Hi,
Received a Covid-19 EIDL under the CARES Act in July of 2020. Shortly thereafter business went through a 6 month revenue hiatus due to Covid-19 disaster related work stoppages. The LLC weathered that storm with the help of the loan funds and managed to stay afloat until 2023 when revenue pretty much came to a screeching halt due to Covid-19, economic and U.S. Government Administration changes and policies that impacted the oil and gas industry.
Now it looks as though the LLC will have to close and dissolve and be unable to pay the remainder of the loan.
Any advice or personal knowledge/experiences would be appreciated. I am especially concerned about he TOPs (Treasury Offset) impact to me personally from a forced default.
Mudtech61
