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Thread: Is the US giving away 10K to every business?

  1. #1
    Master of Props Daly's Avatar
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    Is the US giving away 10K to every business?

    Had a business associate call me earlier and walk me through a 10K grant that it would appear any semi-qualifying business can get.

    https://www.sbc.senate.gov/public/_c...act-final-.pdf

    So as part of the CARES act any business with 500 or less employees “small business” can apply for a loan AKA “the payroll protection program”. Get out a calculator find out how much you pay people over 2 months times 2.5 = how much you can apply for. Pay most of that to your employees and you get loan forgiveness...... but none of this really matters for most people but ....part of the program there is the....

    Economic Injury Disaster Loans & Emergency Economic Injury Grants
    These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). To access the advance, you first apply for an EIDL and then request the advance. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.

    So put in a loan application for a business that qualifies for the loan, put in a application for the speedy EIDL&EEI Grant - which is suposedly funded in 3 business days..... and you don’t have to pay it back?

    Anyone with experiance with this?

  2. #2
    Owner Dan Druff's Avatar
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    Thanks for this.

    Finally PFA won't run at a loss!

  3. #3
    Diamond Tellafriend's Avatar
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    Yes. That’s just the tip of the iceberg w all the handouts. I’m actually going to get my fair share.

  4. #4
    Diamond
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    What a coincidence. BOTH My mother AND I were going to start our own businesses.

    Guess ill have to fill one out for her as well.

  5. #5
    Diamond TheXFactor's Avatar
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    Should cover self-employed and contractors.

    Do you really need an EIN federal tax ID to apply?

    Does it cover new businesses that I incorporate right now and setup with a EIN and bank account?


  6. #6
    Gold SPIT this's Avatar
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    Shocker that the two Russians on this site are hastily setting up fake businesses right now to defraud the government

  7. #7
    Diamond Tellafriend's Avatar
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    Quote Originally Posted by OSA View Post
    What a coincidence. BOTH My mother AND I were going to start our own businesses.

    Guess ill have to fill one out for her as well.
    Quote Originally Posted by TheXFactor View Post
    Should cover self-employed and contractors.

    Do you really need an EIN federal tax ID to apply?

    Does it cover new businesses that I incorporate right now and setup with a EIN and bank account?


    Not Going to work. Have to have payroll from 2019.

     
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      SPIT this: let them find out on their own

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