OFFICIAL 2020 STIMULUS CHECK THREAD

Yea that rate of 3.75% kinda scandalous, especially with likely economic downturn coming.

Sub 2% you still probably leverage the **** out that ***** but close to 4% kinda wild.

Loan might be just the push some businesses need to stay afloat though.
 
Did my application 2 weeks ago. Still waiting for mine. They did send an email about retiring more information and I did that. Is that normal?
 
geno90221 said:
So u paying back $27K?
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Hella Strong said:
Yea that rate of 3.75% kinda scandalous, especially with likely economic downturn coming.

Sub 2% you still probably leverage the **** out that ***** but close to 4% kinda wild.

Loan might be just the push some businesses need to stay afloat though.
Click to expand...

3.75% loan from the government is a steal for me. Try to get a personal loan and tell me how high 3.75% for a loan.
- Stimulus is still ongoing, who is to say the loan is forgiven, tax deduction, credit?
-Give me $ now, and I'll beat 3.75%/year, with investments
- Inflation will go up. Average is a bit >2%. We are literally printing $ and giving it out for free. Check this thread for more information
-75$/month doesn't hurt me at all and I have 16k now I'll be using indirectly to purchase a house, that I believe will go up >3.75%/yr (it's in the Bay area)

I tell my friends to get into Real estate, and they talk about how they don't want to be in debt or afraid of big monthly payment or interest rates.

Scared $ don't make $
 
1593583056760.png


🤔🤔🤔

Might be light at the end of the tunnel for my fellow box uncheckers
 
cedric ceballos said:
I put my brother who does web designs and a friend of mine that does photography onto this. They each got their 1k today. They had no clue about this until I told them.

Now they’re showing their appreciation by promising me I don’t gotta pay a penny for drinks when I’m back in LA in a few weeks. I can dig that.
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Damn, I didn't even think of this. I said I have 1 employee tho. But I wish I had sent bread to my people's too. Didn't realize I could. Would've loved to do that.
 
pdino said:
3.75% loan from the government is a steal for me. Try to get a personal loan and tell me how high 3.75% for a loan.
- Stimulus is still ongoing, who is to say the loan is forgiven, tax deduction, credit?
-Give me $ now, and I'll beat 3.75%/year, with investments
- Inflation will go up. Average is a bit >2%. We are literally printing $ and giving it out for free. Check this thread for more information
-75$/month doesn't hurt me at all and I have 16k now I'll be using indirectly to purchase a house, that I believe will go up >3.75%/yr (it's in the Bay area)

I tell my friends to get into Real estate, and they talk about how they don't want to be in debt or afraid of big monthly payment or interest rates.

Scared $ don't make $
Click to expand...

I can't speak to your situation, I was speaking in general.

They gave out half a trillion in PPP money, most of it swooped on by large scale commercial business, at a rate that's at most 0.98% and broadly advertised loan forgiveness.

For them to turn around and give out 95 billion in EIDL money, with loans capped at 150K i.e. they're truly lending to true small businesses this time at around, but to then charge 3.75% almost seems predatory.

A small business with tight margins might actually need the full term of the loan to pay it back, and it will cost them way more than 50% of the principal amount of the loan. You might want to eat that finance charge but it's not a good look for a lot of businesses just trying to make it through this.
 
Hella Strong said:
I can't speak to your situation, I was speaking in general.

They gave out half a trillion in PPP money, most of it swooped on by large scale commercial business, at a rate that's at most 0.98% and broadly advertised loan forgiveness.

For them to turn around and give out 95 billion in EIDL money, with loans capped at 150K i.e. they're truly lending to true small businesses this time at around, but to then charge 3.75% almost seems predatory.

A small business with tight margins might actually need the full term of the loan to pay it back, and it will cost them way more than 50% of the principal amount of the loan. You might want to eat that finance charge but it's not a good look for a lot of businesses just trying to make it through this.
Click to expand...

I am truly a small business., and I will be using the funds as intended in the contract. You make it seem as if I'm gaming the system or something. I am exactly who they intended this program for and I will be using it exactly how they want me to use the $.
 
pdino said:
I am truly a small business., and I will be using the funds as intended in the contract. You make it seem as if I'm gaming the system or something. I am exactly who they intended this program for and I will be using it exactly how they want me to use the $.
Click to expand...

No, I am not. Idk if you meant to quote someone else or something because this response doesn't make sense given what I wrote.
 
kingfoamnyc said:
1593583056760.png


🤔🤔🤔

Might be light at the end of the tunnel for my fellow box uncheckers
Click to expand...

Got that same email yesterday. Set up the account to see the loan amount but didn't see a way to turn it down. Just didn't proceed with the loan because clearly I don't want it.
 
We still looking at about a 2 day turnaround from the time you apply to the time you actually received the funds?
 
Applied for EIDL loan on 6/20, got the $1k grant on 6/23, and got declined on the loan 7/1. No hard credit pull for me. I used sneaker sales on stockx from last year to apply so my gross/costs were only a few thousand which I believe is why. Doesn’t matter I just wanted the advance anyways.
 
Gill Baka Esq. LLC. said:
Did my application 2 weeks ago. Still waiting for mine. They did send an email about retiring more information and I did that. Is that normal?
Click to expand...
It seems like all the people who got asked for more information, or to update information getting froze out of the advance grant.
 
Gill Baka Esq. LLC. said:
Did my application 2 weeks ago. Still waiting for mine. They did send an email about retiring more information and I did that. Is that normal?
Click to expand...

Got an email needing more info something my bank not accepting the deposit or account/routing number was weong, did it once I sent it got the 1k like next day. .

Also just got an email asking for more info to get the loan. I really might need the loan right now I'm probably gonna need a new car, after my wreck, and not sure I can get financed except at a buy here pay here 18 - 23% interest with little to no income to prove. Deciding if I should pursue it, I obviously wouldn't take 30 years to pay it back if I get it though.
 
barrebaby said:
Got an email needing more info something my bank not accepting the deposit or account/routing number was weong, did it once I sent it got the 1k like next day. .

Also just got an email asking for more info to get the loan. I really might need the loan right now I'm probably gonna need a new car, after my wreck, and not sure I can get financed except at a buy here pay here 18 - 23% interest with little to no income to prove. Deciding if I should pursue it, I obviously wouldn't take 30 years to pay it back if I get it though.
Click to expand...
That loan scary as ****. You give them access to your finances and if you can't prove that the business is legitimate enough to their standards **** could get messy
 
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