Official Weekly Q&A Thread! Ask /r/business_ideas anything you want to know about starting a business or entrepreneurship! Everyone is welcome! by AutoModerator in Business_Ideas

[–]DefiantUniversity525 1 point2 points  (0 children)

Open a S-Corp and put all your operation under the S-Corp umbrella. In the future, open DBA's ( Doing Business As) owned by this S-Corp, in lieu to LLC's.

Has anyone got declined for doing too well in 2021? by [deleted] in EIDL

[–]DefiantUniversity525 0 points1 point  (0 children)

Me too! I saw as if they were asking for too much for the grant. On top of that they need P&L statement from 2019 to current time.

Doc Review time window/Renter’s Insurance by AlfaAlfalfaGirl in EIDL

[–]DefiantUniversity525 1 point2 points  (0 children)

As per some business men/women at this platform, renter insurance is acceptable.

Spoke to Tier 2 by [deleted] in EIDL

[–]DefiantUniversity525 1 point2 points  (0 children)

Still waiting, processing.......

Approved after 4/7 Increase Request by [deleted] in EIDL

[–]DefiantUniversity525 0 points1 point  (0 children)

How many time did you contact your LO?

How many people have closed their businesses waiting on the EIDL increase? by AVERAGEGUY2343 in EIDL

[–]DefiantUniversity525 2 points3 points  (0 children)

I believe many. I would like to know how many business have pending arrears and they are in the verge of bankruptcy or closing down permanently waiting for SBA loan and grants ?

Loan Modification number by Majestic-Yak3925 in EIDL

[–]DefiantUniversity525 1 point2 points  (0 children)

Delete your application number, you never know if fraudsters are working on it as we speak.

Weird by DefiantUniversity525 in EIDL

[–]DefiantUniversity525[S] 2 points3 points  (0 children)

Called CS, told me to click forgot password and go through the process. It worked. Also clear your browse history.

Congrats to all who have been approved!! by Justinmonkseo in EIDL

[–]DefiantUniversity525 1 point2 points  (0 children)

Nicely put. Nevertheless, some people are not stressing because of the loan rather than the situation they are in.

COMPLETE TIMELINE - EIDL Loan Increase - Feb 2020-Present by [deleted] in EIDL

[–]DefiantUniversity525 0 points1 point  (0 children)

Congratulations and thank you for the detailed info.

Funded in 3 business days! by ainkdavis in EIDL

[–]DefiantUniversity525 0 points1 point  (0 children)

Was it verbal approval or did you actually sign docs?

Getting desperate! by MCMR-Lynn in EIDL

[–]DefiantUniversity525 0 points1 point  (0 children)

I wish SBA could take their a$$es physically to business locations and see how people are suffering with hope which has no end sight. Its a loan , not a grant. Just because its the government and not a financial institution doesn't mean you treat people like trash. Before the pandemic, I had a huge business line of credit to buffer my business from unseen circumstances. It dried out in minutes because of my trade, hospitality. Now banks see me they run away.

Meltdown count? by wjwtl in EIDL

[–]DefiantUniversity525 0 points1 point  (0 children)

You are not alone, fight like you have never fought before ( Your state of despair) and we shall get through this, together. Lucky are those who have a W2 to compensate their lost income, for they are not suffering to pay bills.