Here's How To Earn Money on Your EIDL Loans

In today's video, Ryder talks about why small business owners and entrepreneurs who have money in their bank account — especially loans like the EIDL loans that are accruing interest — should flip the script and make sure ANY money in their business bank accounts is earning 2% interest, 3% interest, 4% interest or more, depending on if you open up a business checking or business savings account. This is a foundational way to start earning passive income on the money you have in your bank account. The same is true for your personal bank accounts too!

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[JayyCupp]

I was told parking the SBA eidl funds into a high yield savings account is not aloud is this true?

[michaelphotodad]

What banks do you suggest have the best interest?

[Sam-sslo]

Is there any chance they will waive EIDL loans for businesses that failed and had to close?

[REQtip]

I am concerned with providing a paper trail in case of audit. Can I just move the sba money to a different bank as part of that trail?

[chrisparrinello]

I certainly don’t understand I have kept our eidl loan money separate from our day to day business flow of money purposely not to create any conflict of how the funds were used
Are you saying you could use the money to invest in these accounts? Every thing I’ve read or heard is that is not allowed
This really important as I’m accruing interest daily and would love to figure out a solution to offset it
It’s allot of money not chump change!

[aloha_preppyvibez]

Can you show me if I don't have a business bank account

[tinacrugher]

It says on loan agreement that this isn’t allowed doesn’t it

[stalexiustransporttation]

Good afternoon skip I'm interested to invest my endless loan .

[darondag]

Hey, Skip. Is it true that business owners of an S Corp who took salaries are not allowed the ERC?

[wandabryant]

Yes this something I plan on doing, pay off loan. And balance out any additional debts..

[mariaisabelkusick]

I need to speak with some one to help me