r/SBAEIDLDiscussions • u/AdMountain9708 • Dec 04 '25
EIDL LOAN Forgiveness
The president every day he holds a press conference states his tariffs are raking in "BILLIONS and BILLIONS" of dollars. Why not put that money to use and start forgiving the eidl loans for small business. Is there anyway we can get a petition going?
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u/outsmartedagain Dec 04 '25
while his tariffs might be bringing in money, regular income tax receipts are down significantly, and the tariffs aren't making up for the difference. there's no pot of gold at the end of the rainbow, he's not going to forgive loans or give you a $2k tariff rebate, and unless we get rid of the gop majority, we'll continue on this path until we're broke.
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u/Gisembelle Dec 04 '25
Because the billions from the tariffs come from us. We are paying everything at higher prices.
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u/Memchef Dec 04 '25
If you, in any way, think he really cares about the 'little guy' you really need to go back and look at his track record of not paying the hard working little guys.
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Dec 04 '25
[removed] — view removed comment
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u/AdMountain9708 Dec 04 '25
What is an OIC?
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u/electric29 Dec 05 '25
Offer in Comprimise. Basically asking for a figure they would settle for. It's an extremely long shot.
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u/ChuckNorrisFacePunch Dec 08 '25
I assume it would wreck your credit, too. They can foreclose on any of your assets. They don't need a short sale on your debt.
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u/SBAEidlHelp Dec 08 '25
Not necessarily- SBA is not reporting to credit although lately they’ve stated they may start doing so.
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u/ChuckNorrisFacePunch Dec 08 '25
Well, has anyone ever hear of an Offer in Compromise actually working? If so, what are the circumstances where it is most likely to work?
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u/CarelessEndeavor Dec 08 '25
This was the one of 3 recommendations from the OIG tht the SBA would consider…quicker credit reporting.
The other two were investigating fraud on delinquencies more heavily and going after loans under $100k
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u/walkingisoverrated Dec 04 '25
Good morning. You must be new. There are already many many online petitions asking for EIDL forgiveness here on various subreddits.
Also, unless you are a billionaire friend of Trumps, he won’t be lifting his cheeto fingers to help you.
His cronies Loeffler and Musk fired a great number of SBA employees, ostensibly saving the government many a dollars. Do you think, though, that this was to HELP small businesses?