you every week if you have any income for the week. If you do, your UE insurance ends and they stop sending you checks.
> 
> ...


I don't count on luck.
I didn't apply for any of it, my boss is still paying me and I haven't driven in over a year.

But ... I looked at the applications.
The questions that THEY ask does not ask for any of that information.
I posted the questions ... on this thread ... I'll do it again.
IF you are able to answer ONE of the first set as a yes ....
IF you are able to answer ALL of the second set as a no ...
YOU QUALIFY.

If you see something different .. please do tell ....

*CAN YOU SAY YES TO JUST ONE OF THESE?
Choose One:*
- Applicant is a business with not more than 500 employees.
- Applicant is an individual who operates under a sole proprietorship, with or without employees, or as an independent contractor.
- Applicant is a cooperative with not more than 500 employees.
- Applicant is an Employee Stock Ownership Plan (ESOP), as defined in 15 U.S.C. 632, with not more than 500 employees.
- Applicant is a tribal small business concern, as described in 15 U.S.C. 657a(b)(2)(C), with not more than 500 employees.
- Applicant is a business, including an agricultural cooperative, aquaculture enterprise, nursery, or producer cooperative, that is small under SBA Size Standards found at https://www.sba.gov/size-standards.
- Applicant is a business with more than 500 employees that is small under SBA Size Standards found at https://www.sba.gov/size-standards.
- Applicant is a private non-profit organization that is a non-governmental agency or entity that currently has an effective ruling letter from the IRS granting tax exemption under sections 501(c),(d), or (e) of the Internal Revenue Code of 1954, or satisfactory evidence from the State that the non-revenue producing organization or entity is a non-profit one organized or doing business under State law, or a faith-based organization.
(most UL drivers will check the second one)

*CAN YOU CHECK ALL OF THESE?
Review and Check All of the Following:*Applicant must review and check all the following (If Applicant is unable to check all of the following, Applicant is not an Eligible Entity):
- Applicant is not engaged in any illegal activity (as defined by Federal guidelines).
- No principal of the Applicant with a 50 percent or greater ownership interest is more than sixty (60) days delinquent on child support obligations.
- Applicant is not an agricultural enterprise (e.g., farm), other than an aquaculture enterprise, agricultural cooperative, or nursery.
- Applicant does not present live performances of a prurient sexual nature or derive directly or indirectly more than de minimis gross revenue through the sale of products or services, or the presentation of any depictions or displays, of a prurient sexual nature.
- Applicant does not derive more than one-third of gross annual revenue from legal gambling activities.
- Applicant is not in the business of lobbying.
- Applicant cannot be a state, local, or municipal government entity and cannot be a member of Congress.

According to the SBA site, if you can check ONE of the first group, and ALL of the second group, you qualify for an SBA loan, that can be converted into a grant if you bring all your employees back after the emergency is over.

Do you see something that I don't?
I tend to believe SBA -- you disagree with them?


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## OldBay (Apr 1, 2019)

UberBastid said:


> I don't count on luck.
> I didn't apply for any of it, my boss is still paying me and I haven't driven in over a year.
> 
> But ... I looked at the applications.
> ...


I'm not talking about the LOAN, I'm talking about what happens when you try to apply for UE after taking a small business loan to pay your salary.


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## Atom guy (Jul 27, 2016)

I applied also. I answered every question truthfully. If they have any further questions, I will answer them honestly. I am totally self employed. Besides ride share I have rental income as well, which may also be affected by the virus (waiting nervously to see if my tenants pay). The first $10,000 is an emergency grant, which doesn't have to be repaid. Then you find out if you qualify for a loan, which you don't have to even accept in the end. If I get it, great. If I don't, then I haven't lost anything.

BTW: there's a youtube channel called "meet kevin" where he goes over how to fill out this form in detail.


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## UberBastid (Oct 1, 2016)

OldBay said:


> I'm not talking about the LOAN, I'm talking about what happens when you try to apply for UE after taking a small business loan to pay your salary.


Well, there I have to defer to the rules of your state.
And, for some reason, that is a secret on your personal info page.

But, I went thru the UI ap for California (my residence) and filled it out as though I was a full time Uber driver (I filled it out completely, right up to the 'submit' button) and there was nothing on that ap about "did you apply for a loan". No mention of SBA. It asks if the applicant is self employed ... answer yes It asks how much money you made last pay period ... answer zero dollars. It asks who your last employer was . .. answer self and your name.
How you gonna get in trouble for that?

So, my point is that ... IF someone fills out the forms honestly, how can they get in trouble.
The worst thing that could happen is that the applicant wastes an hour of their time and gets told 'no'.
Dunno about you, but I been told no before.
Hell, I'm a married man - I hear no all the time.
But, I do know for sure that if you don't ask, you won't get it.
Ask.

The gov't WANTS YOU TO HAVE MONEY, and the gov't WANTS YOU TO SPEND MONEY.


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## 25rides7daysaweek (Nov 20, 2017)

GammaRayBurst said:


> EMERGENCY THREAD YOU CAN GET 10000 DOLLARS POSSIBLY? INWAS TOLD TO APPLY FOR A DISEASTER LOAN AS INDEPENDENT CONTRACTOR ? LOOK IT UP!!! DONT QUOTE ME INSIGNED UP IF I GP TO JAIL BUT ACCOORDING TO ALOT PF WEBSITES UBER DRIVERSS LYFT DRIVERS CA?GET PAID 10000 EVEN IF LOAN IS DENIED!!!! NOT SPAM LOOK IT UP!! i dont wanna get banned or anything but according to this link you can apply as an independent contractor which you are you can get 10K??
> 
> __
> https://www.reddit.com/r/uberdrivers/comments/frgsm3
> ...


Mods will you please find some reason
TO BAN THIS GUY IMMEDIATELY!!!!!


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## kcdrvr15 (Jan 10, 2017)

I applied, lets see what comes from it. If asked I'm going to say that I need an updated vehicle to accommodate the new demands providing safe, secure, and clean vehicle to the traveling public. See if I can get a grant to buy a new 14pax business class shuttle bus. Then apply for another grant later this year to convert the bus to a vip travel van.... the vip being myself of course...

Never underestimate the stupid stuff the gov will let you do and even encourage it. The " Loan" is really a grant, you don't have to pay it back if you meet the grant requirements.


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## UberBastid (Oct 1, 2016)

kcdrvr15 said:


> if you meet the grant requirements.


which is easy to do -- IF you hire yourself back to do the job.


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## Atom guy (Jul 27, 2016)

kcdrvr15 said:


> I applied, lets see what comes from it. If asked I'm going to say that I need an updated vehicle to accommodate the new demands providing safe, secure, and clean vehicle to the traveling public. See if I can get a grant to buy a new 14pax business class shuttle bus. Then apply for another grant later this year to convert the bus to a vip travel van.... the vip being myself of course...
> 
> Never underestimate the stupid stuff the gov will let you do and even encourage it. The " Loan" is really a grant, you don't have to pay it back if you meet the grant requirements.


The initial $10,000 is a grant. After that it is a loan that can be forgiven if it's used for payroll or rent.


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## kcdrvr15 (Jan 10, 2017)

UberBastid said:


> which is easy to do -- IF you hire yourself back to do the job.


In Missouri, as a sole proprietor, you have all the benefits and protections of a LLC, but not the formal structure. As a sole proprietor, your automatically paying your self, you don't have to issue a 1099 to yourself.


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## mbd (Aug 27, 2018)

I think it is a advanced payment (10,000$) on the Loan, bridge to the loan. It will take 2-3 months on the SBA loan.First 10,000 is the grant...You apply for 100,000$ and 10,000$ is the grant part of the loan( no interest or pay it back, if rejected )  Total 100,000. 10,000 + 90,000. That would make sense:smiles: They mentioned good credit score.


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## UberBastid (Oct 1, 2016)

mbd said:


> I think it is a advanced payment (10,000$) on the Loan, bridge to the loan. It will take 2-3 months on the SBA loan.First 10,000 is the grant ?
> You apply for 100,000$ and 10,000$ extra is the grant part of the loan  That would make sense:smiles: They mentioned good credit score.If it is a straight 10,000$grant with no strings attached , then it is free money&#128512; Every Uber driver will be sitting home and collecting $$$1000$ a month + part of 10,000$


That's right.
And, it also says that if you are denied for the loan, for any reason, that there will be an automatic $10,000 grant posted to your bank account _within three days._
And, this is not a loan, its a grant.

I'm tellin' ya ... the gov't _wants_ you to have and spend money.


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## mbd (Aug 27, 2018)

UberBastid said:


> That's right.
> And, it also says that if you are denied for the loan, for any reason, that there will be an automatic $10,000 grant posted to your bank account _within three days._
> And, this is not a loan, its a grant.
> 
> I'm tellin' ya ... the gov't _wants_ you to have and spend money.


I am going to guess that you have to show that you are actually running a business .
With payments, rents, employees etc. :smiles:
Self employed with Uber with a car payment + insurance payment might not cut it&#128512;
It is meant for a donut shop or a dry clean business. But it is the govt, so anything is possible. Apply and see what happens.
3 million gig workers will go after the max 10,000$ , knowing most will get rejected due to credit score .


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## UberBastid (Oct 1, 2016)

mbd said:


> I am going to guess that you have to show that you are actually running a business &#128512;
> With payments, employees etc. :smiles:
> Self employed with Uber with a car payment + insurance payment might not cut it&#128512;
> It is meant for a donut shop or a dry clean business. But it is the govt, so anything is possible. Apply and see what happens.
> 3 million gig workers will go after the 10,000$


I remember a couple of questions along those lines.
One was "Has the business been in existence and operating since January 1, 2020?"
Another was "What date was the business established?"

Shit. Just tell the truth.

If you filed taxes on it just once .... that's proof.
If you have an account with Uber or Lyft before 1/1/20 ... that's proof.


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## mbd (Aug 27, 2018)

UberBastid said:


> I remember a couple of questions along those lines.
> One was "Has the business been in existence and operating since January 1, 2020?"
> Another was "What date was the business established?"
> 
> ...


It is good that you applied early. &#128077;
on your taxes, did you take any deductions on your home being part of the business ?


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## UberBastid (Oct 1, 2016)

Sitting here and agonizing on whether you should apply or not is like the 35 year old virgin sitting at the bar of a club and agonizing over whether he should ask that pretty girl if she'd like to dance.

Only one way to find out.

*ASK*



mbd said:


> It is good that you applied early. &#128077;
> on your taxes, did you take any deductions on your home being part of the business ?


When I was driving ... yes I did.
I charged off 18% of the house payment and utilities as "office rent".


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## mbd (Aug 27, 2018)

UberBastid said:


> Sitting here and agonizing on whether you should apply or not is like the 35 year old virgin sitting at the bar of a club and agonizing over whether he should ask that pretty girl if she'd like to dance.
> 
> Only one way to find out.
> 
> ...


Ok, then you could possibly get the max/ part of 10000&#128077;


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## UberBastid (Oct 1, 2016)

mbd said:


> Ok, then you could possibly get the max 10000&#128077;


Ask

Just tell the truth when you convey info.


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## kcdrvr15 (Jan 10, 2017)

mbd said:


> knowing most will get rejected due to credit score .


870

that leaves more money for those that have good scores


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## mbd (Aug 27, 2018)

kcdrvr15 said:


> 870
> 
> that leaves more money for those that have good scores


Most people will apply for 100k, 200k, 1 mill big loans. They know interest will get them part of the 10,000$ back.


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## B - uberlyftdriver (Jun 6, 2017)

This is off SBA. Gov

I already have a confirmation number

i applied as a sole proprietor under my name and ssn


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## got a p (Jan 27, 2018)

Irishjohn831 said:


> I'll get my loan just in time for all the prisoners they are releasing to steal it from me....AMERICA !!


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## Irishjohn831 (Aug 11, 2017)

got a p said:


> View attachment 441191


And a bababooey to ya'll. Fun times it is


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## Chungyi (Jan 3, 2020)

You put 0 or 1 for number of employee?



B - uberlyftdriver said:


> This is off SBA. Gov
> 
> I already have a confirmation number
> 
> i applied as a sole proprietor under my name and ssn


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## argyowl (Dec 17, 2016)

Obviously, this is a gray area open to interpretation but one fact remains is that you cannot have both, possibly UI benefits or the 10k loan/grant IF they even allow it to process which upon further inspection, I doubt that they will give the full amount of 10k but a partial. Accepting both could constitute fraud. I applied for both but that doesn't mean I am going to accept both.


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## B - uberlyftdriver (Jun 6, 2017)

Chungyi said:


> You put 0 or 1 for number of employee?


sole proprietor, 0


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## argyowl (Dec 17, 2016)

I applied either yesterday or the day before as well. Keep this thread up to date. I haven't heard back from EDD California or SBA yet.


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## B - uberlyftdriver (Jun 6, 2017)

i got a confirmation number when i finished applying so we will see


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## OldBay (Apr 1, 2019)

UberBastid said:


> I remember a couple of questions along those lines.
> One was "Has the business been in existence and operating since January 1, 2020?"
> Another was "What date was the business established?"
> 
> ...


From what I remember, you have to prove that you have payroll and other expenses when applying for the loan.

The amount of the grant was something like 8x weekly payroll (need to look up again).

Usually businesses that pay an employee have an EIN and you would have the SS# of your employees (you). Which you would furnish.

They should be able to recreate WHO is working for your business and make sure they are not allowed unemployment.


----------



## argyowl (Dec 17, 2016)

I'm going to accept the loan over the unemployment if I am accepted the loan. I, too, received a confirmation number. I have serious doubts they will hand over 10k loans to Uber drivers, though. It seems like it would be judged on a case by case basis since there are no clear rules.


----------



## UberBastid (Oct 1, 2016)

OldBay said:


> From what I remember, you have to prove that you have payroll and other expenses when applying for the loan.
> 
> The amount of the grant was something like 8x weekly payroll (need to look up again).
> 
> ...


None of that was in the forms I saw -- right up to the 'submit' button.
But, if they need that, and ask for it, then you (wait for it) TELL THE TRUTH and get disqualified.
What? You got something else to do?
Stop binging on Netflix and fill out the damn forms.
Tell the truth.

They WANT to help you, you just have to raise your hand.


----------



## argyowl (Dec 17, 2016)

One thing I thought of where they may deny every Uber driver the SBA loan is the inability to repay as there is no clear future plan for Uber drivers being able to come back into the workforce with the unpredictability of the virus. I wouldn't rely on the disaster relief loan too much if I were you.

Ahh. It will not have to be repaid? What the hell.


----------



## B - uberlyftdriver (Jun 6, 2017)

its not a f'in loan!!! its grant from the SBA to save your sole proprietor ass and you can also file for unemployment, its part of the care act that just got signed into law

please read the middle paragraph on the SBA.gov site

i know reading is hard for uber drivers but its ok


----------



## argyowl (Dec 17, 2016)

I have serious doubts they will approve you or me for that matter. I'm a hard-lined skeptic. It will be judged on an individual by individual basis. You feel superior intellectually? What a joke.


----------



## UberBastid (Oct 1, 2016)

B - uberlyftdriver said:


> its not a f'in loan!!! its grant from the SBA to save your sole proprietor ass and you can also file for unemployment, its part of the care act that just got signed into law
> 
> please read the middle paragraph on the SBA.gov site
> 
> i know reading is hard for uber drivers but its ok


I finally got tired of saying it.
Thank you for picking up the slack.

Apply for everything.
Tell the truth.
No harm in being denied, but you gotta ask.
They WANT to help you, but you gotta raise your hand.

Don't be afraid to ask.
Don't make it hard, let them decide.
Don't wait too long.



argyowl said:


> I have serious doubts they will approve you or me for that matter. I'm a hard-lined skeptic. It will be judged on an individual by individual basis. You feel superior intellectually? What a joke.


Do YOU know everything?
Do YOU know who 'they' will approve? 
Do YOU know who 'they' are?

Are YOU afraid to spend a half hour filling out a form on line to find out?
Why?


----------



## argyowl (Dec 17, 2016)

I already filled out the form two days ago but I'm entitled to my opinion based on observation and use of logic. I am used to reading programming books so I like to make sense of things. I am still a skeptic and I personally think they won't give you guys shit in terms of a 10,000 grant.


----------



## B - uberlyftdriver (Jun 6, 2017)

i wish this virus would kill all the stupid in the world instead of good people


----------



## argyowl (Dec 17, 2016)

**** off, you mind numbingly stupid troll. Learn how to think.










You are the definition and epitome of an "ant".


----------



## B - uberlyftdriver (Jun 6, 2017)

see below


----------



## Zebonkey (Feb 2, 2016)

Reynob Moore said:


> I just applied. There were a couple questions I wasnt sure how to answer on the application but I filled it out and submitted it. Anyone else applying?


Same here.
"Cost of goods" was one of those questions. I put the estimated cost of operation. Called the helpline. Was on hold for 3+ hours, gave up.


----------



## UberBastid (Oct 1, 2016)

Zebonkey said:


> Same here.
> "Cost of goods" was one of those questions. I put the estimated cost of operation. Called the helpline. Was on hold for 3+ hours, gave up.


The correct, and honest answer for 'cost of goods' is .... $0.00

We don't sell goods, so there is no cost.
We are in the service industry.

GAVE UP? No shit?
*smh*
gave up.
too bad


----------



## Reynob Moore (Feb 17, 2017)

I called them too, some incredibly ridiculous sounding lady who sounded beyond miserable told me to wait for an email back and she said "they have no way of knowing how long until we receive funds".


----------



## GammaRayBurst (Jan 20, 2018)

25rides7daysaweek said:


> Mods will you please find some reason
> TO BAN THIS GUY IMMEDIATELY!!!!!


you don't like me. opsies:


----------



## nj9000 (Jun 6, 2019)

This does give an option, that if you're unable to get unemployment, maybe you can get this instead?

Also, what's to keep you from holding on to the grant and not spending anything from it while you're on unemployment? Then use it to pay yourself later? Like after July when unemployment ends?

And who says you HAVE to use it for payroll? It also says you can use it for utilities/etc?


----------



## GammaRayBurst (Jan 20, 2018)

nj9000 said:


> This does give an option, that if you're unable to get unemployment, maybe you can get this instead?
> 
> Also, what's to keep you from holding on to the grant and not spending anything from it while you're on unemployment? Then use it to pay yourself later? Like after July when unemployment ends?
> 
> And who says you HAVE to use it for payroll? It also says you can use it for utilities/etc?


Ahhhhh loop holes


----------



## nj9000 (Jun 6, 2019)

My plan was to apply for this and unemployment. I don't know if I'll get either, so while I'm applying for 1 I don't know if I'll get the other. If I get the grant, couldn't I barely pay myself at my own discretion, and still qualify for unemployment the same way I would if I earned a little income and reported it weekly or biweekly or whatever it is? Not only that but if I have some income, does that disqualify me from the $600/mo that's supposed to be separate from the actual unemployment insurance money?


----------



## GammaRayBurst (Jan 20, 2018)

nj9000 said:


> My plan was to apply for this and unemployment. I don't know if I'll get either, so while I'm applying for 1 I don't know if I'll get the other. If I get the grant, couldn't I barely pay myself at my own discretion, and still qualify for unemployment the same way I would if I earned a little income and reported it weekly or biweekly or whatever it is? Not only that but if I have some income, does that disqualify me from the $600/mo that's supposed to be separate from the actual unemployment insurance money?


Seriously, these loopholes are just AH!


----------



## lala2016 (Aug 14, 2016)

UberBastid said:


> I don't count on luck.
> I didn't apply for any of it, my boss is still paying me and I haven't driven in over a year.
> 
> But ... I looked at the applications.
> ...


Goodness.....Quote " my boss is still paying me and I haven't driven in over a year." Then why are you so interested if you dont drive for Uber anymore and you have a regular boss that bosses you around?? 
&#129300;&#129300;


----------



## munlochi (Jan 18, 2017)

mbd said:


> Most people will apply for 100k, 200k, 1 mill big loans. They know interest will get them part of the 10,000$ back.


You can't apply for a number under the disaster loan. Its based on gross income and cost of goods sold. The SBA officer tell you what you are eligible for, if you are eligible.
When they give you that number that's when the paperwork starts and you have to show that your numbers that you reported are accurate.

Secondly, the 10k grant is "up to 10k". You get that as an advance. You don't take the loan you can keep the grant, you take the loan the first 10k is a grant.

Lets make it clear as well. The loan is not just for payroll. It is for long term recurring debt, rent, expenses. For an Uber/Lyft driver this could be car payments, registration fees, etc etc.

By taking this loan you are not ineligible for UI. When you take it you will have to show where this money is going.

PPP loan which the SBA is launching tomorrow is the $349 billion allocated from the treasury that is specific to businesses and payroll. A lot can be forgiven from that loan but you can't do it directly from the SBA. You have to get to a registered bank that works with the SBA. Submit all of the vast documents showing payroll expenses, overhead. If you use it for payroll to keep employees on a large portion will be forgiven

EIDL loan app is short version, quick response
PPP is like having multiple interviews before getting a job offer. It's a lot longer process


----------



## Misunderstood Pirate (Aug 25, 2017)

UberBastid said:


> Well, there I have to defer to the rules of your state.
> And, for some reason, that is a secret on your personal info page.
> 
> But, I went thru the UI ap for California (my residence) and filled it out as though I was a full time Uber driver (I filled it out completely, right up to the 'submit' button) and there was nothing on that ap about "did you apply for a loan". No mention of SBA. It asks if the applicant is self employed ... answer yes It asks how much money you made last pay period ... answer zero dollars. It asks who your last employer was . .. answer self and your name.
> ...


Fraud


----------



## ANThonyBoreDaneCook (Oct 7, 2019)

Irishjohn831 said:


> I'll get my loan just in time for all the prisoners they are releasing to steal it from me....AMERICA !!


Username checks out


----------



## 58756 (May 30, 2016)

GammaRayBurst said:


> EMERGENCY THREAD YOU CAN GET 10000 DOLLARS POSSIBLY? INWAS TOLD TO APPLY FOR A DISEASTER LOAN AS INDEPENDENT CONTRACTOR ? LOOK IT UP!!! DONT QUOTE ME INSIGNED UP IF I GP TO JAIL BUT ACCOORDING TO ALOT PF WEBSITES UBER DRIVERSS LYFT DRIVERS CA?GET PAID 10000 EVEN IF LOAN IS DENIED!!!! NOT SPAM LOOK IT UP!! i dont wanna get banned or anything but according to this link you can apply as an independent contractor which you are you can get 10K??
> 
> __
> https://www.reddit.com/r/uberdrivers/comments/frgsm3
> ...


Don't worry man UP forum loves content and doesn't ban easily even if you wished for a ban.


----------



## 25rides7daysaweek (Nov 20, 2017)

GammaRayBurst said:


> you don't like me. opsies:


No I like you just fine. I was just teasing about the begging not to be banned...


----------



## Fusion_LUser (Jan 3, 2020)

Atom guy said:


> I applied also. I answered every question truthfully. If they have any further questions, I will answer them honestly. I am totally self employed. Besides ride share I have rental income as well, which may also be affected by the virus (waiting nervously to see if my tenants pay). The first $10,000 is an emergency grant, which doesn't have to be repaid. Then you find out if you qualify for a loan, which you don't have to even accept in the end. If I get it, great. If I don't, then I haven't lost anything.
> 
> BTW: there's a youtube channel called "meet kevin" where he goes over how to fill out this form in detail.


You may have some who are willing to pay rent with the 100's of rolls of TP they bought in March!


----------



## NGOwner (Nov 15, 2016)

UberBastid said:


> The correct, and honest answer for 'cost of goods' is .... $0.00
> 
> We don't sell goods, so there is no cost.
> We are in the service industry.


I disagree with this. I don't believe $0.00 is the correct value for the Cost of Goods field.

I just applied myself. Why not? There's no downside, and up to a $10K upside.

I used the gross figures from my schedule C for revenue. And for the COGS I used the IRS mileage charge, plus the cost of the commissions from Uber and Lyft, plus the allocated cost of the cell phone plan.

Those costs are directly attributable to the service being sold. I think you are placing too much emphasis on the word _Goods_. They are looking for a cost of what is provided to the customer, whether it be goods or services. COGS is well understood. COSS (Cost of Services Sold), not so much.

[NG]Owner


----------



## Chungyi (Jan 3, 2020)

I think you got it right. My wife owned a store, and on our business tax return (right below gross revenue), the cost of good sold is how much I paid for supply in order to provide service to my customers.


NGOwner said:


> I disagree with this. I don't believe $0.00 is the correct value for the Cost of Goods field.
> 
> I just applied myself. Why not? There's no downside, and up to a $10K upside.
> 
> ...


----------



## mbd (Aug 27, 2018)

munlochi said:


> You can't apply for a number under the disaster loan. Its based on gross income and cost of goods sold. The SBA officer tell you what you are eligible for, if you are eligible.
> When they give you that number that's when the paperwork starts and you have to show that your numbers that you reported are accurate.
> 
> Secondly, the 10k grant is "up to 10k". You get that as an advance. You don't take the loan you can keep the grant, you take the loan the first 10k is a grant.
> ...


Most people meaning people who own businesses ( not Uber/Lyft drivers).
Most banks will want to work their own customers.


----------



## UberBastid (Oct 1, 2016)

NGOwner said:


> I disagree with this. I don't believe $0.00 is the correct value for the Cost of Goods field.


Of course not.
That's because you have no education on business or accounting.
Nor the will, ability or curiosity to go to google and check the definition.

And THAT is why you're an uber driver.



Chungyi said:


> the cost of good sold is how much I paid for supply in order to provide service to my customers.


No it isn't.

*The following is redacted results from a Google search with search words of "what is definition of cost of goods sold".*

The formula for calculating COGS is: Starting inventory + purchases - ending inventory = cost of goods sold. No arcane exercise in accounting, you'll subtract the cost of goods sold from your revenue,

If you own a cabinetry company, examples of COGS would include the wood, screws, hinges, glass, paint, and labor used to make the cabinets you sell. However, the costs to market the cabinets, the electricity needed to operate the machinery, and shipping are not included in the COGS.

*The following is the redacted results from a Google search of "does a service company have cost of goods sold?"*
_COGS is not addressed in any detail in generally accepted accounting principles (GAAP), but COGS is defined as only the cost of inventory items sold during a given period. Not only do service companies have no goods to sell, but *purely service companies also do not have inventories, *therefore service companies do not enter a cost of goods sold in their ledgers, or on tax returns. _

In the immortal words of the church mouse, in "Alice in Wonderland" ... "Feed your head."


----------



## kc ub'ing! (May 27, 2016)

I applied and received a confirmation number. Been 2 days, haven’t heard back. Also applied or UI. If something else with cash flow potential comes up, I’ll apply for that too!

I’d rather be driving or interviewing for real work but both are impossible at the moment.


----------



## NGOwner (Nov 15, 2016)

UberBastid said:


> Of course not.
> That's because you have no education on business or accounting.
> Nor the will, ability or curiosity to go to google and check the definition.
> 
> And THAT is why you're an uber driver.


Actually I do, on all counts. But that's beside the point.

I was wrong. I can admit it, despite your disagreable manner in bringing it to my/our attention.

Should I get to the next phase with the SBA, I'll have them correct my error.

Good day.

[NG]Owner


----------



## munlochi (Jan 18, 2017)

mbd said:


> Most people meaning people who own businesses ( not Uber/Lyft drivers).
> Most banks will want to work their own customers.


Hate to break it you but when you file that schedule K that is a business form. You are filing as a sole proprietor. Uber/Lyft/DoorDash/Instacart these people are eligible now. In the past the restrictions involved to get an SBA loan would have been harder to get in but they are talking about all types now.

***The government has been authorized to make new types of small business loans available to the self-employed, including independent workers without full-time jobs. These loans may be used to cover expenses such as auto loan payments. ****

This is from Dara's email on what the bailout means to drivers. Now I dont fall in line with Dara and what he says cause I think he's a snake but he isn't wrong on what that EIDL loan is.



UberBastid said:


> Of course not.
> That's because you have no education on business or accounting.
> Nor the will, ability or curiosity to go to google and check the definition.
> 
> ...


This is accurate. I'm a driver and I own a retail business. I filed on two different forms. As a driver im a sole prop and as a business an LLC

Gross wages = Driver earnings
Cost of goods sold = 0, they are not asking about deductions (mileage, spotify, ammenities, tolls)

Retail business gross wages = store earnings
Cost of goods sold = Inventory costs
Gross profit = Store earnings - Inventory costs

This is all before deductions, loans, wages, mileage etc etc


----------



## UberDriver5000 (Mar 26, 2020)

I applied for UI online as a IC. I should've put as an employee since I'm in California. I'm still waiting to hear back. Should I wait to hear back or file a new claim as an employee.


----------



## Reynob Moore (Feb 17, 2017)

Has anyone heard back from the SBA?


----------



## munlochi (Jan 18, 2017)

Reynob Moore said:


> Has anyone heard back from the SBA?


Closest I've seen to a response from anyone and it was from a guy that contacted his local representative on what was up. Link is from reddit small business


__
https://www.reddit.com/r/smallbusiness/comments/ftogl0


----------



## Reynob Moore (Feb 17, 2017)

A buddy of mine took out this loan, except for more. He got 50k and got so excited he ran screaming into his car to drive to Vegas. He was so excited he forgot his wallet and now hes stranded in Vegas with no money. 

He went to the massage parlor and asked if they would be willing to front him a massage and a happy ending.


----------



## argyowl (Dec 17, 2016)

lol seriously? was all 10,000 approved?


----------



## kc ub'ing! (May 27, 2016)

Reynob Moore said:


> Has anyone heard back from the SBA?


I haven't! They didn't even acknowledge my submission. But I have my application number. I keep checking my bank balance with the irrational hope, it's up $10k. Disappointed so far...


----------



## Reynob Moore (Feb 17, 2017)

I just read on Reddit some people applied on March 19th and still have not received an email lol.


----------



## nurburgringsf (Aug 26, 2016)

So if you apply for this emergency disaster loan from SBA.gov, get the 10k but refuse the loan, would you still be eligible for UI?

10k in my bank account by the end of next week would be nice. Also UI in several weeks. And $1200 in a couple of weeks.


----------



## argyowl (Dec 17, 2016)

The lady on the phone told me to email a special email address and so I did. I cannot disclose it to the public here.


----------



## Atom guy (Jul 27, 2016)

Fusion_LUser said:


> You may have some who are willing to pay rent with the 100's of rolls of TP they bought in March!


&#128514; I was just at Wal-Mart this morning. Still no TP and I was there right at 7am


----------



## Reynob Moore (Feb 17, 2017)

nurburgringsf said:


> So if you apply for this emergency disaster loan from SBA.gov, get the 10k but refuse the loan, would you still be eligible for UI?
> 
> 10k in my bank account by the end of next week would be nice. Also UI in several weeks. And $1200 in a couple of weeks.


How would you get 10k in your bank then UI in several weeks if you refused the loan?

But to answer your question, yes. If you apply and refuse the loan you can still get UI (If they ever get their act together).


----------



## Irishjohn831 (Aug 11, 2017)

GammaRayBurst said:


> It did say rent??????
> 
> 
> Not sure im so confused to be honest but we are independent contractors


Are you sure that you're not sure ?


----------



## UberBastid (Oct 1, 2016)

argyowl said:


> The lady on the phone told me to email a special email address and so I did. I cannot disclose it to the public here.


Or what.
Did you sign a statement, notarized, under penalty of perjury and imprisonment at Guantanamo, that you wouldn't disclose this secret email address?
balls



Irishjohn831 said:


> Are you sure that you're not sure ?


I'm not sure if he's sure, but I am sure that I am sure ... ya know?


----------



## UberTrent9 (Dec 11, 2018)

Da fuq is a "diseaster loan"?



GammaRayBurst said:


> Well them im screwed
> 
> 
> Im just poor uber driver


With horrible grammar. The last thing you should be worried about is getting any kind of loan.


----------



## ChrisFZ (Aug 11, 2017)

It's been changed.

10k only if you have 10+ employees

You might get 1k, when, who knows.

https://www.bizjournals.com/philade...-atlantic-boss-talks-interest-rates-loan.html


----------



## MajorBummer (Aug 10, 2019)

ChrisFZ said:


> It's been changed.
> 
> 10k only if you have 10+ employees
> 
> ...


just read the SBA explanation for the disaster injury requirements.
Absolutely no mentioning having to have 10 Employees.
Sole proprietors can apply too. A sole proprietor is a 1 person business.Maybe you have 1 or 2 employees.dont need to have 10.


----------



## Ballard_Driver (Jan 10, 2016)

ChrisFZ said:


> It's been changed.
> 
> 10k only if you have 10+ employees
> 
> ...


Honestly, that's good. With a situation as screwed as this, even a fiscal tightwad like me can accept that we've gotta kick down some cash to people to keep things from falling apart... But just throwing more money at people than they need to get by, with no rhyme or reason to it is stupid. The other program where you're required to keep 75% of people on payroll etc at least has reasonable rules that make your kick down proportionate to the amount of good you're doing to keep things going.

All this money is going to have to come from somewhere eventually... Taxes will have to go up, or we'll have to inflate our way out of it. There is no free lunch. So even in a crisis it pays to think things through.



MajorBummer said:


> just read the SBA explanation for the disaster injury requirements.
> Absolutely no mentioning having to have 10 Employees.
> Sole proprietors can apply too. A sole proprietor is a 1 person business.Maybe you have 1 or 2 employees.dont need to have 10.


The whole thing may be getting applied on a case by case proportionate to cash flows, number of employees, how much your business has dropped, etc. Often times in laws they will leave the wording vague, which allows agencies to tweak things a bit. That could be what happened here, I didn't read the exact language for that chunk of stimulus or anything.


----------



## B - uberlyftdriver (Jun 6, 2017)

there are many programs being talked about at the same time here

1 stimulus checks - $1200 per person, everyone gets this, its on the way, either in the mail or direct deposit

2 Unemployment from you state - this is now opened up to sole proprietor/self employed

3 small business administration - at least 3 different programs
3a. Paycheck protection plan - for small businesses with overhead and payroll
3b. EIDL Loan advance - $10k grant plus 4% interest on additional funds
3c Express bridge loan, this will streamline your process if you already are working with SBA

note- 3b is the one that rideshare drivers will be able to apply for as a sole proprietor with your own tax ID number


----------



## B - uberlyftdriver (Jun 6, 2017)

Mnuchin said yesterday in the Coronavirus task force presser while standing next to the VP and POTUS 2 weeks
the american people are going to eat these guys for lunch if they don't come through

but maybe you watch CNN, they don't even cover these press conferences because of their own political partisanship


----------



## GammaRayBurst (Jan 20, 2018)

B - uberlyftdriver said:


> Mnuchin said yesterday in the Coronavirus task force presser while standing next to the VP and POTUS 2 weeks
> the american people are going to eat these guys for lunch if they don't come through
> 
> but maybe you watch CNN, they don't even cover these press conferences because of their own political partisanship


I belueve you people are going to get desperate


----------



## munlochi (Jan 18, 2017)

B - uberlyftdriver said:


> Mnuchin said yesterday in the Coronavirus task force presser while standing next to the VP and POTUS 2 weeks
> the american people are going to eat these guys for lunch if they don't come through
> 
> but maybe you watch CNN, they don't even cover these press conferences because of their own political partisanship


It's $1200 that's why they're claiming fake news. $500 extra for a kid under 17. Lower if you make more $75k as a single


----------



## B - uberlyftdriver (Jun 6, 2017)

munlochi said:


> It's $1200 that's why they're claiming fake news. $500 extra for a kid under 17. Lower if you make more $75k as a single


thank you, i fixed it

oops, sorry everybody


----------



## B - uberlyftdriver (Jun 6, 2017)

GammaRayBurst said:


> I belueve you people are going to get desperate


me? i got this covered.
i have a six month $ emergency fund in place, some food and plenty of ammo


----------



## MajorBummer (Aug 10, 2019)

B - uberlyftdriver said:


> me? i got this covered.
> i have a six month $ emergency fund in place, some food and plenty of ammo


What are you gonna do? Shoot the virus?


----------



## B - uberlyftdriver (Jun 6, 2017)

MajorBummer said:


> What are you gonna do? Shoot the virus?


just a tool in the tool box


----------



## UberBastid (Oct 1, 2016)

OldBay said:


> If you tell them you don't have any income, and then later when you are doing your taxes and they see the 10K business loan, that they will figure it out. The business loan will be considered "income".


I have not applied for any of these, because my boss is still paying me ... but, I have gone through both of those programs, read up on it. Talked with my banker too ... who would be happy to process an SBE loan for me OR my boss. 
We talked about this subject.

This is what I've learned from looking at all the publications that the gov't has put out, and by looking at ALL of the questions and information asked in regards to BOTH programs.
I don't see any question on the loan papers about if the owner of the company has income from other sources. Sources like Social Security, Disability, passive income (stocks, bonds, rental income), unemployment or employment. None.
It doesn't ask if you're still working and earning income. 
The terms of the program is that they don't care.
There isn't even a space to explain that.

On the unemployment side (applies to California only) I didn't see any questions about borrowing money (not on my credit cards, from a bank, from SBE, from my relatives). They don't ask how much money you got in the bank. They just ask if your work has been reduced or eliminated because of Corona 19. That's it.

I took both of those right up to the 'submit' button and was never asked any questions that would disqualify me as a full or part-time driver.

*********

My banker knows that I have a Real Estate Brokers license. That I have been a broker for over 20 years, continuously licensed and member of trade associations. I earned one commission in the last twelve months, and it was reported on my taxes and the gov't got their cut. 
Banker guy suggested that, under the terms of the program, I would qualify for a loan, honestly and legally.
(BTW: the interest rate on these loans will be under 1%.) He also said that, as far as he can tell, if I stayed in the real estate biz after this is over, whatever I am 'loaned' will be 'granted' into a gift.
But ... even if it isn't ... its an interest rate that I can't get from family ... it's free money.

So, from what I took from that ... if you tell the truth, and answer the questions fully ... there is help out there for you guys. But, you have to ask. Nobody is going to force help on you. 
The President understands. He is used to walking among the working class. He wants you to have money in your pocket and he wants you to spend it ... from home.

There is a lot of help out there for you guys ... you just gotta raise your hand so they know who you are.
When they ask a question, tell the truth.
Easy.



Reynob Moore said:


> If you apply and refuse the loan you can still get UI (If they ever get their act together).


Dunno about your state, but in Cali ... there is no question on the original aplication, or on the continuing claim in regards to borrowing money.
I can use my credit card too, while on UI.
Cali just doesn't care about it.


----------



## OldBay (Apr 1, 2019)

UberBastid said:


> On the unemployment side (applies to California only) I didn't see any questions about borrowing money (not on my credit cards, from a bank, from SBE, from my relatives). They don't ask how much money you got in the bank. They just ask if your work has been reduced or eliminated because of Corona 19. That's it.


If you take out a loan to pay yourself your salary (as employee), then if you say on the UE form if your work has been reduced or eliminated, then it is a lie. You have to call in every week to state that you didn't have any income. They also ask if you've looked for work.

You absolutely can get away with this in the short term, the question is, when you file taxes for the year will they figure it out? Maybe the chance of them figuring it out is low, but that kind of fraud is a felony.

Also, I'm not sure it was linked in this thread or another, but the chances of getting a free grant being an uber driver is slim to none. A 10K grant is reserved for companies with 10+ employees. Maybe being a sole proprietor without rent/utilities for your business, you might get 1K. Maybe not even that.

So what it comes down to is that if you apply for the SBA loan, you may get a small grant, but you ALSO may get a larger grant or loan which could make applying for UE troublesome. Is a <1K grant worth potentially getting caught in a felony? Or being disqualified from a very generous UE program?

The advice I always hear on the forums is to "treat your rideshare like a business". Get a dashcam. Take precautions. Not do anything to jeopardize your future.

From the SBA site:
"The Applicant understands that the SBA is relying upon the self-certifications contained in this application to verify that the Applicant is an eligible entity to receive the advance, and that the Applicant is providing this self-certification under penalty of perjury pursuant to 28 U.S.C. 1746 for verification purposes."

Also.. from the SBA loan website:

"Compensation From Other Sources Received as a Result of the Disaster"

"Provide Brief Description of Other Compensation Sources "


----------



## MajorBummer (Aug 10, 2019)

The 10 k loan does not have a 10 employee requirement.where do you people get this?
Surely not from the SBA site.

My wife has 2 employees and she just applied.waiting on confirmation.


----------



## OldBay (Apr 1, 2019)

MajorBummer said:


> The 10 k loan does not have a 10 employee requirement.where do you people get this?
> Surely not from the SBA site.
> 
> My wife has 2 employees and she just applied.waiting on confirmation.


There was an interview with the guy in charge of SBA. He said 10K grant is reserved for company with 10+ employees. It says "up to 10K".

It was linked in another one of these "free 10K" threads.

Someone with two employees will get less than 10k.


----------



## mbd (Aug 27, 2018)

Two different loans 
Gig and non gigs.


----------



## MajorBummer (Aug 10, 2019)

I guess we just have to wait and see.
Speculation is just going to driving us nuts and with both of us out of a job,that is not helping.
My wife had her business for 32 years and we have no idea when this is going to end or if there will be enough business to reopen.


----------



## OldBay (Apr 1, 2019)

mbd said:


> Two different loans
> Gig and non gigs.


The other thing no one has mentioned is that the SBA acts as a broker between borrowers and lenders. The EIDL loans (administered through the SBA) still have to be serviced by private banks. An article earlier today said that only BoA was up and running, and all of the banks are prioritizing current customers who already have loans with them. The lines are long, and there are alot of people in front.

That program is even farther behind UE for ICs.

The point is that the EIDL is not a government loan, it is through a private bank, which means there will be another layer of oversight and red tape.

The government grant of "up to 10K" is contingent upon the size of the business, and likely whether the loan is approved (depends on credit rating of borrower). Government is not just going to give 10K to uber drivers.


----------



## Wolfgang Faust (Aug 2, 2018)

OldBay said:


> The other thing no one has mentioned is that the SBA acts as a broker between borrowers and lenders. The EIDL loans (administered through the SBA) still have to be serviced by private banks. An article earlier today said that only BoA was up and running, and all of the banks are prioritizing current customers who already have loans with them. The lines are long, and there are alot of people in front.
> 
> That program is even farther behind UE for ICs.
> 
> ...


I just called my bank.
One hour ago, they got an email on SBA loans. If you applied online and have your confirmation number, you are in process. No way to expedite process. The Feds have your EIN, routing and checking account numbers.


----------



## OldBay (Apr 1, 2019)

Wolfgang Faust said:


> I just called my bank.
> One hour ago, they got an email on SBA loan. If you applied online and have your confirmation number, you are in process.


I went through the application and did not see a way to specify which bank is processing the EIDL.

Do you have a pre-existing loan with a particular bank? Which bank is it?


----------



## Wolfgang Faust (Aug 2, 2018)

OldBay said:


> I went through the application and did not see a way to specify which bank is processing the EIDL.
> 
> Do you have a pre-existing loan with a particular bank? Which bank is it?


Your bank will process it.

I bank with TCF bank.


----------



## OldBay (Apr 1, 2019)

Wolfgang Faust said:


> Your bank will process it.


"Your bank?"

You mean the routing number you provide for a potential grant deposit?

From the article, BoA was the only one that was set up to process, and they were servicing existing business customers.


----------



## mbd (Aug 27, 2018)

OldBay said:


> The other thing no one has mentioned is that the SBA acts as a broker between borrowers and lenders. The EIDL loans (administered through the SBA) still have to be serviced by private banks. An article earlier today said that only BoA was up and running, and all of the banks are prioritizing current customers who already have loans with them. The lines are long, and there are alot of people in front.
> 
> That program is even farther behind UE for ICs.
> 
> ...


10 billion $ for the Gig workers


----------



## Wolfgang Faust (Aug 2, 2018)

OldBay said:


> "Your bank?"
> 
> You mean the routing number you provide for a potential grant deposit?
> 
> From the article, BoA was the only one that was set up to process, and they were servicing existing business customers.


Your bank.


----------



## OldBay (Apr 1, 2019)

Its like a broken record,

"Where's my stuff?"

Good luck. Let us know if there is any real progress.


----------



## Wolfgang Faust (Aug 2, 2018)

OldBay said:


> Its like a broken record,
> 
> "Where's my stuff?"
> 
> Good luck. Let us know if there is any real progress.


What?
You filled out form
You list your bank numbers
Your bank process

Article states only B unch
O f
A $**&0*s
are the only bank that is
UP AND RUNNING now

Wait


----------



## 2win (Jun 29, 2019)

Disaster loan program alright.... what a frickin’ mess


----------



## bigjohnprodriver (Mar 29, 2020)

theMezz said:


> It's a SBA loan - you have to pay it back, unless used for payroll, utilities or rent.
> It's an SBA 7a loan, administered by some banks.
> Clark Howard talks about it on his podcast https://clark.com/podcasts/
> 
> ...


It is a EIDL LOAN thru sba.gov. One Sen. said that 3 billion dollars were processed today. Does not hurt to apply for it. It's not illegal to apply. These are unprecedented times



Wolfgang Faust said:


> Not doing UI.
> You make your decisions, I'll make mine.





OldBay said:


> You will not legally be able to accept unemployment insurance.
> 
> The loan is to cover your payroll. You pay yourself your salary, therefore you can't claim to be unemployed .
> 
> State UI plus 600 weekly will be more than 10k in 10 weeks or so, and can continue much longer.


The loan separate from UI. Should be able to apply for both. There are several types of loans at sba.gov


----------



## GIGorJOB (Feb 29, 2020)

I hope I'm wrong and misinformed but with the PPP, 2.5x your average monthly payroll (potentially forgiven) is nice but what do you do about other business expenses, not necessarily related to rideshare or delivery, like rent, utilities, etc, if you don't want or can't afford to take a pay cut?

The EIDL grant is also welcome but they suggest that it can't be used to make up lost revenue or profit while payroll and certain expenses are eligible. If you're a sole proprietor and/or independent contractor who doesn't set up a traditional payroll or an LLC who doesn't elect corporation filing status, does profit, draws or disbursements, count as payroll under the EIDL?

Seems they do for the PPP but is largely in question for the EIDL. I'm making assumptions and am no expert but it seems under these types of structures or setups you may need to combine the two programs to come full circle, one to pay yourself and the other for fixed expenses. Ironically, this might be allowed as long as they are clearly used for the different purposes as stated but don't quote me on this. Something about reducing the PPP loan amount by what you were already granted under the EIDL and you could refi the EIDL or roll it into the PPP.

Weird because if a portion of the EIDL is a loan you are repaying at near market rates at this point and may or may not require some kind of a lien on the business assets, shouldn't you be allowed to do with it as you wish? Or are they only mandating what the grant portion gets used for?

Guess we'll find out. Don't want to get started on if and where UI figures into this and if it makes a difference if it's only the regular UI amount and not the extra $600.


----------



## bigjohnprodriver (Mar 29, 2020)

GIGorJOB said:


> I hope I'm wrong and misinformed but with the PPP, 2.5x your average monthly payroll (potentially forgiven) is nice but what do you do about other business expenses like rent, utilities, etc, if you don't want or can't afford to take a pay cut?
> 
> The EIDL grant is also welcome but they suggest that it can't be used to make up lost revenue or profit while payroll is eligible. Not necessarily related to rideshare or delivery but if you're a sole proprietor or independent contractor who doesn't set up a traditional payroll or an LLC who doesn't elect corporation filing status, do draws or disbursements count as payroll under the EIDL?
> 
> ...


I think on the EIDL loan or grant you don't have to pay it back. I think I might apply tonight. I am a sole proprietor independent contractor filing under Livery service. My car is for business and it is financed. I keep records to a tee. Rideshare is all I do for income. Why would I be denied.


----------



## UberBastid (Oct 1, 2016)

bigjohnprodriver said:


> I am a sole proprietor independent contractor filing under Livery service. My car is for business and it is financed. I keep records to a tee. Rideshare is all I do for income. Why would I be denied.


Exactly!
And if what you say is the truth, and you can prove it, and those are the answers you give to their questions: I'd be willing to bet you would not be denied.
But .. it's up to 'them'.
Just give 'them' the information they ask for, then let them decide.


----------



## munlochi (Jan 18, 2017)

__
https://www.reddit.com/r/smallbusiness/comments/fugttm

A letter to SBA mentioning how bad they are f'ing this up.

If you read the full letter they mention a phone to the SBA director, then this letter and they talk about how are they making sure little people are getting the money as its a first come first serve fund. And how they are screwing up the 10k part.

Interesting at worst.


----------



## GammaRayBurst (Jan 20, 2018)

GOD DANG IT SON!!!!! WTF!






im just a UBER DRIVER!









damn what do i do with this government money lol

i litterley put 10k that i made from uber AND lyft into this i wasn't expecting this... i did apply early as heck though.


----------



## CHUMP CHANGE (Jun 25, 2018)

GammaRayBurst said:


> GOD DANG IT SON!!!!! WTF!
> View attachment 442628
> im just a UBER DRIVER!
> View attachment 442628
> ...


So you're telling us that your account was zeroed out before the deposit &#129396;


----------



## GammaRayBurst (Jan 20, 2018)

CHUMP CHANGE said:


> So you're telling us that your account was zeroed out before the deposit &#129396;


i took out every penny to put gas in my car.......


----------



## OldBay (Apr 1, 2019)

You better believe all the SBA / EIDL / PPP delays are because they want to prevent the government from getting fleeced. They are aware that its rife for abuse.


----------



## Carblar (Sep 1, 2016)

GammaRayBurst said:


> GOD DANG IT SON!!!!! WTF!
> View attachment 442628
> im just a UBER DRIVER!
> View attachment 442628
> ...


What day do you apply and when did it hit your bank account?


----------



## GammaRayBurst (Jan 20, 2018)

Carblar said:


> What day do you apply and when did it hit your bank account?


Sunday



GammaRayBurst said:


> Sunday


This morning some how


----------



## Carblar (Sep 1, 2016)

GammaRayBurst said:


> Sunday
> 
> 
> This morning some how


Congrats! Sunday was the first day so your timing was excellent. It's also a good sign that they are indeed sending out the advances in the full amount. I applied Tuesday so hopefully they still have funds left when they get to me.


----------



## OldBay (Apr 1, 2019)

Carblar said:


> Congrats! Sunday was the first day so your timing was excellent. It's also a good sign that they are indeed sending out the advances in the full amount. I applied Tuesday so hopefully they still have funds left when they get to me.


He's trolling.

Only one bank (BoA) is set up for the grant and they are servicing existing customers. He put that money in the account from other sources.


----------



## touberornottouber (Aug 12, 2016)

OldBay said:


> He's trolling.
> 
> Only one bank (BoA) is set up for the grant and they are servicing existing customers. He put that money in the account from other sources.


If someone trolls about something like this, in my opinion they need to be banned.


----------



## OldBay (Apr 1, 2019)

touberornottouber said:


> If someone trolls about something like this, in my opinion they need to be banned.


You notice he didn't show the actual deposit, only the account summary.

If he genuinely wanted to help other people out, he would have given as much info as possible, showed the actual deposit.


----------



## Atom guy (Jul 27, 2016)

touberornottouber said:


> If someone trolls about something like this, in my opinion they need to be banned.


If giving false hope got you banned, we'd have no politicians &#128514;


----------



## GammaRayBurst (Jan 20, 2018)

OldBay said:


> You notice he didn't show the actual deposit, only the account summary.
> 
> If he genuinely wanted to help other people out, he would have given as much info as possible, showed the actual deposit.


----------



## GIGorJOB (Feb 29, 2020)

Last I read the PPP was processed and coming from the banks and insured by the gov't to a percentage, although the gov't may be funding these too it goes through the bank like UI is going through the states. On the other hand, the EIDL was/is applied for directly with the SBA and the funds coming directly from the treasury department. Has this changed?


----------



## Atom guy (Jul 27, 2016)

GammaRayBurst said:


> View attachment 442715


Nice. What day did you fill out the application?


----------



## B - uberlyftdriver (Jun 6, 2017)

GammaRayBurst said:


> View attachment 442715


PHOTOSHOP


----------



## GammaRayBurst (Jan 20, 2018)

No.. Photoshop LMFAO I don't use Photoshop an Uber driver not an artist 


B - uberlyftdriver said:


> PHOTOSHOP


Ooo



GammaRayBurst said:


> No.. Photoshop LMFAO I don't use Photoshop an Uber driver not an artist.





Atom guy said:


> Nice. What day did you fill out the application?


Sunday


----------



## Mkubmi (Apr 4, 2020)

I have a dilemma... what if I don’t have an actual bank account through the bank? I have a green dot debit card which I gave the routing and account information on my sba application. Will I be denied for not having a traditional bank account??


----------



## GammaRayBurst (Jan 20, 2018)

Mkubmi said:


> I have a dilemma... what if I don't have an actual bank account through the bank? I have a green dot debit card which I gave the routing and account information on my sba application. Will I be denied for not having a traditional bank account??


 a bank is a bank? You should be good to go?


----------



## Mkubmi (Apr 4, 2020)

GammaRayBurst said:


> a bank is a bank? You should be good to go?


I know these cards have limits to how much can be deposited. That's my real concern.


----------



## Atom guy (Jul 27, 2016)

Mkubmi said:


> I know these cards have limits to how much can be deposited. That's my real concern.


Then open a real bank account.


----------



## GammaRayBurst (Jan 20, 2018)

Mkubmi said:


> I know these cards have limits to how much can be deposited. That's my real concern.


Please try to get a regular bank


----------



## Mkubmi (Apr 4, 2020)

Once I do, Do I just call and have it updated ?


----------



## Slim Shady (Feb 4, 2018)

ChrisFZ said:


> It's been changed.
> 
> 10k only if you have 10+ employees
> 
> ...


That is if you're DENIED EIDL. Reading comprehension much?

"Yes, if someone applied for EIDL, they will be contacted by the SBA and made aware of the $10,000 advance and give them directions. They can go back into their EIDL application and apply for the advance. Even if you don't get approved for EIDL, you can still get the $10,000 cash advance. Now whether you get the full $10,000 depends on the size of the business. If you have 10 or more employees, you will get it."


----------



## Reynob Moore (Feb 17, 2017)

I wonder how much will be the max an ant can get.


----------



## JohnnyBravo836 (Dec 5, 2018)

At first, I thought that "diseaster loan" was a very clever pun, but I guess that would be giving the OP too much credit.


----------



## UberBastid (Oct 1, 2016)

OldBay said:


> If you take out a loan
> 
> Also.. from the SBA loan website:
> "Compensation From Other Sources Received as a Result of the Disaster"
> "Provide Brief Description of Other Compensation Sources "


A loan is not 'compensation'.



OldBay said:


> A 10K grant is reserved for companies with 10+ employees.


I been thru the paperwork pretty extensively ... where did you see that?



OldBay said:


> Maybe being a sole proprietor without rent/utilities for your business, you might get 1K.


Yea, maybe. Like I said, tell the truth and let them decide.
And ... if you don't want your $1k - send it on to me. Or better yet, donate it to Salvation Army - they do real good work out there.



OldBay said:


> Maybe being a sole proprietor without rent/utilities for your business, you might get 1K.


Yea, maybe. Like I said, tell the truth and let them decide.
And ... if you don't want your $1k - send it on to me. Or better yet, donate it to Salvation Army - they do real good work out there.


----------



## OldBay (Apr 1, 2019)

UberBastid said:


> A loan is not 'compensation'.


Unemployment checks are compensation.

This shows me that if you apply for the loan, you have to tell them about unemployment. Or NOT take unemployment if you apply for the loan.

The loan is to keep people conducting the business they were before the pandemic. So, if you apply for the loan to "keep the doors open", then you will be expected to keep working full time. And thus can't apply for UE.

You are viewing it as a handout. Greed clouds morals and logic.


----------



## UberBastid (Oct 1, 2016)

OldBay said:


> This shows me that if you apply for the loan, you have to tell them about unemployment.


I have to tell them everything and anything that they ask for.
And, I would ... in every aplication.

Hey, speaking of which, you guys need to apply for Food Stamps.
Seriously.

Again ... Just tell the truth and answer the questions. 
You might qualify - now.

Also, call your bank and see if you can get a couple of payments put over on the end of the loan.
My bank is doing this with no penalty or interest charges.
My bank is also offering 2% signature loans to all of their current depositers. They will fax or email the IOU to you, send it back and they'll put $5k in your account _same day. _
Same with credit card companies .. . talk to them.


----------



## OldBay (Apr 1, 2019)

UberBastid said:


> I have to tell them everything and anything that they ask for.
> And, I would ... in every aplication.
> 
> Hey, speaking of which, you guys need to apply for Food Stamps.
> ...


So if you are granted the loan to keep the doors open, will you keep driving FT?

If you apply for the loan and use your salary as justification, but then stop working, that is a lie.

The loan is not so you can sit at home and watch TV. The loan is to keep businesses operating, to keep employees on payroll. The reason the govt wants to do this is so that the employees do not get fired and claim unemployment.


----------



## Slim Shady (Feb 4, 2018)

OldBay said:


> Unemployment checks are compensation.
> 
> This shows me that if you apply for the loan, you have to tell them about unemployment. Or NOT take unemployment if you apply for the loan.
> 
> ...


Dude stfu already. UI and EIDL are two separate things. You don't wanna apply then don't but stop misleading people you dumb ****.


----------



## UberBastid (Oct 1, 2016)

OldBay said:


> So if you are granted the loan to keep the doors open, will you keep driving FT?


Of course. That's the purpose. It is to ensure that small business does not go under.
This is HELP that is INTENDED for people just like you.

Ya know, there is nothing to prevent you from writing a registered, certified letter to UI and SBE referencing your account numbers and explaining the situation that has you so concerned. It may take a few weeks to get a response, but IF you accused of anything illegal it would cover you ... I would have no problem paying it back as a loan at 1% interest.


----------



## OldBay (Apr 1, 2019)

UberBastid said:


> Of course. That's the purpose. It is to ensure that small business does not go under.
> This is HELP that is INTENDED for people just like you.


Well thats great. You are being honest. As long as you keep driving FT. (Does that mean you will keep the app on while sitting at home or be actively driving like usual? If memory serves me, you're a PT driver, right?)

Many people are under the impression that they can take the loan and claim UI. The math that I've done shows that UI+600 will probably be better for an Uber driver.

If someone takes out a 20K loan to cover their expenses over the next six months, and the grant they are given is only 1K, but they can't apply for UI, then they are worse off than they would be otherwise.


----------



## UberBastid (Oct 1, 2016)

OldBay said:


> The loan is not so you can sit at home and watch TV.


YES IT IS.
THAT IS EXACTLY WHAT THE GOV'T WANTS YOU TO DO.


----------



## OldBay (Apr 1, 2019)

The loan is to keep employees on the payroll and working. Its starting to feel like you are trolling.

I'm out.


----------



## UberBastid (Oct 1, 2016)

OldBay said:


> The loan is to keep employees on the payroll and working. Its starting to feel like you are trolling.
> 
> I'm out.


They why does the loan ap say that you can be a self employed proprietor?
If I tell them, in writing, that there is only one person in this 'company', and I been filing taxes that way for years ... and they approve me and give me a loan ... how is that morally or legally wrong?

And, you are feeling like that because you are just beginning to realize that you are wrong.


----------



## OldBay (Apr 1, 2019)

UberBastid said:


> They why does the loan ap say that you can be a self employed proprietor?
> If I tell them, in writing, that there is only one person in this 'company', and I been filing taxes that way for years ... and they approve me and give me a loan ... how is that morally or legally wrong?
> 
> And, you are feeling like that because you are just beginning to realize that you are wrong.


----------



## newu (Aug 10, 2015)

GammaRayBurst said:


> GOD DANG IT SON!!!!! WTF!
> View attachment 442628
> im just a UBER DRIVER!
> View attachment 442628
> ...


@*GammaRayBurst 
Did you apply with simplified application or the old one? and this is EIDL grant right? did you write independent contractor or sole propeitorship?*


----------



## wastaxinowuber (Oct 23, 2019)

If Vandelay Industries can get a loan why can't we?


----------



## Stevie The magic Unicorn (Apr 3, 2018)

Everywhere i'm looking is showing that uber/lyft drivers DO apply for this.

https://bench.co/blog/operations/paycheck-protection-program-self-employed/
The kicker is you had to have been doing it before february 15.

It also says you can NOT get unemployment while also getting the PPP program.


----------



## B - uberlyftdriver (Jun 6, 2017)

Stevie The magic Unicorn said:


> Everywhere i'm looking is showing that uber/lyft drivers DO apply for this.
> 
> https://bench.co/blog/operations/paycheck-protection-program-self-employed/
> The kicker is you had to have been doing it before february 15.
> ...


this is if Your company has employees

the EIDL grant/loan program is the one for sole proprietor/contractors


----------



## OldBay (Apr 1, 2019)

Stevie The magic Unicorn said:


> Everywhere i'm looking is showing that uber/lyft drivers DO apply for this.
> 
> https://bench.co/blog/operations/paycheck-protection-program-self-employed/
> The kicker is you had to have been doing it before february 15.
> ...


The real kicker is that the loan amount will be determined by NET profit. If you take the standard deduction, most FT X drivers show very little net profit, as reflected in taxes.

"Your salary will be determined by your net profit. If you were operational in 2019 and have filed your 2019 taxes, this will be reported on line 31 of your Schedule C. If you have yet to file your 2019 taxes, but have bookkeeping for your business through 2019, this will be the Net Profit line on your Income Statement.

If you don't have bookkeeping or a tax return, we strongly recommend that you get caught up with your bookkeeping. Without a payroll service, bookkeeping is the best way to determine your salary as a sole proprietor.

Your monthly average payroll expense will be your annual net profit divided by 12. If your annual net profit is over $100,000, you may only claim up to $100,000 divided by 12."



B - uberlyftdriver said:


> this is if Your company has employees
> 
> the EIDL grant/loan program is the one for sole proprietor/contractors


Nope. Read it.


----------



## B - uberlyftdriver (Jun 6, 2017)

Read what . This?

I respectfully disagree,

the application process for the program I screenshot clearly had a sole proprietor section and I have successfully applied


----------



## OldBay (Apr 1, 2019)

B - uberlyftdriver said:


> Read what . This?
> 
> I respectfully disagree,
> 
> the application process for the program I screenshot clearly had a sole proprietor section and I have successfully applied


Yes, there is the SBA loan, with the purpose of keeping employees on payroll.

It asks if you are receiving any other disaster compensation. Meaning, are you receiving UE?

If NO, you can apply for the loan. If Yes, I'm pretty sure they will reject it.

Here is the kicker. The UE+$600 is only available for the next month (must apply within 30 days). If you take the SBA loan to cover your salary, you won't be able to apply for UE+600. When the SBA loan runs out, you might be able to apply for UE, but it won't include the $600 extra weekly.

The more I look at this, its clear that the safeguards are in place to prevent people from double dipping.

The SBA loan is probably better for people who plan to keep working. However, thats only if you get a large portion as a grant. If the grant is smaller, then you are screwed. Research I've done show that a 10K grant is reserved for companies with 10+ employees. A RS driver may get 1K or less as grant.

The UI+600 is probably better for drivers who aren't going to work. In my state, the work search requirement is waived for only ten weeks, so the maximum "free" benefit a driver will get might be somewhere in the 6-10K range. After that you have to prove you are looking for work, at Amazon, ups, grocery stores, etc. But at least this has the potential to go up to 39 weeks, although the +600 will fall off at some point.

The PPP loan looks completely worthless for rideshare drivers as its based on NET income. Because of standard mileage deduction, most drivers net very little on their taxes.

Good luck on whatever you chose to do. I think the SBA loan is a red herring. People who apply for it now and get a grant will wish they had applied for UE+600.


----------



## Seamus (Jun 21, 2018)

OldBay said:


> The loan is to keep businesses operating, to keep employees on payroll. The reason the govt wants to do this is so that the employees do not get fired and claim unemployment.


@OldBay I have been reading your posts with a great deal of patience. I have thoroughly along with my accountant and lawyer who owns the company i run, Been heavily involved in all of this in the last week.

Where you are going wrong is in injecting your own opinion into the facts of the program. You are taking the foundation of the program but injecting your own thoughts and presenting them as if the are facts, that's just incorrect.

Regarding rideshare and the 10 K advance, there is absolutely no direction that you have to continue working Uber full-time. You need to start reading these things very literally as they're written, and not keep injecting expanding personal thoughts into them . The purpose is so people don't file for unemployment stop right there, the end, period. There is absolutely, positively no verbiage to keep taking Uber rides as a condition for this.

Even the PPP which the other company I run we have 20 employees there is no provision to open the door and operate. In many cases employers in lockdown states aren't even allowed to open their business and operate. The only goal is to keep paying your employees and providing their healthcare group insurance benefits. If you have the doors closed but you pay them their salary and provide their benefits, Wether you open the doors and operate is totally irrelevant.

You are being very negative about drivers applying for assistance and I don't know what your agenda is. You should know however, whether you realize it or not you're giving a lot of misinformation.


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## Johnny Mnemonic (Sep 24, 2019)

GammaRayBurst said:


> you can apply as an independent contractor


You can apply as a Martian, too. Doesn't mean you're going to be approved.

I assume you have tax documentation of payroll to employees, otherwise the loan can't be converted to a grant. Ever.

You might want to find out if SBA loans are dischargable in bankruptcy, or if they are non-dischargeable (like student loans) and follow you for life.

But hey, if you want to go into debt to the Federal Government to the tune of five-figures, I'm sure no one regretted that ever.


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## OldBay (Apr 1, 2019)

Seamus said:


> @OldBay I have been reading your posts with a great deal of patience. I have thoroughly along with my accountant and lawyer who owns the company i run, Been heavily involved in all of this in the last week.
> 
> Where you are going wrong is in injecting your own opinion into the facts of the program you are taking the foundation of the program but injecting your own thoughts and presenting them as if their fax sorry that's just incorrect.
> 
> ...


The only point that we seem to disagree on is if taking the loan requires recipient (employee) to actually work.

I'm willing to revise my opinion on this; it doesn't matter. If you are receiving a salary, you arent eligible for UE+600.

I think everything else I've stated is fact-based on research. My agenda is to get to the bottom of the hype, to level set with people and explore the reasons why someone wouldn't want to take the loan.

Its clear to me now that the safeguards are in place to prevent someone from getting an SBA grant AND UE+600. So apply for the SBA knowing that you probably wont be getting UE.

The best course of action for drivers is UE+600. Everyone's greed wishes that wasn't true. They want an SBA grant AND UE+600.

People are saying "apply for the SBA, what have you got to lose?" I'm saying, if you apply for the SBA you probably will lose UE. Verbiage in the SBA application implies that they are mutually exclusive. When people file their 2020 taxes, they will have to list the SBA loan as income. If they were also receiving UE+600, there will be serious problems.


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## Johnny Mnemonic (Sep 24, 2019)

OldBay said:


> The only point that we seem to disagree on is if taking the loan requires recipient (employee) to actually work.
> 
> I'm willing to revise my opinion on this; it doesn't matter. If you are receiving a salary, you arent eligible for UE+600.
> 
> ...


I also find it difficult to believe that anyone who gets an SBA loan would qualify for rent/mortgage forbearance.

Though If I were a landlord, I'd be pushing everyone to borrow as much as possible in any way to get my rent check.


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## B - uberlyftdriver (Jun 6, 2017)

Seamus said:


> @OldBay I have been reading your posts with a great deal of patience. I have thoroughly along with my accountant and lawyer who owns the company i run, Been heavily involved in all of this in the last week.
> 
> Where you are going wrong is in injecting your own opinion into the facts of the program you are taking the foundation of the program but injecting your own thoughts and presenting them as if their fax sorry that's just incorrect.
> 
> ...


thank you

all i know is

if the american people do not get some help soon social fabric will start disintegrating


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## _Tron_ (Feb 9, 2020)

I have applied for _everything_. We need _everything_ in order to pay for what all this newly minted money may cost us down the road.

I told the truth. If I get rejected, I'm rejected. If they come after me later I have a bunker, a year's worth of food, and the 1874 Colt Gatling gun from The Magnificent Seven (fully restored and specially modified by Han Solo) that swings 360°.

(Ladies that swing 360° are welcome to join my fortification. The more that join the longer food supplies will last)


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## GIGorJOB (Feb 29, 2020)

Many businesses have been ordered to cease operations completely, deemed none essential by their local jurisdictions and so the purpose of the loan, especially the EIDL, is IMO to "float" those businesses until a time when they can resume in some capacity.

The EIDL was originally enacted in zones that were the most impacted such as parts in Washington and New York State, for example. I'm no expert and no one take my word for it as there is too much info out there to make sense of it all but there does not seem to be any suggestion that businesses need to be operational or can't decide to cease operation if they want to. The main idea and purpose was to keep paying people or yourself with either program.

Again, this is just my opinion but they can mandate what you use the money for if you want it to be a grant or forgiven, depending on which one, but they probably cannot force you to work. The basis is that it's a loan, if all else fails, and so as long as you repay it and they have recourse if you cannot, they likely can't make you do much else.

Some areas may not be as affected now but might be ordered to close later on, as other parts of the country might peak later. The purpose of the programs is to also support the businesses who have seen slowing of business due to the virus impact but have not ceased.

I would agree that if you are still paying yourself with either loan program, it would not make sense to file for UI as well but I'm not suggesting not to be honest with them and try if one wants, it's anyone's call and at their own risk. I can see room for UI in all of this as well.

The PPP only covers payroll for a set time and if you have things like business rent and utilities and have been ordered to close or are impacted how do you pay those if it doesn't come out of your end?

The EIDL IMO is not clear if "payroll" includes profits or draws if you're not set up with a traditional payroll and so, worst case, it only allows for other expenses in those cases, how do you pay yourself if you don't take out a PPP as well or file for unemployment?

I've read that "the EIDL loans are not intended to replace lost sales or profits, rather they are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred" and "cannot be used as disbursements to owners, unless for performance of services". This needs clarifying IMO.

To some earlier points, I have seen nothing to suggest that you cannot get either loan or maybe both if used for different purposes as described, specifically if you are a sole proprietor and depending on the line of business you're in.

UI might have the potential for the greatest payout but also the least. I don't know how it works in most states but in mine, they do require that you actively seek work and accept a job if within certain parameters such as, but not limited to, pay and field. They want to see proof and you could get audited and face severe penalties or worse for lying.

It's pretty strict here too, if you help a neighbor with something even for free and it has a dollar value they expect you to not collect for that day, for example. Or say you obviously have time now and make a few day trades, profit or loss, that may also count as a day of work that should be excluded. Anything you work at that is an "opportunity" to generate money IMO. Don't know if they are relaxing any of these standards or requirements or how enforced it could be with the reduction of workforce. You may also be able to work part time and still receive partial UI, depends on the state and new rules.


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## OldBay (Apr 1, 2019)

GIGorJOB said:


> UI might have the potential for the greatest payout but also the least. I don't know how it works in most states but in mine, they do require that you actively seek work and accept a job if within certain parameters such as pay and field. They want to see proof and you could get audited and face severe penalties or worse for lying. It's pretty strict too, if you help a neighbor with something even for free and it has a dollar value they expect you to not collect for that day, for example. Or say you obviously have time now and make a few day trades, profit or loss, that may also count as a day of work that should be excluded. Anything you work at that is an "opportunity" to generate money IMO. Don't know if they are relaxing any of these standards or requirements or how enforced it could be with the reduction of workforce.


In my state, the look for work requirement is waived for 10 weeks.

I wouldn't want to jeopardize the UE+600 by applying for either of the loans. Even if you can get away with it in the short term, the issue will arise at tax time.

The manager of the EIDL said the 10K grant was reserved for companies with 10+ employees. The PPP loan is based on net earnings, so likely very small for a rs driver. The UE+600 is the largest benefit and keeps paying if you cant find new work.


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## Seamus (Jun 21, 2018)

OldBay said:


> If you are receiving a salary, you arent eligible for UE+600.


I think you are *probably *correct on that point.

If you are receiving UI and you apply for the 10k you would have to list the UI as "other compensation *as a result of Coronavirus epidemic *" and list it in the description . If you do *presumably *you won't get the 10k. If you don't that is fraudulent.
Same in reverse if you get the 10k you would have to disclose that on the UI application.
It's one or the other apparently.


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## GIGorJOB (Feb 29, 2020)

OldBay said:


> In my state, the look for work requirement is waived for 10 weeks.
> 
> I wouldn't want to jeopardize the UE+600 by applying for either of the loans. Even if you can get away with it in the short term, the issue will arise at tax time.
> 
> The manager of the EIDL said the 10K grant was reserved for companies with 10+ employees. The PPP loan is based on net earnings, so likely very small for a rs driver. The UE+600 is the largest benefit and keeps paying if you cant find new work.


Again, I'm no expert but that sounds like a reasonable decision based on your state and circumstances. Probably the best program for you. Everyone will vary. I agree the PPP for a delivery or rideshare driver only, may not amount to much.

I don't know but here, we pay taxes on unemployment and so that's something else to consider. I haven't heard anything about tax implications for the loans, not that there aren't any but I know any loan amount that has to be repaid could be a write off, at least the interest part if nothing else (which may or may not be much), but we'll have to see, same for the 10 employee rule on the EIDL. Think, the SBA has been going back and forth for additional guidance and intent as are some of the banks with the PPP.

Some have started with the EIDL to see their offer and then decide to go to or possibly combine that with the PPP or forget it and just use UI, while we see what can or can't be combined, etc, until the gov't might implement more programs and/or changes. Forget about work, this feels like a full time job, they should just pay us for having to figure this stuff out.


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## _Tron_ (Feb 9, 2020)

theMezz said:


> Clark Howard talks about it on his podcast https://clark.com/podcasts/


Thanx for the link Mezz. Never heard of him. Lots of good info.


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## nj9000 (Jun 6, 2019)

I was going to apply for both the sba loan/grant and unemployment. Its not a lie if the sba grant application asks if I'm receiving unemployment, and I say no on the app, as my unemployment wouldn't have been approved yet. Same with the unemployment app, while I'm applying I wouldn't have been approved for the grant yet. If they both come through, well, you're supposed to report income on a weekly or bi-weekly basis to unemployment office, and I would report the grant money and perhaps have to pay back benefits for that month?

I don't see a reason to hold off on applying for unemployment just because you're applying for the sba eidl and waiting to hear back on that. For both of these applications there's a massive backlog and you want to get in on it sooner rather than later. And the purpose of all this aid is to cover your ass, so I don't think its morally wrong to apply for everything like this.

I've been holding back on applying for anything so far, though. Most state unemployment offices haven't updated their applications to include 1099 yet. I don't want to have to go through an appeals process if my application gets rejected.

With the SBA EIDL the biggest pitfall is the amount of the grant. I've been waiting to see what other RS drivers get. Like OldBay said there seems to be a time limit on applying for UE+$600. Worst thing that could happen would be applying for the EIDL and getting a grant of only like $1k, so you end up having to report that to unemployment office and somehow get screwed out of the UE+$600, not being able to really apply til next month when the additional $600 is off the table. Of course, there's an option of not reporting the grant income and dealing with the consequences next year? Double-dipping like apparently a lot of people are tempted to do?

To me, the $10k grant would be much better than UE+$600, if you get the full value of the grant. I was under the impression that they don't even look at your application, they just send you out the $10k as an advance as the applications will get backlogged real bad. Anyways, what is unemployment, 40% of your regular earnings? That'd be $180-$200/week for me. $800/week for 10 weeks would be $8000. And it could be stopped at any time, especially if this coronavirus stuff blows over earlier than expected. I also know from being on FOOD STAMPS that if you're receiving weekly/monthly benefits they constantly try to fight you on it and deny you. That's one reason I posted on here so much in favor of keeping society open for as long as possible for people to make their own money before getting stuck dealing with welfare.



Edit: I also remember reading about the EIDL and it saying its good for more than just payroll. Its not the PPP or whatever. It says it can be used for other operating expenses, like rent and utilities. So what if you only got a $1k grant, and you spend that on rent+utilities and can still collect unemployment as the grant was spent on that stuff and not payroll?


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## OldBay (Apr 1, 2019)

Seamus said:


> I think you are *probably *correct on that point.
> 
> If you are receiving UI and you apply for the 10k you would have to list the UI as "other compensation *as a result of Coronavirus epidemic *" and list it in the description . If you do *presumably *you won't get the 10k. If you don't that is fraudulent.
> Same in reverse if you get the 10k you would have to disclose that on the UI application.
> It's one or the other apparently.


Thats what I've been saying.



nj9000 said:


> I was going to apply for both the sba loan/grant and unemployment. Its not a lie if the sba grant application asks if I'm receiving unemployment, and I say no on the app, as my unemployment wouldn't have been approved yet. Same with the unemployment app, while I'm applying I wouldn't have been approved for the grant yet. If they both come through, well, you're supposed to report income on a weekly or bi-weekly basis to unemployment office, and I would report the grant money and perhaps have to pay back benefits for that month?
> 
> I don't see a reason to hold off on applying for unemployment just because you're applying for the sba eidl and waiting to hear back on that. For both of these applications there's a massive backlog and you want to get in on it sooner rather than later. And the purpose of all this aid is to cover your ass, so I don't think its morally wrong to apply for everything like this.
> 
> ...


My thinking is that if you get a 10K grant, the size of the loan will be significantly larger.

If they give you a 30K loan, that would more than cover your payroll. Be hard to justify UE at that point.

Likewise a 1K grant associated with a 10K loan, that 10K will get you through that first 30 days where UE+600 is still on the table.

I suspect alot of the delays are in the implementation of UE. The EIDL loan asks if you are getting any disaster compensation. When the new UE forms are up on state websites, there will probably be a question about "did you apply for an EIDL"?

The overall reward of the EIDL and UI+600 appear similar over the first 10 weeks, but if this drags on and you can't find a job, the UE will be better. Furthermore, the chance of getting a 10K grant as a sole proprietor, based on what I read, is slim to none. And it potentially puts the UE+600 at jeopardy. And if you do get both, there will be problems at tax time.

UE+600 is the right choice for me. I'm just going to wait for my state to get it going.


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## TXUbering (May 9, 2018)

theMezz said:


> It's a SBA loan - you have to pay it back, unless used for payroll, utilities or rent.
> It's an SBA 7a loan, administered by some banks.
> Clark Howard talks about it on his podcast https://clark.com/podcasts/
> 
> ...


The worse case scenario is they can tell you is "No you don't qualify". The best case scenario is you're approved for the $10,000 and can use that loan to pay off other high interest loans.


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## Leoncio (Mar 6, 2019)

The way I see it is if you get anything from the SBA make sure you use those funds to pay your car payment, cell and internet bills, gas or anything related to driving. Keep records of this because it says IRS or SBA will ask for proof eventually. I have been driving for bloodsuckers Uber and Lyft since 2015. If the governent is giving us a lifeline, I say lets take it. Just be honest with everything. We never qualified for jack shit before. The other best thing that can come out of this is hopefully the Unemployment offices go after Uber, Lyft, Amazon, Insta, grubhub, doodash, etc for unpaid unemployment taxes.


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## nj9000 (Jun 6, 2019)

I found this post on reddit in the small business subreddit, where someone referenced the law:

"
Dude - NICE!! Thank you!!

Only critique would be to cite or include verbiage directly from H.R.748 itself. Also, I think it is important to note that the term "grant" is indeed used throughout H.R.748, Section 1110. In fact, the TITLE of section 1110 is "EMERGENCY EIDL *GRANTS*".

Section 1110, Paragraph (1):
"[...] the Administrator provide an advance that is, subject to paragraph (3), *in the amount requested* by such applicant [...]".

Paragraph 3:

"(3) AMOUNT.-The amount of an advance provided under this subsection shall be not more than $10,000."

I know it says "shall be *not more than* $10,000", however, paragraph (1) clearly states that the advance will be "in the amount requested by such applicant". I think it is safe to assume we have ALL "requested" $10,000. Therefore, a $10,000 payment, and ONLY $10,000 (no more, no less), will satisfy both paragraphs (1) and (3).

That text is now United States federal law, so I think it has some "clout" 

Anyway, cheers for the preemptive appeal note!"


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## nurburgringsf (Aug 26, 2016)

_Tron_ said:


> I have applied for _everything_. We need _everything_ in order to pay for what all this newly minted money may cost us down the road.
> 
> I told the truth. If I get rejected, I'm rejected. If they come after me later I have a bunker, a year's worth of food, and the 1874 Colt Gatling gun from The Magnificent Seven (fully restored and specially modified by Han Solo) that swings 360°.
> 
> (Ladies that swing 360° are welcome to join my fortification. The more that join the longer food supplies will last)


A gatling gun/machine gun is only effective with a platoon/company. The moment you start firing, every enemy rifleman and sniper will aim for you.


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## Uber's Guber (Oct 22, 2017)

GammaRayBurst said:


> The Act also authorizes the SBA to skip reviewing the applicant's tax returns and* rely solely on a credit score*


This clause alone would discount any _full-time_ Uber driver from qualifying. :biggrin:


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## nurburgringsf (Aug 26, 2016)

Leoncio said:


> The way I see it is if you get anything from the SBA make sure you use those funds to pay your car payment, cell and internet bills, gas or anything related to driving. Keep records of this because it says IRS or SBA will ask for proof eventually. I have been driving for bloodsuckers Uber and Lyft since 2015. If the governent is giving us a lifeline, I say lets take it. Just be honest with everything. We never qualified for jack shit before. The other best thing that can come out of this is hopefully the Unemployment offices go after Uber, Lyft, Amazon, Insta, grubhub, doodash, etc for unpaid unemployment taxes.


This. Thank you. Its $356 billion stimulus for small businesses. I'm sure we independent contractors constitute a very large portion of small businesses. The economy (especially US economy) is approx. 50% small business. We are the back bone as stated by sec of state Steve Mnuchin.

Most of us should take it easy and relax. It was only yesterday that the white house task force briefed us on SBA. Prior to yesterday most of us had no idea SBA existed. (Small business administration.)


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## _Tron_ (Feb 9, 2020)

nurburgringsf said:


> A gatling gun/machine gun is only effective with a platoon/company. The moment you start firing, every enemy rifleman and sniper will aim for you.


Not a problem. The gun emplacement is armored and I will be defending a long narrow driveway up to the property, so enemies can attack from just one angle. Think the Battle of Thermopylae. And this time there won't be one of those secret trails a traitor can use to tip off the enemy.


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## munlochi (Jan 18, 2017)

Uber's Guber said:


> This clause alone would discount any _full-time_ Uber driver from qualifying. :biggrin:


Except they lowered that standard as well from 575 to 475. Your mom would even qualify.


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## munlochi (Jan 18, 2017)

Guy that works at the SBA Disaster Relief department.

Asked if the 15k max was 25k with the 10k advance.


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## JonC (Jul 30, 2016)

B - uberlyftdriver said:


> this is if Your company has employees
> 
> the EIDL grant/loan program is the one for sole proprietor/contractors


You can do both.

If you use the EIDL to pay for other business expenses, you can use the PPP to pay yourself.

The SBA is really making a mess of it at this point. Contact your senators and reps and make it clear that you want the full EIDL grant.


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## Atom guy (Jul 27, 2016)

SBA tweet today says companies applying for EIDL get $1000 per employee up to $10000 grant, with sole proprietors getting only $1000. Not the text of the law at all, but that's the hazard of vague laws that politicians expect bureaucrats to interpret.


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## nurburgringsf (Aug 26, 2016)

Lolz, what the heck is 1000$ gonna do? 

Small businesses get a life line and contractors get a bone.


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## GammaRayBurst (Jan 20, 2018)

Atom guy said:


> SBA tweet today says companies applying for EIDL get $1000 per employee up to $10000 grant, with sole proprietors getting only $1000. Not the text of the law at all, but that's the hazard of vague laws that politicians expect bureaucrats to interpret.


Luckily i applied before these losers did that


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## Carblar (Sep 1, 2016)

Gig workers are in limbo with UE, SBA, and stimulus


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## OldBay (Apr 1, 2019)

GammaRayBurst said:


> Luckily i applied before these losers did that


How long will it take you to pay off the $9000 loan you took?


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## UberBastid (Oct 1, 2016)

OldBay said:


> How long will it take you to pay off the $9000 loan you took?


At a less than 1% interest rate ... why would he care?


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## _Tron_ (Feb 9, 2020)

By the way, the other name for COVID-19 is _character test_. We are all being given a character test. Let's do the best we can to pass it.


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## UberBastid (Oct 1, 2016)

Carblar said:


> Gig workers are in limbo with UE, SBA, and stimulus


Us Catholics call it Purgatory.
Same as Hell, but temporary.


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## Juggalo9er (Dec 7, 2017)

UberBastid said:


> At a less than 1% interest rate ... why would he care?


Did you even read the interest rates?
Didn't see a single post saying they got the money


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## mbd (Aug 27, 2018)

Looks like another stimulus coming in May...
1 more check ?


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## OldBay (Apr 1, 2019)

mbd said:


> Looks like another stimulus coming in May...
> 1 more check ?


Now I know it's social engineering.

We haven't even got the first and they're talking about a second.


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## MajorBummer (Aug 10, 2019)

B - uberlyftdriver said:


> Read what . This?
> 
> I respectfully disagree,
> 
> the application process for the program I screenshot clearly had a sole proprietor section and I have successfully applied


I also dont see anything there about needing to have 10 employees.


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## Legalizeit0 (Jul 26, 2017)

“ Does more than 1/3 of your income derive from legal gambling activities?“

poker players need not apply.


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## Working4peanuts (Jan 16, 2018)

GammaRayBurst said:


> Luckily i applied before these losers did that


What day did you apply?


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## NISSA4152 (Apr 23, 2019)

B - uberlyftdriver said:


> its not a f'in loan!!! its grant from the SBA to save your sole proprietor ass and you can also file for unemployment, its part of the care act that just got signed into law
> 
> please read the middle paragraph on the SBA.gov site
> 
> i know reading is hard for uber drivers but its ok


I agree with this comment I think from what I read that if you're not approved for the loan and there is a place that you check for the for the $10,000 advance. So if you don't get approved for the SBA loan that you would $10,000 Grant. But I was reading and one person received the grant and only got $3,500. Also with that being a grant I believe you're still eligible to apply for the unemployment in your state. As my understanding grants are not considered wages. But always stay honest.

Also the guy that got the $3,500 in his account got it in 3 days.


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## mbd (Aug 27, 2018)

OldBay said:


> Now I know it's social engineering.
> 
> We haven't even got the first and they're talking about a second.


1200$ in NY is like 500$ in most cities.


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## munlochi (Jan 18, 2017)

Legalizeit0 said:


> " Does more than 1/3 of your income derive from legal gambling activities?"
> 
> poker players need not apply.


2% of poker players make money. And even if they did make more they know how to hide it as its a cash business or online a bitcoin business now.


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## Legalizeit0 (Jul 26, 2017)

munlochi said:


> 2% of poker players make money. And even if they did make more they know how to hide it as its a cash business or online a bitcoin business now.


It's interesting with how you come up with that 2% figure. My group of friends that play seriously are all profitable players. I don't think your 2% figure is correct. And you can't hide tournament winnings when you get 1099 - G from the casino, which everyone on the circuit does.
Sadly, they don't pay in bitcoin either.


----------



## munlochi (Jan 18, 2017)

NISSA4152 said:


> I agree with this comment I think from what I read that if you're not approved for the loan and there is a place that you check for the for the $10,000 advance. So if you don't get approved for the SBA loan that you would $10,000 Grant. But I was reading and one person received the grant and only got $3,500. Also with that being a grant I believe you're still eligible to apply for the unemployment in your state. As my understanding grants are not considered wages. But always stay honest.
> 
> Also the guy that got the $3,500 in his account got it in 3 days.


The guy that got the grant is full of sh&t. They haven't paid out a single dollar in advance money yet. Secondly there is no way to get $3,500. The system is 1k per employee up to 10k.

It is a loan. The upfront money is a grant. What you are applying for is a loan. Economic Injury Disaster LOAN. It's in the name. The advance is put in place to help those manage while they wait for the loan paperwork to go through which with about 3 millions applications so far is 28-35 days start to finish.

If people have higher interest loans/CC or even moderate interest ones you want that loan as well. It's 3.75% with no payments for the first 12 months. You don't have to take it but its a really good loan.

The grant money is finite. It's a first in-first out system. There is no point in applying now if you are only in it for the grant. There are 3 million applications out there. The first day there were 400k. The fund for the advance is $10 billion dollars. That's a million businesses if everyone got the 10k.



Legalizeit0 said:


> It's interesting with how you come up with that 2% figure. My group of friends that play seriously are all profitable players. I don't think your 2% figure is correct. And you can't hide tournament winnings when you get 1099 - G from the casino, which everyone on the circuit does.
> Sadly, they don't pay in bitcoin either.


The 2% is accurate. Your friends might be profitable players but that money comes from somewhere and the math shows that about 2% are winning players. You can hide tournament winnings or bad beat jackpots pretty easy if you know what you are doing. Lets put it this. way if you or your friends are part of the 2% you're smart enough to figure out how to offset it properly on a tax form.


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## UberBastid (Oct 1, 2016)

Juggalo9er said:


> Did you even read the interest rates?
> Didn't see a single post saying they got the money


Last I heard it was going to be 'somewhat less than 1%'.
Said by some smart and important person during one of Trumps updates.

Heard on the news that some funding has already been disbursed.
I don't know of anyone who's gotten $.


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## Juggalo9er (Dec 7, 2017)

UberBastid said:


> Last I heard it was going to be 'somewhat less than 1%'.
> Said by some smart and important person during one of Trumps updates.
> 
> Heard on the news that some funding has already been disbursed.
> I don't know of anyone who's gotten $.


I don't believe you will on this board... unless it's sometimes cousin


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## UberBastid (Oct 1, 2016)

Juggalo9er said:


> I don't believe you will on this board... unless it's sometimes cousin


You may be right.
The SBE programs appear to be geared toward bigger small businesses than what you guys run.

Translate: Little guy gets screwed; again.
That $1200 you'll get (someday) is just the lube.


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## Juggalo9er (Dec 7, 2017)

UberBastid said:


> You may be right.
> The SBE programs appear to be geared toward bigger small businesses than what you guys run.
> 
> Translate: Little guy gets screwed; again.
> That $1200 you'll get (someday) is just the lube.


Deposits start this week


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## Mkubmi (Apr 4, 2020)

NISSA4152 said:


> I agree with this comment I think from what I read that if you're not approved for the loan and there is a place that you check for the for the $10,000 advance. So if you don't get approved for the SBA loan that you would $10,000 Grant. But I was reading and one person received the grant and only got $3,500. Also with that being a grant I believe you're still eligible to apply for the unemployment in your state. As my understanding grants are not considered wages. But always stay honest.
> 
> Also the guy that got the $3,500 in his account got it in 3 days.


Who received the 3500? Was he a driver?


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## munlochi (Jan 18, 2017)

Theyre talking right now Trump, Mnuchin, SBA director, Ivanka, Ludlow and the banks on a teleconference. Nothing on EDIL. We're a lost cause. I'm giving up.

On a related note. They are hiring at the SBA for virtual (at home) work 39 to 59k depending on experience.


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## GIGorJOB (Feb 29, 2020)

Anyone know or have any sense if you could apply for more than one EIDL if you have more than one impacted business?

Assuming the are totally different unrelated industries.


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## houstonubermom (Feb 14, 2018)

GammaRayBurst said:


> EMERGENCY THREAD YOU CAN GET 10000 DOLLARS POSSIBLY? INWAS TOLD TO APPLY FOR A DISEASTER LOAN AS INDEPENDENT CONTRACTOR ? LOOK IT UP!!! DONT QUOTE ME INSIGNED UP IF I GP TO JAIL BUT ACCOORDING TO ALOT PF WEBSITES UBER DRIVERSS LYFT DRIVERS CA?GET PAID 10000 EVEN IF LOAN IS DENIED!!!! NOT SPAM LOOK IT UP!! i dont wanna get banned or anything but according to this link you can apply as an independent contractor which you are you can get 10K??
> 
> __
> https://www.reddit.com/r/uberdrivers/comments/frgsm3
> ...


.

I also applied for it. I should be getting an answer next week. This loan can be utilized by Uber drivers. You don't have to pay it back as long as it is used according to the rules and guidelines. Go to the website and read it. It's a short form in which you will need some tax information, the year, month, and date you started. Good luck to everyone.


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## GammaRayBurst (Jan 20, 2018)

Update on Friday I was told to apply for loan and I was denied I keep the 10K.


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## houstonubermom (Feb 14, 2018)

GammaRayBurst said:


> Update on Friday I was told to apply for loan and I was denied I keep the 10K.


Can you elaborate more? How were you denied and still received the money?


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## GammaRayBurst (Jan 20, 2018)

houstonubermom said:


> Can you elaborate more? How were you denied and still received the money?


Told me I was an uber driver got denied real quick at wells fargo lmfao my fico is 480.


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## houstonubermom (Feb 14, 2018)

GammaRayBurst said:


> Told me I was an uber driver got denied real quick at wells fargo lmfao my fico is 480.


Ok. So you applied through your bank?



GammaRayBurst said:


> Told me I was an uber driver got denied real quick at wells fargo lmfao my fico is 480.


I replied through SBA website.


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## GammaRayBurst (Jan 20, 2018)

houstonubermom said:


> Ok. So you applied through your bank?
> 
> 
> I replied through SBA website.


Denied but get to keep so for security I bought a new transmission transmission engine mounts replaced most suspension parts bought 4 new tires roters and break pads for my uber car had new transmission installed from Toyota and for security I replaced alternator battery full pump incase they look into why I got 10k instead of 1k I did put 1 person when I applied but practically my car is new again... I have enough to get a new engine might do that to I have 155k but now it's newish again lol replaced all fluids new coal thing and new hoses also replaced radaitor also replaced cat I replaced all sensors to and bought new sensors throttle body this thing is now running like its new


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## Tony73 (Oct 12, 2016)

By the time my UI check comes in it will be May already 😔 debating wether waiting until June to drive again.


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## houstonubermom (Feb 14, 2018)

My question is did they deny you then still deposited the money into your account or did you have to do something else to get the money?


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## Oscar Levant (Aug 15, 2014)

GammaRayBurst said:


> EMERGENCY THREAD YOU CAN GET 10000 DOLLARS POSSIBLY? INWAS TOLD TO APPLY FOR A DISEASTER LOAN AS INDEPENDENT CONTRACTOR ? LOOK IT UP!!! DONT QUOTE ME INSIGNED UP IF I GP TO JAIL BUT ACCOORDING TO ALOT PF WEBSITES UBER DRIVERSS LYFT DRIVERS CA?GET PAID 10000 EVEN IF LOAN IS DENIED!!!! NOT SPAM LOOK IT UP!! i dont wanna get banned or anything but according to this link you can apply as an independent contractor which you are you can get 10K??
> 
> __
> https://www.reddit.com/r/uberdrivers/comments/frgsm3
> ...


No bank is going to give a rideshare driver $10k, that's nuts. But, if you pull it off, let us know. Loans have to be paid back.



UberBastid said:


> COME ON.
> That's not true.
> Have you been to the website?
> 
> ...


SBA loans are tough to get. But, in the Covid era, who knows? Why do you want to take on this debt, anyway? You'll just have to pay it back, and if you don't, your credit will be tanked.


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## Jake Air (Mar 31, 2018)

Oscar Levant said:


> SBA loans are tough to get. But, in the Covid era, who knows? Why do you want to take on this debt, anyway? You'll just have to pay it back, and if you don't, your credit will be tanked.


Speaking of your credit....I've been hearing comments like you have nothing to lose applying for the EIDL. Keep in mind this will count as a hard inquiry against your credit, which can in and of itself [whether you are approved or not] automatically lower your credit score depending on how many hard inquiries are currently on your credit report.

Let's just for argument's sake say ride share drivers qualify for this loan; applicants will be judged on their credit history and ability to repay the loan. Small businesses are subject to a 3.75% interest rate, according to a Money magazine article.
https://money.com/eidl-coronavirus-small-business/


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## Juggalo9er (Dec 7, 2017)

GammaRayBurst said:


> Told me I was an uber driver got denied real quick at wells fargo lmfao my fico is 480.


Please let me help you fix your credit



Jake Air said:


> Speaking of your credit....I've been hearing comments like you have nothing to lose applying for the EIDL. Keep in mind this will count as a hard inquiry against your credit, which can in and of itself [whether you are approved or not] automatically lower your credit score depending on how many hard inquiries are currently on your credit report.
> 
> Let's just for argument's sake say ride share drivers qualify for this loan; applicants will be judged on their credit history and ability to repay the loan. Small businesses are subject to a 3.75% interest rate, according to a Money magazine article.
> https://money.com/eidl-coronavirus-small-business/


2 to 3 points.... inquiries mean nothing


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## got a p (Jan 27, 2018)

ok i'm thinking about possibly applying as the unemployment dept has their head up their asses. as far as i can tell this is for self employed, which is us, and it pays $1k per employee up to 10 - is that correct? this is a really weird loan, what is that about if you get rejected you get $10k for free? if this is legit, and legal for me to apply i think i may.


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## Jake Air (Mar 31, 2018)

Juggalo9er said:


> Please let me help you fix your credit
> 
> 
> 2 to 3 points.... inquiries mean nothing


That just isn't true for everyone. I have no idea where you came up with that.
Read bullet point number three.
https://www.equifax.com/personal/ed...will-checking-your-credit-hurt-credit-scores/


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## MajorBummer (Aug 10, 2019)

munlochi said:


> Theyre talking right now Trump, Mnuchin, SBA director, Ivanka, Ludlow and the banks on a teleconference. Nothing on EDIL. We're a lost cause. I'm giving up.
> 
> On a related note. They are hiring at the SBA for virtual (at home) work 39 to 59k depending on experience.


OMG!!!! all is lost now,the 5 stooges are talking.


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## JustTreatMeFair (Nov 28, 2017)

Juggalo9er said:


> 2 to 3 points.... inquiries mean nothing


I single inquiry can mean very little but can be a tipping point resulting in a denial. 2-3 inquiries can add up to taking a 20-30 point hit for a few months.

Christmas happens the same time every year. A person applying for 2 or 3 major dept store credit cards right before the holidays is financially unprepared and possibly desperate to pay for things they never planned for.

An inquiry at a Goodyear or Firestone or some other auto repair store right before an inquiry at a car dealership combined with having an existing auto loan can be seen as a potential vehicle issue going unresolved that may become a bad account as a result of not being able to fix the car

Underwriters look at things in a variety of ways.


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## Juggalo9er (Dec 7, 2017)

JustTreatMeFair said:


> I single inquiry can mean very little but can be a tipping point resulting in a denial. 2-3 inquiries can add up to taking a 20-30 point hit for a few months.
> 
> Christmas happens the same time every year. A person applying for 2 or 3 major dept store credit cards right before the holidays is financially unprepared and possibly desperate to pay for things they never planned for.
> 
> ...


If anyone is getting denied for inquiries, there are other problems with their report.... inquiries are never the actual reason for denial


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## Fusion_LUser (Jan 3, 2020)

This came in today for the EIDL...


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## Iann (Oct 17, 2017)

Fusion_LUser said:


> This came in today for the EIDL...
> 
> View attachment 447364


I got the same thing. Was about to post it as well.


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## munlochi (Jan 18, 2017)

Check your bank accounts if you got that email today....enjoy


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## argyowl (Dec 17, 2016)

I received that e-mail. So us IC's are only eligible for 1,000? Is this direct from SBA?


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## JustTreatMeFair (Nov 28, 2017)

argyowl said:


> I received that e-mail. So us IC's are only eligible for 1,000? Is this direct from SBA?


The SBA does not itself make the loan or pay you the advance.

You are *entitled* to borrow as much as you are qualified to borrow. The loan process can take between 1 and 30 days depending on your credit and how readily you have documentation the lender requires you to submit. The SBA sets the guidelines under-which they will guarantee the loan and possibly "forgive" some amount in the future based on your ability to prove what monies were spent on.

In applying for the loan you can request an advance. The amount of the advance is determined by the number of employees you have. The advance you might receive will be $1000 per employee. Employees are those people that you pay and with hold taxes from that you report on Forms 940, 941 and 944. Paying others and not withholding makes them IC's and they are entitled to apply themselves.

Any monies you receive as an advance or over the course of the loan will come from the lender.

The lender makes a small fee paid by the SBA for administering the loan plus collects the interest you are paying. Because of the small interest rate lenders will package these and sell them most likely in bundles in the same manner they do other Government guaranteed loan products.


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## NOXDriver (Aug 12, 2018)

Bottom line: HAS ANYONE GOTTEN ANY MONEY?


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## TonyStewart (Apr 4, 2020)

NOXDriver said:


> Bottom line: HAS ANYONE GOTTEN ANY MONEY?


I saw one guy get $2000. He had two employees good luck


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## munlochi (Jan 18, 2017)

JustTreatMeFair said:


> The SBA does not itself make the loan or pay you the advance.
> 
> You are *entitled* to borrow as much as you are qualified to borrow. The loan process can take between 1 and 30 days depending on your credit and how readily you have documentation the lender requires you to submit. The SBA sets the guidelines under-which they will guarantee the loan and possibly "forgive" some amount in the future based on your ability to prove what monies were spent on.
> 
> ...


That's not true. My two direct deposits say SBA/Treasury Misc Payment

You are talking about PPP loan, this isn't that. The EDIL is a grant on the front end and a non forgivable loan afterwards. If you don't take the loan you keep the grant. There is no lender with the EDIL as you are applying directly to SBA. The PPP you have to go in and give them your paperwork at an approved SBA lender.



NOXDriver said:


> Bottom line: HAS ANYONE GOTTEN ANY MONEY?


Applied 3/29. 3300023000 (gig work), 3300025000 (business). The SBA pulled my credit on Sunday night (yes easter). Monday got e-mail that a lot of people got about the EDIL and the PPP as an alternative. Tuesday 3am, two deposits came in each on separate accounts: business and personal. 1k each


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## Chungyi (Jan 3, 2020)

Anyone else apply for PPP in addition to this?


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## Iann (Oct 17, 2017)

I did.

I google searched this site a few days ago. 
I had to look through quite a few to get one that would accept me.

Here's a screenshot of what it looks like. Just go through the list to see if you can find a open one. 








https://www.zenefits.com/workest/the-list-of-ppp-application-status-among-the-top-100-sba-lenders/


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## MajorBummer (Aug 10, 2019)

No 10 k for uber drivers,nada,squat,nothing.

No PPP LOAN either,75% of that loan must be spent on employees payroll


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## Chungyi (Jan 3, 2020)

would not paying ourself qualify as payroll? I almost submit the application but then this payroll thing come to my mind. Don't know how to provide payroll proof later lol


MajorBummer said:


> No 10 k for uber drivers,nada,squat,nothing.
> 
> No PPP LOAN either,75% of that loan must be spent on employees payroll


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## sellkatsell44 (Oct 25, 2015)

GammaRayBurst said:


> View attachment 442715





B - uberlyftdriver said:


> PHOTOSHOP


could be, posted date of 4/4 which is a Saturday 
and transactions aren't posted on weekends.

don't believe me? Not the PS expert but everyone else, look at your account history.


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## touberornottouber (Aug 12, 2016)

https://www.sba.gov/document/policy...y-criteria-requirements-certain-pledges-loans


> i. Step 1: Find your 2019 IRS Form 1040 Schedule C line 31 net profit amount (if
> you have not yet filed a 2019 return, fill it out and compute the value). If this
> amount is over $100,000, reduce it to $100,000. If this amount is zero or less,
> you are not eligible for a PPP loan.


So basically if you used the standard mileage deduction and have $0 income because of it, you aren't eligible.


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## Djfourmoney (Dec 22, 2014)

Jake Air said:


> That just isn't true for everyone. I have no idea where you came up with that.
> Read bullet point number three.
> https://www.equifax.com/personal/ed...will-checking-your-credit-hurt-credit-scores/


 It's only true if -

A bunch of inq bump you out of 580 which means you'll get higher interest rates on your car loan and get denied credit.

Bumps you from 670 down to 665 which again might bump you out of Tier 1 rates and put you in Tier 2. Though given the current crisis, captive lenders are still doing 0% up to 84 months, even with Tier 2.

It's all relative, I've built my credit back from the dead to 700+, it's not hard or complicated. You credit profile can be dramatically different in six months.

All creditors are interested in is FICO scores, inq's only matter with a mortgage in which case you should refrain from apply for credit for a year before apply for a home loan.


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## sellkatsell44 (Oct 25, 2015)

sellkatsell44 said:


> could be, posted date of 4/4 which is a Saturday
> and transactions aren't posted on weekends.
> 
> don't believe me? Not the PS expert but everyone else, look at your account history.


Not to mention that other small business having trouble thanks to banks processing bigger companies first like Ruth Chris and shake shack.

OP can work as a 1099 as photoshop pro.

just gotta refine details like not have items post on a weekday when banks never post items on weekdays.


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## Juggalo9er (Dec 7, 2017)

Djfourmoney said:


> It's only true if -
> 
> A bunch of inq bump you out of 580 which means you'll get higher interest rates on your car loan and get denied credit.
> 
> ...


False in every sense of the word.....
I have 42 yes 42 credit cards which I use to maximize cash back... when I obtained my home loan I had 37 inquiries... they were never mentioned more than can you explain these.... my explanation...I was building credit


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## Chungyi (Jan 3, 2020)

Applied 4/1. Have 3 employees for my shop. Got $3k deposited today to my bank. So I guess the fund is separated from PPP? Thought money dried out


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