May 5th 2024 SBA EIDL Update: SBA pulling EIDL Loans less than 2 years past due back from Treasury. 

Good news, now if we can get SBA to accept OICs, everything would be the coolest.

Forgive the whole thing already,, most of borrowers won’t be able to pay back

Thanks Brother! I appreciate you staying on top of this stuff for everyone and have a great weekend . Another great video! You are the best!

Thanks for keeping us up-to-date!!

Wait, so how does this 2-year deferred referral to the Treasury work exactly? I'm in the middle of my 3rd hardship accommodation plan. If I stop paying because I can't afford it anymore, what are SBA's "early collection methods"? I don't have any collateral as a sole prop besides a used laptop and crappy desk. Are they going to try and take my home? I read SBA 7a loans that default, they won't take your home if the loan amount is at least 75% of your home's fair market value. I'm so confused right now. I'm cool with Treasury taking 15% of W2 income, IRS tax refunds and social security. I'm not cool with SBA taking my home/vehicle or a private collection agency hired by Treasury doing those things.

Will these loans be forgiven at some point? I'm just paying the minimum on mine at the moment. I did the hardship as well. trying to hold out for a loan forgiveness

Does this mean if I don’t pay my eidl loan starting today for two years it won’t get sent to treasury and just accrue interest?

Thank you for the update ❤

Called SBA they said they haven’t heard anything like that

Thank you for the update. Yes, another big joke, people can not pay and returned from treasury?

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I heard this message on Friday May 3. I've talked with both SBA and Treasury (amazingly got through at 7:30 am on the dot) neither agent had yet heard of this development. I too recorded the message. So happy to know I'm not crazy! The message appears to refer to all EIDL loans regardless of delinquency time, is this how you understand it?

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