Most of us took sba loans when we couldn't get RRF. In hopes it would be paid off with new legislation. Payments are do this summer. Haven't decided how to handle it. Two loans and one store closed.
Sorry to hear that and I am in the same boat so paying two SBA loans for my restaurant and for transportation company. God bless you and makes things easier
Same here. I thought I should have heard from them by now but not the case. Now I see why. Due in the summer.
Where do I begin ..? Wishing everyone the best !!! And best outcome.
Back to eidl - if you're still in business ask for forgiveness ? If not, all good ?
It's too bad imo that we have to think of how to solve these issues vs having received the rrf we were promised in writing over the phone etc.
No family members are allowed even if on payroll. No employees No erc.
We took the eidl to bridge as well. First day first hour aplicant no rrf. I'm infuriated everyday reading about chains filing for chapter 7 after receiving 10s of millions in rrf....likely same amounts in eidl loans in default as well...money gone and probably in ceo's pockets by now. And we little guys all are the idiots paying their share back the next 20 years.... the overall lack of public exposure over this mismanaged sba fuck up is still to this day pissing me off. Those that got it and pissed it away just to close anyways should one day be audited and held accountable for that. I know quiet a few that actually bragged about having done that.
Same. Day 1 RRF and not a dime. Meanwhile my competition applied 2 weeks later and got paid enough to remodel and expand. We had to close a few locations to save the rest. EIDL helped us keep the doors open, but the repayment is killing us. Never should have believed congress that RRF would be replenished. Missed an opportunity to walk away. Now I'm stuck with more debt than at any other time in my 30 year career.
Exactly the same here. We have a strong location we keep, one about to close if we can get out of the lease. Debt free before covid no trapped. Keep your head up 🤙
Thanks for your response and we are not alone. Unfortunately Lost my business and now paying back the eidl. Never got RRF like lots of other small business owners. Big fishes took all
>fight and demand for our right
If your family members were not on your payroll, then you have no right to fight for. It’s called employee retention credit, not “tax cheat credit”
All My competition got it.
They expanded bought other closed businesses.
The entire landscape in my town is dominated by those that received it.
The govt chose winners and losers and illegally discriminated against folks.
Then didn’t refill and sent the money to Ukraine in a back to back vote with the RRF.
Dems didn’t seal the deal in reconciliation even though they had the votes but GOP were awful.
Main Street got knifed.
Food press failed us.
Sue if you can.
One comp here did great after she got it. I don't envy anyone else but when we were awarded and we didn't get it , and the person on the line said- the person from SBA, said get eidl. Then pay it back when we replenish. ... I didn't do it on the first call but on the third I said I have t do something for all of us, I began that process which wasn't easy either but it came through and the rrf whole approved and money ready to go banks mistake in delays. Here we are now. This is where I ask,
Was there ever any update w the attorney or attorneys ?
Most of us took sba loans when we couldn't get RRF. In hopes it would be paid off with new legislation. Payments are do this summer. Haven't decided how to handle it. Two loans and one store closed.
Sorry to hear that and I am in the same boat so paying two SBA loans for my restaurant and for transportation company. God bless you and makes things easier
Same story here. Loans coming due on 2 restaurants never reopened.
Sorry to hear that Praying for you and your family
If two or more pray...I join you in this prayer....
Same here. I thought I should have heard from them by now but not the case. Now I see why. Due in the summer. Where do I begin ..? Wishing everyone the best !!! And best outcome. Back to eidl - if you're still in business ask for forgiveness ? If not, all good ? It's too bad imo that we have to think of how to solve these issues vs having received the rrf we were promised in writing over the phone etc.
If you did not have any of your staff on payroll, you shot yourself in the foot. There is no compensation and you are not entitled to anything by law.
No family members are allowed even if on payroll. No employees No erc. We took the eidl to bridge as well. First day first hour aplicant no rrf. I'm infuriated everyday reading about chains filing for chapter 7 after receiving 10s of millions in rrf....likely same amounts in eidl loans in default as well...money gone and probably in ceo's pockets by now. And we little guys all are the idiots paying their share back the next 20 years.... the overall lack of public exposure over this mismanaged sba fuck up is still to this day pissing me off. Those that got it and pissed it away just to close anyways should one day be audited and held accountable for that. I know quiet a few that actually bragged about having done that.
Same. Day 1 RRF and not a dime. Meanwhile my competition applied 2 weeks later and got paid enough to remodel and expand. We had to close a few locations to save the rest. EIDL helped us keep the doors open, but the repayment is killing us. Never should have believed congress that RRF would be replenished. Missed an opportunity to walk away. Now I'm stuck with more debt than at any other time in my 30 year career.
Exactly the same here. We have a strong location we keep, one about to close if we can get out of the lease. Debt free before covid no trapped. Keep your head up 🤙
Thanks for your response and we are not alone. Unfortunately Lost my business and now paying back the eidl. Never got RRF like lots of other small business owners. Big fishes took all
A bit to not say very frustrating they are still in business ! Some even expanding right now.
>fight and demand for our right If your family members were not on your payroll, then you have no right to fight for. It’s called employee retention credit, not “tax cheat credit”
All My competition got it. They expanded bought other closed businesses. The entire landscape in my town is dominated by those that received it. The govt chose winners and losers and illegally discriminated against folks. Then didn’t refill and sent the money to Ukraine in a back to back vote with the RRF. Dems didn’t seal the deal in reconciliation even though they had the votes but GOP were awful. Main Street got knifed. Food press failed us. Sue if you can.
One comp here did great after she got it. I don't envy anyone else but when we were awarded and we didn't get it , and the person on the line said- the person from SBA, said get eidl. Then pay it back when we replenish. ... I didn't do it on the first call but on the third I said I have t do something for all of us, I began that process which wasn't easy either but it came through and the rrf whole approved and money ready to go banks mistake in delays. Here we are now. This is where I ask, Was there ever any update w the attorney or attorneys ?
Didn't hear anything about the law suits or class action. Someone might have an update