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Discussion The Covid Money

Discussion in 'General Chit-Chat' started by Jeremiah, Sep 15, 2020.

  1. Jeremiah

    Jeremiah Member

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    May 7, 2019
    Wisconsin
    A while back this site was hot on how to get your Covid money , forms to fill out to get thousands of dollars. How has that worked out for some of you ? Do you regret taking the money ? Have you been asked for repayment yet ?
     
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  2. Texas_Signmaker

    Texas_Signmaker Very Active Signmaker

    4,749
    1,750
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    Oct 21, 2016
    Frisco, TX
    Nope, don't regret it. Got the PPP and the rules changed so I don't have to document anything. Just filled out a simple form and all should be forgiven.
     
  3. Stacey K

    Stacey K I like making signs

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    Jun 20, 2018
    Wisconsin
    Who would regret it? You can pay it all back if you want as soon as the payments start. I took the PPP and applied for the SBA disaster loan but have a few snags. I put the wrong business name (DBA thing) on the checking info and it's turned into somewhat of a disaster.
     
  4. James Burke

    James Burke Being a grandpa is more fun than working

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    Jan 2, 2010
    Mitten State
    Did not take the bait.


    JB
     
  5. unclebun

    unclebun Very Active Member

    Took the PPP. All forgivable. They still haven't finalized the forgiveness application process though. Took a small EIDL. It's just a regular SBA loan. Payments deferred a year, 30 yr payback, 3% annual interest.
     
  6. binki

    binki Premium Subscriber

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    Jul 23, 2007
    The PRC
    We got the EIDL cash advance (forgiven) and and EIDL loan, payable starting after 12 months for 30 years. No payoff penalty, low interest rate. No regrets.
     
  7. WYLDGFI

    WYLDGFI Merchant Member

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    Oct 27, 2006
    Linden, NJ
    PPP here...no regrets. Got the info to my accountant and they're filling out the paperwork for forgiveness.
     
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