OFFICIAL 2020 STIMULUS CHECK THREAD

Anyone get the loan yet or decline to take the loan ?

Saw a video on YouTube
They offer you an amount and you can either borrow the full amount or less
If it’s under $25k no collateral is needed
I assume most folks aren’t accepting the loan and just taking the free $1k
 
What’s the apr on the loan ?

0.98% for PPP and 3.75% for EIDL. PPP is forgivable under the specified circumstances.

How about the actual loan? Or no one gives a **** about that? :lol:

i opted out of it? Lol

for me it showed an option to uncheck the 10k loan?

That's not how it works. You can't opt out of the EIDL loan on the application.

You will get $1K in grant money per employee deposited in your account a few days after applying for the loan. If you're an independent contractor or a sole proprietorship with no employees, you get $1K.

After your application has been processed and reviewed, your application will either be denied or you will be offered a loan.

If you're offered a loan, you'll be presented with a loan agreement that you can either accept or deny.

They can't force you to agree to the loan terms, but you also can't opt out of the process.
 
0.98% for PPP and 3.75% for EIDL. PPP is forgivable under the specified circumstances.







That's not how it works. You can't opt out of the EIDL loan on the application.

You will get $1K in grant money per employee deposited in your account a few days after applying for the loan. If you're an independent contractor or a sole proprietorship with no employees, you get $1K.

After your application has been processed and reviewed, your application will either be denied or you will be offered a loan.

If you're offered a loan, you'll be presented with a loan agreement that you can either accept or deny.

They can't force you to agree to the loan terms, but you also can't opt out of the process.
 
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You accepted the loan right you had a option to decline it right

so looking into it I believe I got the grant . I have 7 employees so that 1k per an employee adds up .For the loan I requested something small (10k) since I can pay that off under a month . Ill keep the thread updated if i get anything else. Also Hennessy , Lowe’s and PayPal are giving grants to black owned biz as well.
 
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