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re: Who has received their $10,000 EIDL advance grant?
Posted on 4/5/20 at 9:22 am to Neil Caffrey
Posted on 4/5/20 at 9:22 am to Neil Caffrey
quote:
Having a hard time finding out what she would qualify for based on her unique situation.
Does she have profits in her future? Sounds like she could be deemed a hobby if she doesn’t have something to show future income potential. Why is she at a net loss? Is she over paying herself? What’s her profit before taking distributions? Or are you saying she isn’t paying herself at all.
Eta: if she isn’t paying herself at all and taking losses, I don’t see how she qualifies for anything but maybe the EIDL. But I’d plan on it being a low interest loan. Hard to argue she lost income when she doesn’t have any.
This post was edited on 4/5/20 at 9:24 am
2
Posted on 4/5/20 at 9:39 am to baldona
Recommend checking your statuses today. I checked my status today and told me to as of 05 APR to reapply for the third time.
Reapplied and it again asked me if I wanted the 10k grant.
At the end it said processing time would take a week.
I initially applied for the EIDL back on 22 MAR
I received an email to apply for advance and applied for it on 30 MAR
Reapplied and it again asked me if I wanted the 10k grant.
At the end it said processing time would take a week.
I initially applied for the EIDL back on 22 MAR
I received an email to apply for advance and applied for it on 30 MAR
Posted on 4/5/20 at 10:19 am to baldona
quote:
if she isn’t paying herself at all and taking losses, I don’t see how she qualifies for anything but maybe the EIDL. But I’d plan on it being a low interest loan. Hard to argue she lost income when she doesn’t have any
Thanks for the response.
She hasn't been paying herself. She's been putting all of the income that the business generates back into the business. Was looking to be profitable this year but now can't conduct business and make any income with the stay at home mandates.
I was thinking she might qualify for unemployment. Any thoughts on this?
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