Politicians Narratives DON'T Fly | 13 EIDL Debates Thanks to Inc.com
Published 2024-06-07
00:00 Introduction and Coining a New Phrase
00:11 Dissecting the Inc. com Article
00:54 Shoutouts and Subscriber Milestone
01:51 COVID-19 EIDL Program Overview
03:52 SBA's Systemic Failures and Collection Issues
05:03 Debate about Business Owner Responsibility
07:20 Understanding Loan Defaults
13:37 Political Pressure and an underfunded SBA
16:01 Default Rate Estimates and Portfolio Sale
18:40 Understanding ROI and Loan Collections
19:08 Hardship Accommodation Program Explained
20:06 Unique Borrower Situations and SBA Policies
21:33 SBA's New Servicing Center in Fort Worth
23:28 Repayment Statistics and Misleading Numbers
24:22 EIDL Loan Forgiveness Myths
26:09 Proactive Steps for EIDL Borrowers
29:50 Congressional Involvement and SBA Funding
**** House Committee On Small Business
2361 RAYBURN HOUSE OFFICE BUILDING (RHOB), WASHINGTON, D.C. 20515
PHONE(202) 225-5821
****United States Senate Committee on Small Business & Entrepreneurship
428A Russell Senate Office Bldg, Washington, D.C. 20510-6350
📌 The content in any of Aurora Consulting's YouTube videos or this website shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other & may be outdated or inaccurate; it is your responsibility to verify all information.
💥 ⓌⒽⓄ ⓌⒺ ⒶⓇⒺ
During the pandemic, we assisted Small Businesses to obtain $100M in pandemic funding, primarily through SBA's COVID-19 EIDL program.
We provided hundreds of hours of free advice including free consulting calls and live YouTube Q&A sessions. We did our part to support the American Small Business community.
𝑾𝒆 𝒏𝒐𝒘 𝒑𝒓𝒐𝒗𝒊𝒅𝒆 𝒔𝒖𝒑𝒑𝒐𝒓𝒕 𝒊𝒏 𝒕𝒘𝒐 𝒘𝒂𝒚𝒔:
Our expert guidebook "The SBA COVID-19 EIDL Guide" answers ALL your questions about the COVID-19 program from responsibilities to restrictions, from "Change of Ownership" to "Closing Your Business" to "Hardship Accommodation" and "US Treasury Default" and much, much more. You can purchase your copy of our guidebook here: www.auroraconsulting.biz/eidl-blueprint-series/
Natural Disaster Loan Application consulting. As per SBA guidelines, we charge a flat fee to prepare forms and supporting documents for a SBA natural disaster loan application or to respond to a declined/withdrawn loan application to help the Small Business Owner obtain the approval for which they are entitled. You can request our assistance by filling out a short information form by CLICKING HERE. www.auroraconsulting.biz/disaster-financing-consul…
We ask that you respect our expertise and especially respect the time we have already contributed with our free videos, consultations and question and answer sessions during the pandemic. We are a Small Business just like you and we're working diligently to make a living just like you.
💥 𝒪𝒰ℛ ℬ𝒜𝒞𝒦𝒢ℛ𝒪𝒰𝒩𝒟𝒮
Trevor retired from Mortgage Banking in 2018. He brought the standards he developed in his mortgage financing career along with his customer service background with the once famous "Crazy Eddie" retail chain to assist business owners and entrepreneurs manage the day-to-day doldrums when it came to securing business financing before & during COVID.
In 2017, Linda Rey exited the insurance business and with Trevor, we launched Aurora Consulting, a Commercial Financing Brokerage to help entrepreneurs expand their enterprise with unique, cost-effective business financing solutions.
When the pandemic hit, the business shut down as Lenders scrambled with the Paycheck Protection Program (PPP). As true entrepreneurs do, Linda Rey and Trevor pivoted and sought to help business owners learn the fundamentals of business financing and how to apply for the SBA’s Economic Injury Disaster Loan (EIDL).
They had enough experience with applying for a business loan, so their knowledge helped enlighten business owners navigating the very confusing EIDL process.
Aurora Consulting developed a national reputation assisting business owners nationwide and helped secure over $70 million (that we know of) in disaster funding for small business owners.
#Incdotcom #IncArticle #SBACOVID19EIDLPortfolio #INeedHelpwithEIDL #EIDLDefault #COVID19EIDL #EIDLUSTreasury #USTreasury #USTreasuryDispute #USTreasuryCollection #EIDLCollection #IRSCollections #DefaultedEIDL #EIDLExperts #EIDLConsultants #SBANaturalDisasterLoan #NaturalDisasterLoan #NaturalDisasterEIDL #MySBAportal #HardshipAccommodation #EIDLHardship #EIDLBankruptcy #SmallBusinessBankruptcy
All Comments (7)
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Love your show, Congrats!! I took a EIDL loan for 500k in 2021 and they never placed a lein on my house. I've checked thoroughly, does this mean I could sell my house without them having any involvement? Was I supposed to file lein because it says " the borrower was responsible for recording the real estate lein and paying fees, neither of which I did. Here's the full paragraph on the sba website under the loan details- For loans greater than $500,000 where real estate was pledged as collateral: One-time $100 fee for filing a lien on borrower's business assets. Additionally, the borrower was responsible for recording the real estate lien and paying the associated
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I used the guide book. In the portal it said, “charged off” and I called Treasury and the loan was there, according to the operator. Applied for hardship and Now it says “Disbursed Current.” Does that mean it is no longer at Treasury and back with the SBA?
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EIDL options with Personal Guarentee, vs LLC vs under 175,000 all different types of loans. Loan agreement writing is not trueful. If they can go beyond the written contract to collect makes the EIDL a deal with the devil. Wish I had found you gues before my LLC got under $175K loan.
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what about putting an unspent eidl in a high yield savings account ?
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First Oh yeah Word!
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Hello.I took a loan of less than 200 thousand. I was in a car accident 3 years ago, my health condition I cannot work. Please provide advice. Thanks you very much I have medical reports proving my deteriorating health.
