DAMMNNNN! My buddy just got a $500k EIDL loan! PPP ain't shit!
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Call me when he gets his Eidl forgiven ;-)
Right, it never does? You do get a $10k grant though right? His argument was $500k at 3.5% and 30 years is pretty nice.
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Grant (as I read it) is only a grant if you get denied. It also gets deducted from your PPP loan amount if you did that. Lastly, they changed the rules so it's 10k or 1k per employee only. So not exactly awesome.
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He got a $7k grant, not the $10k he was expecting.
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Has he signed the loan docs or received it? I got approved for 280k a couple of days ago and accepted it but still waiting for loan docs so I'm curious about the process? I've heard that the original amount approved for gets reduced sometimes.
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I believe he's signed the docs but he has not gotten the money yet. He might be waiting on SBA.
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