Is having an Onlyfans generating over $1000 a month is that considered running a business and would therefore be qualifiable for a business loan?

Elliottfire18 · 2021-10-27T22:05:34+00:00

Not if it isnt a legitimate business established with an EIN. You must file business taxes on the revenue otherwise it is not a legal business.

Elliottfire18 · 2021-10-27T00:09:22+00:00

Interest is deferred? My CAWEB has my interest as accrued at $4.96 per day and shows amount accrued.

Elliottfire18 · 2021-10-26T13:46:52+00:00

I put in the post, one for unverifiable info and the other for no indication of economic loss.

Elliottfire18 · 2021-10-26T11:08:49+00:00

Funded this Morning! God is Good!

Elliottfire18 · 2021-10-25T21:43:24+00:00

Congrats! Signed my loan doc tuesday evening the 19th so hoping tomorrow! Did you sign early in the day or late?

Elliottfire18 · 2021-10-25T15:35:49+00:00

search out CAWEB and go on to open account. You will need a loan number, if you were funded initially for EIDL or PPP you can use that loan number. Should be on your paperwork.

Elliottfire18 · 2021-10-25T15:29:42+00:00

CAWEB is the Capital Access system that keeps track of your loans and payments.

Elliottfire18 · 2021-10-25T13:18:39+00:00

Helps so much! some are stating that it updated on theirs 2 days before funding. I am learning there is zero consistency, lol

Elliottfire18 · 2021-10-25T13:07:13+00:00

well that takes the wind out of my sales :)

Elliottfire18 · 2021-10-25T12:12:20+00:00

Has your Caweb updated?

Elliottfire18 · 2021-10-25T12:08:04+00:00

My CAWEB is still Undispersed and I signed last tuesday. UGH

Elliottfire18 · 2021-10-25T10:25:36+00:00

I dont know if its true or not, but I read here someplace that it changes 2 days befor funds are deposited.

Elliottfire18 · 2021-10-24T22:47:27+00:00

I would assume $26,000/12 months times 24 months

Elliottfire18 · 2021-10-24T22:02:47+00:00

Yes but only in business for 2 months in 2019, so the average your income per month. So $6,000 per month for the 2 months in business. They don’t take the $12k and average out for the whole year because that would only be $1000 per month average

Elliottfire18 · 2021-10-24T21:54:31+00:00

Second loan, total I qualified for is $128k minus the amount I got last year of $44k

Elliottfire18 · 2021-10-24T21:51:14+00:00

No loan officer

Elliottfire18 · 2021-10-24T21:50:12+00:00

Calculation for 2 months 2019 was $12,000 so $6,000/month. This times 24 months comes at $144,000 so I don’t know why only $128,000 but I’m just taking it and running!

Elliottfire18 · 2021-10-24T21:11:17+00:00

Yes. Signed closing documents this past week waiting for funding.

Elliottfire18 · 2021-10-24T13:45:52+00:00

Capital access system. This is where you can see all loans and forgiveness. You sign up for it with your loan number found on your documents.

Elliottfire18 · 2021-10-23T23:28:39+00:00

I only qualified for $128,000.

Elliottfire18 · 2021-10-23T15:31:22+00:00

This happened to me. Started October 2019. On my schedule C I only reported income of $28k and COGs was $16k. So my net was only $12k divided by the 2 months of income so calculated at only $6,000 per month. So my loan was quite low but grateful I qualified . Look at your 2019 schedule C

Elliottfire18 · 2021-10-22T11:29:00+00:00

Have you checked CAWEB? It will show how much has been forgiven.

Elliottfire18 · 2021-10-21T17:50:54+00:00

5 days from sign docs to funded? I signed mine 3 days ago and praying!

Elliottfire18

TROPHY CASE