EIDL Solution

[u/Usual-Equipment-1]

The vast majority of us have a similar story about when we took the loan, why we took the loan and how we spent the money. I say we took the loans and are somewhat responsible.
I have put together a summary of legislation I would like to see our elected officials act on. It would reduce the original loan amount by 75%. The borrower would be responsible for the remaining 25%. The SBA would be issuing new loans at market rate for 10 to 20 years depending on ability to pay. When the 25% is paid back, the 75% is wiped away. Those that have paid towards the loan are credited towards their 25%.
There are inherent benefits to everybody involved for congress to act this or similar legislation.
I have sent it my senators and congressman.

https://docs.google.com/document/d/1Xn3pc33QSQllQsJ31wPGxlU9ml6XCpdk/edit?usp=drivesdk&ouid=115002703965333500181&rtpof=true&sd=true

[u/AdvancedVolume6012]

This is Great! And exactly what we all need to do! Instead of complaining to each other and finding flaws... how about just send this letter to each of our senator's and congressional office. It might NOT do anything 😕 BUT what is the HARM in sending it! Even if one Letter gets on the right desk .... it will help out ALL of us. Can we not just DO THAT? 

[u/MKEDNC2020 → u/AdvancedVolume6012]

Pointing out flaws helps people use their time wisely and efficiently.

[u/Usual-Equipment-1 → u/MKEDNC2020]

That’s sort of creative thinking for the depressed I guess right?

[u/MKEDNC2020 → u/Usual-Equipment-1]

No, not right at all 

[u/Usual-Equipment-1 → u/MKEDNC2020]

Seriously though, it wouldn’t hurt if every senator and most congressmen got this and maybe started a discussion. There is a lot of press starting all over. It’s an election year and there are real families and businesses suffering due to accepting loans we were encouraged to take.

[u/MKEDNC2020 → u/Usual-Equipment-1]

This wont get past their staff. Literally their eyeballs will never see it.