Hello business owners community. Have you noticed how many trolls are living in our subreddit? I keep whacking them (blocking) but they keep coming back. Here's the thing. Love you all and thank you for your support for me and for my sister these past couple of years. Covid sure did mess up a lot of businesses. But I am moving on for now, until something significant happens with the EIDL debacle. Before I go, once more because I know some businesspeople out there somehow are feeling uncertain about how to proceed at this time, this is my opinion:

If your business is closed and you closed it correctly (Secretary Of State, Final Tax Return, closed your bank account and give that money to the SBA) and you're a LLC (one member or many) or corporation (of any kind) and the loan is under $200,000 that means there is no personal guarantee. You are not on the hook for ANY payments once you close down, and you should not pay that loan. The business, if it has any assets, should offer them to the SBA as those were collateral. Because that business? It's dead. The Treasury and the SBA have no real recourse against you, no matter what those trolls are saying. The trolls are wrong, and they're just trying to make you feel bad.

And I feel like I know you. I know you, like my sister, kept her business going past the point where it made sense, and many of you paid out of your own pocket to keep your EIDL loans current. Because you wanted so bad to rebound and to "pull your own weight". You're good people for wanting that. But once you gave your all do not let this turn into the reason why you become a burden on your kids or the system when you get old. Cut the cord, burn it down, hold a viking burial if you like, whatever. Just don't pay these loans once you are closed down (again assuming the abovementioned points I made).

So what, your business failed. Doesn't mean you suck, sometimes things just happen. Especially in a pandemic. So pick up your self and wash off the stink and get back to living your life. Don't live in fear. Blessings.