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re: EIDL Loan Repayment / Forgiveness
Posted on 5/24/23 at 4:16 pm to Bazzatcha
Posted on 5/24/23 at 4:16 pm to Bazzatcha
I’ve been paying and will continue despite the fact I don’t operate out of that 1099 any more.
I am doubtful they will announce anything official but there is enough language from Congressmen and auditing branches that make it pretty clear their intent isn’t to collect (turn over to Treasury) loans under $100k.
With some people paying, doubtful they will officially forgive.
Tbh, I was extremely surprised when they approved it (then doubled it) with no personal guarantee on just an individual 1099.
They have likely close to $150 billion in non guaranteed loans.
I am doubtful they will announce anything official but there is enough language from Congressmen and auditing branches that make it pretty clear their intent isn’t to collect (turn over to Treasury) loans under $100k.
With some people paying, doubtful they will officially forgive.
Tbh, I was extremely surprised when they approved it (then doubled it) with no personal guarantee on just an individual 1099.
They have likely close to $150 billion in non guaranteed loans.
2
Posted on 5/24/23 at 9:35 pm to RealDawg
quote:
I am doubtful they will announce anything official but there is enough language from Congressmen and auditing branches that make it pretty clear their intent isn’t to collect (turn over to Treasury) loans under $100k.
link??
Posted on 5/24/23 at 10:44 pm to RealDawg
Would be curious as to why they would chose to forgive up to $100k, if they are actually looking to forgive some loans, when at some point in the process they capped the EIDL at $150k. We qualified for a lot more, but during the process they capped it, then when they reopened being able to go up to $1M or $1.5M; they decided they won't increase our amount because they questioned our ability to repay.
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