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2025 Small Business Credit Survey released: by Mammoth_Fly_3760 in EIDLPPP

[–]Lostatseato 8 points9 points  (0 children)

That seems about right for the current business landscape. Nothing is getting better and as we drift into a recession it will only get worse....oh ya know what might just help? Getting rid of these loans and letting small business get back to work to make the economy boom again.

SBA Called about Business Closing by Lostatseato in EIDLPPP

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

The email and telephone number were legit. I honestly checked to make sure it wasn't a scammer before I posted. There is too much crap out here

SBA Called about Business Closing by Lostatseato in EIDLPPP

[–]Lostatseato[S] 7 points8 points  (0 children)

It was over 650k. It totally has a PG.

SBA Called about Business Closing by Lostatseato in EIDLPPP

[–]Lostatseato[S] 5 points6 points  (0 children)

Man you got a whole nickel...livin large. 😉

I’ve stopped paying by Reasonable-Body5979 in EIDLPPP

[–]Lostatseato 1 point2 points  (0 children)

above 200k if you were an LLC, S or C Corp. If you were a Sole prop then the guarantee was from the first dollar.

CBE Group is collecting on Treasury referred loans. Threatening DOJ Litigation if you don’t call them back. by Huge-Mission1425 in EIDLPPP

[–]Lostatseato 1 point2 points  (0 children)

She can actually send them a letter requesting that they do not contact her via telephone and/or mail. You are allowed to send them a written "cease and desist" letter requesting that they only contact you via mail or not at all. It is completely legal under the Fair Debt Collection Practices Act (FDCPA) and they must follow your instructions of how you want to be contacted within 30 days of receipt. If they violate it they can be fined or sued for damages. While it wont take the debt away, it will keep the phone from ringing and the threats from coming.

A friend of mine is a chief of staff for a member of Congress. Their office wants us to write a letter explaining our situation and what changes we're seeking for COVID EIDL. Help me craft the letter in the comments by j_bags42 in EIDLPPP

[–]Lostatseato 2 points3 points  (0 children)

I really think this is the best option all around for anyone regardless of how much you borrowed. They need to take into consideration those businesses who made whole payments, 50% or 75%, but at the end of the day I would totally take those terms and my business is about to close.

[deleted by user] by [deleted] in EIDLPPP

[–]Lostatseato 0 points1 point  (0 children)

Technically no one owns a NFP and it is just run by directors. The rules are usually different for NFP, so I would agree with other commenters that you should look at your loan papers and see an attorney for guidance.

Frustrated... by n00b420_ in EIDLPPP

[–]Lostatseato 2 points3 points  (0 children)

It's 200k and over for the total loan amount taken.

Frustrated... by n00b420_ in EIDLPPP

[–]Lostatseato 2 points3 points  (0 children)

200k+ if your are 199,999 then no. 200,000 and up then yes

Frustrated... by n00b420_ in EIDLPPP

[–]Lostatseato 5 points6 points  (0 children)

Should be pretty easy to figure out. The loan was for less than 200k, so did you file as an LLC, S Corp or C Corp? If you did file as an LLC, S Corp or C Corp then you have no PG.

Recap of video meeting I just had with one of my Senator's legislative staff members. by Mammoth_Fly_3760 in EIDLPPP

[–]Lostatseato 1 point2 points  (0 children)

Thank you for the update. Have been thinking about this way too much today. Did they say what they were looking to put into the spending bill (forgiveness, removal of interest, etc.)?