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03-17-2022, 12:06 PM #1A forum user
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After almost 3 years of no payments and accruing interest, are merchants even going to be able to pay back EIDL?
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03-17-2022, 12:10 PM #2Senior Member
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Payments are pretty low....3.75% and 30 year amortization...$25,000 loan amount would be $116 a month....sure and add accrued interest to that...
Originally Posted by Sean Cash
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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03-17-2022, 12:11 PM #3Senior Member
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Who knows? I wonder what they are actually going to do when all the people who took under 200k inevitably default. I bet a large portion of them are already out of business. Originally Posted by Sean Cash
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03-17-2022, 08:05 PM #4Senior Member
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They are signature loans (if under $200,000) not personal guarantee...so probably won't do anything on defaults. Originally Posted by Oxforddan
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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