YouTube tutorial by Donna Genie (uploaded June 1, 2023) demonstrating how to use ChatGPT to draft a letter to the SBA informing them that you cannot repay an EIDL loan due to business closure. The video walks through obtaining a ChatGPT account, using a prepared prompt (with user-filled business details), shows sample generated text (including a sample loan date May 1, 2020 and amount ~48,000), and warns viewers to verify AI output before sending. Closing includes links and contact info.
Foreign we're going to tackle two fun topics all at once here today. We want to help you inform the SBA if you have an Eidl loan that you are unable to pay because your business has closed. And we're going to do it in a super simple way using Chat GPT. So lots of fun here. But first off, if you don't have a Chat GPT account yet, it's probably time get one and play around with it a little bit. You'll find it's super useful and easy. So in this true spirit of this, I've asked Chat GPT to tell you how to get an account. So it's telling you to go out and visit the browser through OpenAI.com that's really all you need. When you go to OpenAI.com you'll be able to sign up using the link here and set up a brand new account. Just follow that through. Now, we've already got the instructions here. You don't really need to use the API information to do what we're going to talk about today. So let's just get started with a new chat window. I've developed a prompt for you already that will allow you to get all of the information ready that you'll need. So here is the prompt we're going to use in ChatGPT and what you, I would suggest is to open this document and enter in your business details all in the front here. I'm just going to make up some information here and I'm actually not going to answer all of the questions just for the sake of time, but I'm going to copy this whole prompt right back into my chat message. Right. And we've asked it as the Eidl bot to draft this email for you. So it is going to write a letter to the SBA telling them that you are not going to be able to pay the loan back. Now, in our case, when we did not include some of the answers to the prompts, it's just going to create some brackets for you to go back and enter that information. But if you had fully filled that out in the beginning, it will already be included. So let's take a look and see what it gave us. And each one of these will generate differently. It's not going to be just a simple template response, it's actually thinking just like if you asked five different humans to write this letter. All right, I'm writing you to inform you about the discontinuation of operations and closure of Bob's Automotive and to convey our inability to repay the economic injury Disaster loan received on May 1, 2020 with a loan amount of 48,000 long number blah blah, Bob's Automotive encountered significant financial difficulties that has led to the closure of our business. We regret to inform you that due to these circumstances, we are unable to fulfill the loan repayment obligations. Now, I won't read through the whole rest of this. You can read this and you can do it yourself. But one thing I will tell you and remind you is with Chat GPT, it is not always factual, so you must read the content that it has given you before you hit that Enter button or before you send that off to make sure that it reflects the true answer. But it is here to help you with all the wording. Make this not such a daunting task to include all that information. Make it super quick and easy. You also don't need to remember my prompt here or try to retype all this. I'll just include it down below. There'll be a link right in the bottom, so just cut and paste this and go at it. And once you complete this task, try out some other things in ChatGPT. It can help you reimagine a lot of things, help you rewrite emails, write emails, develop content for a business. Hey, it may even help you develop a new idea to start a new business again. Please follow us on Facebook and Instagram. Please make sure to check out our blog and our website link below. Subscribe to our YouTube channel and hit the bell to be notified when we post. You can email me@donnapyopaccounting.com.
