View Single Post
Old 04-11-2020, 07:51 AM
  #11  
tprice
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Oct 2002
Location: anderson, sc
Posts: 19,406
Received 1,468 Likes on 850 Posts
Default

Originally Posted by crazybeard View Post
let's clarify this some.

it is an advance for the EIDL loan of "up to" 10k which whatever amount they advance you won't have to repay, even if you don't qualify for the loan.

so what we don't yet know is:
- when the hell anyone will get it because it was supposed to be in 3 days but hasn't been
- how much you will get
- this is per taxable entity aka EIN/ TIN so some people may qualify multiple times
- what requirements need to be met later on to qualify for non repayment/grant status, if any. Some possible Ex: you actually have to apply with an SBA lender and accept a loan if offered, or complete an application which is SBA reviewed by a certain date.

I admit I don't know many details, but it seems nobody does yet. So just be aware it may not be be $10k and who knows what devils are in the details.

Agreed

Not a lot of detailed information

My issues with applying for EIDL right now is we technically have not lost any revenue to this point Long term renters been in since Oct and leaving end of April, possibly could stay through May (told agent whatever they would pay to take it basically )


With that said I see only 1 week booked in summer and quite honestly that is when we normally collect 90% of rents (this winter has been a lifesaver so far).

So I can not in good faith say we have lost any revenue as of today but I am sure by summers end that will be much different Not sure if I have to wait until later on to complete the app and submitted it and do not want to collect something we are not entitled to