Did anyone apply for that 10K grant under the SBA Economic Injury Disaster Loan program??

meilmarc

Rising Star
BGOL Investor
Congrats bro! Hope I'm next. I read one of the new stipulations is having a 50% reduction in business. I'm at the mid 40's%.
Did you have a 50% reduction?

When everything shut down in march of 2020 my side hustle income dropped 75%. It didn't start to pick up until around August of 2020.
 

meilmarc

Rising Star
BGOL Investor

Gov't: Would you like more money that you don't have to pay back? Yes or No? :roflmao:



:roflmao2:

Sad thing is i tried to put a few folks on it last year when the covid relief package hit and they was too lazy to read or fill out the app. A chick I date got the money and chunked me 1k just for putting her on game.

Im just waiting on my 5k approval, I hope the govt gives out more free money.
 

bubba2k5

Rising Star
BGOL Investor
:roflmao2:

Sad thing is i tried to put a few folks on it last year when the covid relief package hit and they was too lazy to read or fill out the app. A chick I date got the money and chunked me 1k just for putting her on game.

Im just waiting on my 5k approval, I hope the govt gives out more free money.
Same here. Had my mother open an LLC a couple of years ago to invest in real estate with me. She qualified for this and PPP, but didn't want to apply because she "doesn't trust the government, nothing is free". Just can't help some people.
 

TENT

Rising Star
BGOL Investor
I want to add that there is an ADDITIONAL 5K EIDL Grant available to everyone who got the original 10K Grant.

If you did not receive your invitation email, please email the SBA and ask them for "the additional 5k EIDL Grant based on section 332 of the Cares Act"

They will send you an email with the link to apply.

You click "Submit" then another email will be sent and you click "submit" and then they deposit the funds.


There is money out there bros!

Go get it!
 

MistaPhantastic

Rising Star
Platinum Member
Got the invitation only to be turned down because of my location. Yes, you heard me right.
My neighborhood "was not poor enough." :rolleyes2:
Fuck 'em. I've gotten everything I have in life on my own. I will continue to do so.
 

TENT

Rising Star
BGOL Investor
Send an email/or call them to protest. I know a chick who didn't get the balance of the 10k but then got the 5k.

Got the invitation only to be turned down because of my location. Yes, you heard me right.
My neighborhood "was not poor enough." :rolleyes2:
Fuck 'em. I've gotten everything I have in life on my own. I will continue to do so.
 

CybaCipha

Rising Star
Platinum Member

Politic Negro

Rising Star
BGOL Investor
You guys probably covered this but it's a loan. A small amount may be a grant but for the most part it's a loan.

For those of you who did get round one. Did they ask you for paperwork yet? I wasn't sure if it was a scam or not.
For the expired PPP Loan you had to show proof where the money is going after you received it. There are two side to the EIDL. One is the actual loan(pay it back in 30 years 3.75%) The other is a grant. In both cases to the EIDL, you had to prove you were hurt up front by the COVID shutdown and you can do whatever you want with the money.

The grant part to the EDIL you never have to pay it back. They make it very clear.
 

CybaCipha

Rising Star
Platinum Member
For the expired PPP Loan you had to show proof where the money is going after you received it. There are two side to the EIDL. One is the actual loan(pay it back in 30 years 3.75%) The other is a grant. In both cases to the EIDL, you had to prove you were hurt up front by the COVID shutdown and you can do whatever you want with the money.

The grant part to the EDIL you never have to pay it back. They make it very clear.
I never showed any proof or anything up front. I did what was required up front. .... bank account info, proof of business. Now they are asking me for meeting minutes, board of director shit, etc I can't remember.
 

Politic Negro

Rising Star
BGOL Investor
I never showed any proof or anything up front. I did what was required up front. .... bank account info, proof of business. Now they are asking me for meeting minutes, board of director shit, etc I can't remember.
waitaminute. How much did you ask for?
 

CybaCipha

Rising Star
Platinum Member
waitaminute. How much did you ask for?

image.jpg






j/k it was less than 10k
 

CybaCipha

Rising Star
Platinum Member
waitaminute. How much did you ask for?

Here is what they sent me:
***
Per your EIDL Authorization and Agreement on page 4 and 7 , please provide the following document(s) as notated in the attachment to this email.
To assist you with this request, please call MONEY BAGZ at 1 (800) 555-5355 Ext 55355. If you are unable to reach me on the first call, please try again shortly thereafter. Please have application number (located in the subject line of this email) or loan number available before replying. My office hours are Monday through Saturday 7am-6pm EST. Thank you.

PLEASE PRESS REPLY, ATTACH THE DOCUMENTS AND SEND TO THIS EMAIL ADDRESS
***
 

BigDaddyBuk

still not dizzy.
Platinum Member
Man I know folks who have got that 21k twice, with no business on site and they giving the Mask man a run around.
Dude they made me apply 3 times, increased my loan amount twice, then denied me pending subsequent paper work.

Im watching people with not nary NAN business get approved and funds dispersed while i got ALL the receipts.

:hmm:
 

Chuck_Luck

Rising Star
Platinum Member
This whole PPP was a sham. Alot of ppl running scams made off good. Meanwhile ppl I know who actually had businesses got nothing.
 

Mask

"OneOfTheBest"
Platinum Member
This whole PPP was a sham. Alot of ppl running scams made off good. Meanwhile ppl I know who actually had businesses got nothing.

i am him... that you speak of whom got nothing...


I recently heard of my little cuz received $140k from PPP...
She can’t be no more than 23.
Months back she showed a house she purchased and a Range Rover was parked outside. It was nice, our conversation was like “She might be dealing with a ball player or someone(we know her dealings) to be doing it like that”. Now she did say in the caption of the post, “I did this all by myself”

Then months later that is when, they saw her name on the PPP list.

now I could find out all her business since she’s closeclose family, but I don’t be in folks business like that.
The info I shared is/was info,that was floating around. Part of the reason My peeps called to share was, he know I’m not on social media. Also, giving props because we always talk about the youth doing big things.
 

neptunes007

Rising Star
BGOL Investor
Just got approved for my $9K!!!

Turns out if you don't meet a certain amount of Gross Revenue then you will only be approved the grant and not the full advance. They were looking at my Gross Revenue on my Schedule C and not W-2's. They thought I did not report all my income and initially denied for more than 25% variance of what was reported on my 1099 Revenue and what I reported to the SBA back in March of 2020. I'm a freelance contractor so sometimes I get 1099 and W-2s depending upon how some companies run payroll. So if your freelance like me and have been denied based on more than 25% variance make sure the SBA loan specialist is looking at both revenues from 1099s and your W-2s bc that is your total gross revenue.
 

head214

Rising Star
BGOL Investor
Just got approved for my $9K!!!

Turns out if you don't meet a certain amount of Gross Revenue then you will only be approved the grant and not the full advance. They were looking at my Gross Revenue on my Schedule C and not W-2's. They thought I did not report all my income and initially denied for more than 25% variance of what was reported on my 1099 Revenue and what I reported to the SBA back in March of 2020. I'm a freelance contractor so sometimes I get 1099 and W-2s depending upon how some companies run payroll. So if your freelance like me and have been denied based on more than 25% variance make sure the SBA loan specialist is looking at both revenues from 1099s and your W-2s bc that is your total gross revenue.
Congratulations. Hope that leads to success in your business ventures.
 
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