[PINNED] Promote your business, week of March 30, 2020 small business |
- [PINNED] Promote your business, week of March 30, 2020
- EIDL $10,000 Grant App is UP!
- I just finished the SBA emergency disaster loan app and here is my experience.
- Does anyone here have medical supplies that they have given away? I have a questions about logistics and money.
- Sole Proprietor - Impact of COVID will hit me later
- Application & Funding Process: Paycheck Protection Program
- CARES Act | Paycheck Protection Program
- Struggling cleaning biz made worse by covid19, do I apply for a loan or let my two employees go?
- Small business/no employees
- Someone needs help
- What do you think of Google Smart Campaigns vs Normal Campaigns, for small businesses?
- Those of you still doing business... are you nervous?
- Payroll SBA over $100k?
- Do you think the amount of cash your company has would affect your ability to get the SBA Disaster Loan/any other loan?
- So what is the TLDR for a small business to take out a CARE / SBA / COVID19 loan?
- PPP loan & 10k Grant
- SBA Covid Loan Cares Act
- What makes a good business partner?
- New EIDL link vs uploading docs - which way is correct?
- Will employer's tax rate increase due to their employees filing for unemployment
- PPE Designs & BOMs?
- Yes or no for the stimulus check?
- Unemployment: P/T employee with a LLC
- Should I take a client to court for non-payment in the current economic climate?
| [PINNED] Promote your business, week of March 30, 2020 Posted: 29 Mar 2020 07:27 PM PDT Post business promotion messages here including special offers especially if you cater to small business. Note: To prevent your messages from being flagged by the autofilter, don't use shortened URLs. [link] [comments]  |
| Posted: 29 Mar 2020 05:44 PM PDT |
| I just finished the SBA emergency disaster loan app and here is my experience. Posted: 29 Mar 2020 05:35 PM PDT So, from what I heard is that in the past week or two, the SBA loan website went down and the process was long. A friend of mine told me to wait until this weekend to fill the application out, which I just did, and it took me 15 minutes. Would of been 10, but I took my time and double checked everything. My friend said a loan officer should contact me the next day if they need anything else, which I'm guessing my tax return from 2018 because I haven't filled for 2019 yet and maybe a P&L ( profit & loss) for 2019. Hopefully I get a loan soon [link] [comments]  |
| Posted: 29 Mar 2020 02:38 PM PDT We have a pallet of PPE, mainly surgical masks and gloves-- arriving this week in NJ. I'm happy to get it to medical facilities in need but it's about $3,000 in supplies ($4,000 if you factor in tariffs and shipping) that we can't afford to lose. Does anyone know if hospitals or facilities have been/are willing to pay for these supplies at our invoice cost? We'd gladly cover shipping but I can't afford to lose that much money right now. [link] [comments]  |
| Sole Proprietor - Impact of COVID will hit me later Posted: 29 Mar 2020 02:03 PM PDT Thought I'd ask all you smart folks. I am a sole proprietor, no employees, and so far, there's been very little impact to my business (I work with solo entrepreneurs get online business set up and growing). So far, most of my clients are doing okay, but I'm sure that many of them will have to end our relationship if this drags on too long. Right now, I don't need the unemployment insurance that the CARES Act offers me. It feels wrong to apply for it, since I know there are many others that need it way more than I do. My question is this... If, as a hypothetical example, I were to lose a client a week over the next 12-16 weeks, when would be an appropriate time to apply for the special Unemployment provision? Plus, I'm in Illinois, and the Unemployment application has nothing to do with my situation - will they be coming out with different applications for us? Any of you wise folks have insight or opinions for me on this? I appreciate it! UPDATE: You all sure do come through. Thank you. I applied for the EIDL this afternoon. I'm going to wait a few days to see if there is any clarity about sole proprietors applying for UI. But, what I realized is that I am in no position to concern myself or try to influence how these funds are distributed. I am concerned about systemic racism and all the other dysfunctional systemic crap that is intertwined here. And I don't know what to do except name it, be watchful, call it out, and do what I can to help shift it. I don't help anyone through if I let my business fail trying to be helpful. May we all experience in our lives and businesses: more love, not less - all-ways.💜 🙏🏻 Thank you everyone... you helped me out a ton! [link] [comments]  |
| Application & Funding Process: Paycheck Protection Program Posted: 29 Mar 2020 07:39 PM PDT |
| CARES Act | Paycheck Protection Program Posted: 29 Mar 2020 06:49 AM PDT Hello everyone -- I am sure many of our business have been impacted by the COVID-19 outbreak. We are located just a few miles west of the Detroit city limit, which on a per-capital level will have it about as bad as anywhere in country. We have shuttered our operation until at least April 14th, but likely later, due to the severity of this. We are considering keeping everyone on payroll and using a CARES Act loan to cover payroll, with the understanding that the debt is canceled if we retain employees and pay them between 75%-100% of the earnings they had in the window of time between March 1 - June 30, 2019. Also, our state closed parts of our operation per executive order on Monday, March 23rd. We have already had many of those employees file with the state UIA and they are expecting a $600 increase in their benefits from the CARES act. Do we need to bring everyone who filed for unemployment back on the payroll in order to have the proper FTE count to make this debt cancelable? Or do you folks read this to mean that those already laid off can remain laid off... I just imagine that it will be tough to get some of of lower wage earners back on payroll for us to qualify for PPP if they are earning the state UIA money plus an additional $600 in federal dollars. This $800-$900 per week combined that someone would earn is greater than the earnings of the lowest quartile of our employees, so how would I get them to come back? Unless we threaten to cancel benefits and put them on COBRA. As of now we were planning on laying off employees but paying benefits through the end of April no matter what. We made this choice because our state started closing businesses in the week before the CARES act was a done deal. Had we had the extra five days to keep some semblance of normal operations, we would have not laid off and instead paid everything using the PPP program. Just curious if we need to bring back those on layoff already in order to do the PPP loan with the expection of the debt being canceled. Here are my takeaways and some thoughts I put together last night -- can anyone else share their opinions on this?
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| Struggling cleaning biz made worse by covid19, do I apply for a loan or let my two employees go? Posted: 29 Mar 2020 10:44 PM PDT What are my best options. Honestly I've put a lot time and money into this business over the past few years and I'm starting to get burned out. I've lost a large number of accounts from the coronavirus so I have my cleaners doing some sales just to give them hours but it's costing me. I know if I let them go the unemployment from the stimulus would help them a lot and it gives them time to find something else. Or do I take out a SBA loan from the stimulus and use it to pay their payroll in hopes of it getting forgiven and help boast our accounts. Thanks in advance! [link] [comments]  |
| Posted: 29 Mar 2020 09:20 AM PDT Hey everyone, can someone tell me whether I can qualify for anything? I am the sole proprietor of a rental house without any employees. I lost 100% of my business. I am in Texas. I have an employer whom I can file unemployment with - are we allowed to file unemployment and also be eligible for any type of small business bailout? FWIW majority of income comes from rental equipment. [link] [comments]  |
| Posted: 30 Mar 2020 03:28 AM PDT Hi, we run a social project that helps economically disadvantaged people to improve their livelihoods. We are currently helping a women's company based in Afghanistan (I know omg) . Because of the current crisis (Covid-19 or coronavirus), I am often in the hospital, I cannot continue the social project in a proper way. Currently we need help with the reorganization of the webpage, help with our Amazon site, support with the cooperation with affiliate cooperations and e-commerce in general. Also we would be happy about further possibilities in distribution and sales, especially because you are experts. Since our income has collapsed and we have no more money, we pay in congratulations and thanks. If someone would like to help, has time and can't do anything better with it, we would be happy if this appeal reaches those who can help. We are aware that during this time many people are worried about themselves and their loved ones, and so are we. We still want to fulfill our duties and everyone who wants to do so is welcome. Many greetings Your Saffron Collective Team [link] [comments]  |
| What do you think of Google Smart Campaigns vs Normal Campaigns, for small businesses? Posted: 30 Mar 2020 03:27 AM PDT |
| Those of you still doing business... are you nervous? Posted: 29 Mar 2020 05:19 PM PDT Hi all, I own a restaurant (with a partner) and have converted to takeout, curbside, or doordash delivery only. We are always working. Sales are down about 30 to 35 percent. We are making enough money to pay our full time chefs, cooks, a couple dishwashers, and a couple people to answer phones and get orders ready. Maaaaaybe a couple bucks profit. Truthfully haven't done any weekly balances yet in the two weeks we have operated like this, but keeping an eye on my checking and saving accounts shows me I am pretty much breaking even at this point. Only reason to stay open is to pay those few employees and to let the town know they can depend on us. We are in a location that hasn't been hit hard yet, but I still worry, though. I don't want to get sick. I don't want my family to get sick. I don't know if I should keep this thing open any longer or just call it a day? My partner, for some reason, wants to keep going. I on the other hand don't. He knows we are not making much profit, but our accounts are healthy. If we were to close, we will be fine for a couple months. No mortgage or rent, just taxes. Electricity for coolers and freezers. I guess I'm in a predicament. I think I'll just tell my partner to go ahead and keep it open without me. He will back out sooner than later. [link] [comments]  |
| Posted: 29 Mar 2020 02:07 PM PDT Hi All, The new SBA states, " Payroll costs exclude: compensation of an individual person in excess of $100,000 (as prorated for the period)". What happens to my VP employees that do may over $100k annually? Will I not be able to get any financial relief for them? Or is that $100k for the 2.5 month period? [link] [comments]  |
| Posted: 29 Mar 2020 06:58 PM PDT I had this thought that I would get denied, and how upsetting that would be. I'm trying to calm my nerves while I wait for a call back for my application. Thanks in advance for any input. [link] [comments]  |
| So what is the TLDR for a small business to take out a CARE / SBA / COVID19 loan? Posted: 30 Mar 2020 01:06 AM PDT 3 employees, I have a feeling our contracts won't get paid when shit really hits the fan. [link] [comments]  |
| Posted: 29 Mar 2020 10:52 AM PDT Can we apply for both? If we receive one, are we still eligible for the other? Can anyone provide me a resource for the 10k grant? I believe it is part of the older SBA disaster loan. Does every small business qualify? [link] [comments]  |
| Posted: 30 Mar 2020 12:27 AM PDT Anyone else applied for the covid loan through the SBA? I initially was doing the original application that was up this morning which took hours because it requires tons of paperwork. And then when I went back to submit all my paperwork, that application was gone, and it was replaced with a new application to include the cares act. And that application took less than five minutes. And it didn't require any of the paperwork. And then I was assigned an application number of like 3600012800ish. I'm wondering if the numbers go in numerical order. Or if they are completely random. You don't receive anytime of timeframe when submitting it. Or any contact info. So I wonder how long this will take. [link] [comments]  |
| What makes a good business partner? Posted: 29 Mar 2020 07:25 PM PDT Just started a biz in the last year. To be totally honest, I'm unsure if my business partner "has what it takes" to get this business off the ground. Any advice for a struggling business owner? [link] [comments]  |
| New EIDL link vs uploading docs - which way is correct? Posted: 29 Mar 2020 10:41 PM PDT Is anyone concerned that the new link for the EIDL doesn't ask any actual financial questions (other than gross rev and cost of goods sold)? The original method of downloading docs and uploading had many more relevant fields including a financial statement, request for taxes etc. Could the loan application via the link really be that easy? Or should we be submitting both ways? Any advice appreciated! [link] [comments]  |
| Will employer's tax rate increase due to their employees filing for unemployment Posted: 29 Mar 2020 06:52 PM PDT My uncle owns a small hair salon in California and my mom and aunts work for him (3 employees total). They are closed due to the Coronavirus. I told my mom to file for unemployment but she is afraid to do so because she said it will increase my uncle's tax rate, is there any validity to this? I heard that this is usually true but idk if it's different now because of the Coronavirus. Thank you in advance for your help. [link] [comments]  |
| Posted: 29 Mar 2020 03:55 PM PDT Lets show the world what Small Businesses can do! Are there any resources for open source PPE designs? Are there any engineers that can create open source PPE designs and post them? Web designers that can create sites to host the designs? Can GitHub be used for open source CAD designs? Let small manufacturers review the plans, see what they can build. There are so many great companies in our complex economy, filled with good people that want to help. Lets turn this thing around, stop the political bickering and turn something horrific into something incredible! [link] [comments]  |
| Yes or no for the stimulus check? Posted: 29 Mar 2020 02:11 PM PDT Will a small business with only one other employee receive the stimulus check? Or are they only offered the SBA loan? [link] [comments]  |
| Unemployment: P/T employee with a LLC Posted: 29 Mar 2020 05:32 PM PDT Hi, I am in Maine. I have a part time job (still employed) and I am a sole prop of an LLC with zero income for the time being. Can I file for unemployment? Thank you. [link] [comments]  |
| Should I take a client to court for non-payment in the current economic climate? Posted: 29 Mar 2020 09:14 PM PDT I have a client that has been delinquent for about 6 months now to the tune of about 350k. I feel like I should take them to court but also feel like there is little than can be done with the current state of things. The only silver lining I see right now is the SBA loans that are becoming available and them using that money to pay us back. Is there a better way to go about this? or a way to make them pay us with whatever SBA money they receive? [link] [comments]  |
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