Small business owners, gather ’round. Let’s talk about the burning question that’s been keeping you up at night: “Can I just poof make my EIDL loan disappear?” Spoiler alert: EIDL loans aren’t like your ex’s empty promises—they actually have to be repaid. But don’t hit the panic button yet; there’s a method to this madness, and we’ve got a game plan for you.
First, let’s get real: EIDL loans are not like PPP loans. They’re more like the friend who helps you out in a pinch but expects you to pay them back—low-interest disaster loans designed to be repaid over time. Forgiveness? Not currently in the cards. But before you grab the Advil and start crunching numbers, know this: there are options to make repayment less overwhelming.
If your business is feeling the squeeze, the SBA’s Hardship Accommodation Plan could be your saving grace. Picture this: six months of reduced payments at just 10% of your usual monthly bill (as low as $25!). Sure, interest keeps ticking away like a metronome, but you’ll have some breathing room to get back on your feet. Need to apply? We’ve got step-by-step instructions to make it as painless as possible.
But wait—there’s more! At Calculated Moves, we’re not just about making life easier (although we do that really well). We’re also about creating change. That’s why we’re launching a campaign in January to push for forgiveness of EIDL loans under $1 million. We’re equipping business owners like you with cut-and-paste advocacy tools to make your voice heard. Together, we’ll show the powers-that-be why these loans need a fresh perspective.
While EIDL forgiveness isn’t here yet, strategic planning and advocacy can make a world of difference. Need help navigating the SBA maze or joining the fight? That’s where Calculated Moves comes in. Because you’ve got better things to do than stress over spreadsheets—like growing your business or maybe just taking a breather.
Check out the full article to learn how to tackle your EIDL loan like the boss you are. And remember: keep making those calculated moves.
Want a CPA team that makes your financial headaches disappear faster than your Monday motivation? Let’s chat.
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Donna Bordeaux, CPA with Calculated Moves
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA, as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.