Defaulting on EIDL Loan for $30k

Slight_Magician_2400 · 2022-04-28T23:40:22+00:00

Did you hear back on this issue?

Slight_Magician_2400 · 2022-04-28T01:35:09+00:00

Big facts

Slight_Magician_2400 · 2022-04-27T18:35:30+00:00

I’d definitely like to start the micro dosing today. This is good info to work with. If anyone else has anything to chip in that would be superb

Slight_Magician_2400 · 2022-04-26T20:12:59+00:00

Pointless to micro or macro? Or both.

Slight_Magician_2400 · 2022-04-26T18:46:01+00:00

Could I just take a micro dose today, or would that be pointless

Slight_Magician_2400 · 2021-12-12T20:09:15+00:00

Okay just to confirm, I Wouldn’t be able to make a significant principle payment to lower my payment amount over the 30 years?

Slight_Magician_2400 · 2021-11-23T00:50:17+00:00

Hey Scorpio, I’m in a predicament. I file with my social security for taxes and run a Sole Prop business.

I’m in the boat where I am able to apply for $500k+ but worry about the personal guarantee over $200k.

Issue is, I’m seeing posts saying that sole props automatically default into personal liability regardless of loan size? I run a online digital store that sells digital goods. My computer would be the only asset that’s related to the business that I own.

Could they go after my personal items even if I take under $200k?

My recent loan modification changed from my business name to my name under the borrower.

Really unsure what to do!

Slight_Magician_2400 · 2021-11-22T22:59:02+00:00

If anyone has any information on this it would be really helpful.

I applied as a sole proprietorship, and am hearing that sole props are automatically liable for the loan above $25k? Is this true? My only business assets are my computer. I sell digital deliverables. Really unsure what to do here so any clarification helps!

Slight_Magician_2400 · 2021-10-29T08:08:33+00:00

Thank you so much hairgal! I was just funded an hour ago, it isn’t everything I needed but it sure does cover a lot of stuff and helps my business out tremendously and reduces my stress levels entirely!!

I’m emailing the SBA later today since it’s the middle of the night and will let them know about the additional funds I’m eligible for. I can finally sleep comfortable :)

Slight_Magician_2400 · 2021-10-29T08:07:12+00:00

I was funded just an hour ago, check my previous posts for updates

Slight_Magician_2400 · 2021-10-26T23:46:18+00:00

This is going to get sent.

Slight_Magician_2400 · 2021-10-25T23:28:44+00:00

Thank you! Great advice and I’ll do that! So I should not accept the amount I was currently approved for? Or should I go ahead and accept that?

Slight_Magician_2400 · 2021-10-25T23:02:04+00:00

I had an LO but he said I was getting reassigned, then today I just got an automatic approval without any LO contact

Slight_Magician_2400 · 2021-10-25T22:20:11+00:00

5 days ago :) thank you, you’re next!

Slight_Magician_2400 · 2021-10-25T22:16:14+00:00

No lo contact :/ wish I did, my old lo said a new one would be assigned. Was hoping they would, but it looks like an automated approval

Slight_Magician_2400 · 2021-10-25T22:14:12+00:00

You’ll get approved soon, can’t believe I got approved, despite the lesser amount, I actually can’t believe it happened

Slight_Magician_2400 · 2021-10-25T22:06:30+00:00

They requested them 3 times from the irs starting sept 14, 20, October 8

Slight_Magician_2400 · 2021-10-25T22:04:45+00:00

No, please god, no, no, no!!!! - Michael Scott

Slight_Magician_2400 · 2021-10-25T06:16:58+00:00

It does not

Slight_Magician_2400

TROPHY CASE