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Message
re: EIDL Increase Email
Posted on 8/4/21 at 9:57 am to ithad2bme
Posted on 8/4/21 at 9:57 am to ithad2bme
Just be careful in case you ever get audited. The funds are not to be used for business expansion.
We dumped ours into a separate payroll account and we are using working capital outside of the EIDL money for growing the business. Just dotting i's and crossing t's.
Grats on funding. It's a great feeling to be through the process.
We dumped ours into a separate payroll account and we are using working capital outside of the EIDL money for growing the business. Just dotting i's and crossing t's.
Grats on funding. It's a great feeling to be through the process.
1
Posted on 8/4/21 at 1:15 pm to VABuckeye
quote:
Just be careful in case you ever get audited. The funds are not to be used for business expansion
Good advice, we actually plan to do the same thing you are doing with putting the money into a dedicated account to pay payroll out of.
We are developing a software application that streamlines our work and makes it more scalable, so most of the extra expenses are payroll anyway. The obvious benefit is that if it works for us, then it's a solution for others as well, and then we can market it.
Posted on 8/4/21 at 2:06 pm to ithad2bme
Grats on the business growth. It's a nice feeling to have after the end of 2019 and first 3 quarters of 202 for us.
Posted on 8/4/21 at 4:18 pm to VABuckeye
Thanks, we are a 100% remote digital marketing firm, so we grew in Q3 and Q4 of 2020 as folks needed online growth strategies. Then we fired our biggest client in January, so Q1 sucked, Q2 was better but not great, and Q3 is looking strong.
Posted on 8/4/21 at 4:43 pm to ithad2bme
Great news!
This post was edited on 8/4/21 at 4:44 pm
Posted on 8/16/21 at 10:26 am to ithad2bme
We received an email saying we were approved two weeks ago and signed all docs. Still no funding. Ugh, this is a frustrating process.
Posted on 8/16/21 at 10:48 am to LSUlove
At least it's all good news up to now. Hoping you fund this week. 
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