Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 563189 times)

Online Ver hut gazugt

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Jan 2021
  • Posts: 629
  • Total likes: 621
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: New york
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4960 on: July 12, 2022, 04:21:38 PM »
NYS grant is being held up because article of incorporation and other documents show my old address.
What the best/simplest way to show proof?


Offline bubkiz

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Dec 2010
  • Posts: 732
  • Total likes: 53
  • DansDeals.com Hat Tips 0
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4961 on: August 30, 2022, 01:25:16 PM »
@cgr
Has there been any changes with regard to calculating the ERTC in the Inflation Reduction Act?

Offline cgr

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Aug 2017
  • Posts: 4420
  • Total likes: 1362
  • DansDeals.com Hat Tips 7
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4962 on: August 30, 2022, 02:36:19 PM »
@cgr
Has there been any changes with regard to calculating the ERTC in the Inflation Reduction Act?
No.

Offline cgr

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Aug 2017
  • Posts: 4420
  • Total likes: 1362
  • DansDeals.com Hat Tips 7
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4963 on: August 31, 2022, 10:19:27 AM »
Borrowers who received an EIDL loan in March 2020 will need to start making payments in September, as the 30-month deferment is coming to a close. The due date is based on the original note, and not on subsequent increases.

Offline cgr

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Aug 2017
  • Posts: 4420
  • Total likes: 1362
  • DansDeals.com Hat Tips 7
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4964 on: December 05, 2022, 01:39:13 PM »
The SBA is now offering six month Hardship Accommodation Plans to borrowers who are struggling to make their EIDL monthly payments. The plan reduces the monthly payment to 10% of the original (interest accrues).
https://www.sba.gov/funding-programs/loans/covid-19-relief-options/covid-19-economic-injury-disaster-loan/manage-your-eidl#section-header-7

Offline Am

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Nov 2011
  • Posts: 1002
  • Total likes: 14
  • DansDeals.com Hat Tips 2
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4965 on: February 02, 2023, 03:49:07 PM »
The SBA is now offering six month Hardship Accommodation Plans to borrowers who are struggling to make their EIDL monthly payments. The plan reduces the monthly payment to 10% of the original (interest accrues).
https://www.sba.gov/funding-programs/loans/covid-19-relief-options/covid-19-economic-injury-disaster-loan/manage-your-eidl#section-header-7
I was also told that borrowers can reapply every six months for the hardship accommodation until the SBA decides to stop allowing.

Online yelped

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2015
  • Posts: 11398
  • Total likes: 4159
  • DansDeals.com Hat Tips 43
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4966 on: May 22, 2024, 12:18:08 PM »
Does anyone know about the SBA loans as they are today? Asking for a FM who needs a loan for his small business. Does anyone have any recommendations for an honest broker and any pointers to know/look out for?

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 30K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 31161
  • Total likes: 8075
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4967 on: May 22, 2024, 12:21:59 PM »
Does anyone know about the SBA loans as they are today? Asking for a FM who needs a loan for his small business. Does anyone have any recommendations for an honest broker and any pointers to know/look out for?

https://sbaloangroup.com/

Frum guys, I have no experience or affiliation with them.

DDF FFB (Forum From Birth)

Online yelped

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2015
  • Posts: 11398
  • Total likes: 4159
  • DansDeals.com Hat Tips 43
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4968 on: May 22, 2024, 12:46:04 PM »
https://sbaloangroup.com/

Frum guys, I have no experience or affiliation with them.
Thanks. Do you know anything about them?

Online Ver hut gazugt

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Jan 2021
  • Posts: 629
  • Total likes: 621
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: New york
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4969 on: May 22, 2024, 12:48:19 PM »
Does anyone know about the SBA loans as they are today? Asking for a FM who needs a loan for his small business. Does anyone have any recommendations for an honest broker and any pointers to know/look out for?
sba is only good for specific types of loans ( I.e real estate etc.. ). Depending on what they need they might be better off going with a business line of credit or business loan. Also, American Express started doing business loans as well, I forgot the name.

Offline Essen est zich

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Apr 2017
  • Posts: 2197
  • Total likes: 737
  • DansDeals.com Hat Tips 31
    • View Profile
  • Programs: Nichoach Vol 2
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4970 on: May 22, 2024, 12:48:53 PM »
Thanks. Do you know anything about them?

As AsherO said, I have no experience or affiliation with them. But I know he gives lots of tzedaka and gives back to the community. He is also active on linked and may have a podcast.
Shloffen Shloft Zich

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Feb 2012
  • Posts: 885
  • Total likes: 160
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4971 on: May 22, 2024, 12:49:57 PM »
Does anyone know about the SBA loans as they are today? Asking for a FM who needs a loan for his small business. Does anyone have any recommendations for an honest broker and any pointers to know/look out for?
https://freedombm.com/
Frum guys. No experience or affiliation with them.
(I see them posting on Linkedin all the time)


Online yelped

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2015
  • Posts: 11398
  • Total likes: 4159
  • DansDeals.com Hat Tips 43
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4972 on: May 22, 2024, 02:00:38 PM »
sba is only good for specific types of loans ( I.e real estate etc.. ). Depending on what they need they might be better off going with a business line of credit or business loan. Also, American Express started doing business loans as well, I forgot the name.
Don't SBA loans have much lower rates? This would be to purchase inventory.

Online Ver hut gazugt

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Jan 2021
  • Posts: 629
  • Total likes: 621
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: New york
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4973 on: May 22, 2024, 02:24:02 PM »
Don't SBA loans have much lower rates? This would be to purchase inventory.
depends ( companies mentioned here charge a fee on top of the banks and sba fees) there was a while back some promotions for sba loans( no sba fee) not sure if it still going. Itís worth taking a little time to reach out and see what is best in your situation.

Price is only one part of the loan. Other things you would want to look out for is length of time to pay back the loan. How much money that loan type is willing to lend. How hard is it to get that loan and how long is the process.

Online aygart

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2008
  • Posts: 18911
  • Total likes: 14982
  • DansDeals.com Hat Tips 14
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4974 on: May 22, 2024, 02:57:08 PM »
depends ( companies mentioned here charge a fee on top of the banks and sba fees) there was a while back some promotions for sba loans( no sba fee) not sure if it still going. Itís worth taking a little time to reach out and see what is best in your situation.

Price is only one part of the loan. Other things you would want to look out for is length of time to pay back the loan. How much money that loan type is willing to lend. How hard is it to get that loan and how long is the process.

Why would someone use them instead of going straight to the SBA lender?
Feelings don't care about your facts

Online Ver hut gazugt

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Jan 2021
  • Posts: 629
  • Total likes: 621
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: New york
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4975 on: May 22, 2024, 02:59:15 PM »
Why would someone use them instead of going straight to the SBA lender?
to help them get approved. Similar to a mortgage broker.

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Feb 2012
  • Posts: 885
  • Total likes: 160
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4976 on: May 22, 2024, 03:17:39 PM »
Why would someone use them instead of going straight to the SBA lender?
There are thousands of lenders. Different lenders have different requirements.
Additionally, some favor/dislike specific industries over others etc.

Based on the brokers experience, they will submit your loan to lender which has the greatest chance of approval for your type of loan.
They will also make sure your application submission has everything needed the first time around, in order to prevent a denial for something insignificant.

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 30K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 31161
  • Total likes: 8075
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4977 on: May 22, 2024, 05:34:49 PM »
Thanks. Do you know anything about them?

Nothing more than you can find on the internet.
DDF FFB (Forum From Birth)

Offline Yef

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Aug 2017
  • Posts: 394
  • Total likes: 89
  • DansDeals.com Hat Tips 0
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4978 on: May 22, 2024, 06:59:47 PM »
Since this thread is open again..
Anyone know anything about these companies advertising for deferral of loan payments, lowering payments, etc for the eidl loans?

Online ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 17927
  • Total likes: 8148
  • DansDeals.com Hat Tips 19
    • View Profile
  • Location: 770
  • Programs: בשורת הגאולה. From Exile to Redemption. GIYF. AAdvantage Executive Platinumģ
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4979 on: May 22, 2024, 08:56:34 PM »
Since this thread is open again..
Anyone know anything about these companies advertising for deferral of loan payments, lowering payments, etc for the eidl loans?

Some things are almost automatic on SBA borrower portal. Reducing my minimum monthly payment to 10% of regular payment for 6 months at the low interest rate of the EIDL loan is a no brainer.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan