• Breaking News

    Wednesday, April 8, 2020

    Home Unlabelled Media is finally starting to report on sba changing the intent of the cares act small business

    Media is finally starting to report on sba changing the intent of the cares act small business

    April 08, 2020

    Media is finally starting to report on sba changing the intent of the cares act small business

    Media is finally starting to report on sba changing the intent of the cares act

    Posted: 07 Apr 2020 02:47 PM PDT

    The Coronavirus Bailout Is Really Going to Screw Over Mom and Pop Businesses

    This is going to destroy so many small businesses. It makes me sick what they are doing and it needs to be fixed immediately or many businesses like mine are going to go under within days.

    submitted by /u/BattleBo
    [link] [comments]

    The SBA Is Approving Large Companies Who Applied Later, Rather Than Smaller Businesses That Applied Before Them

    Posted: 07 Apr 2020 11:39 PM PDT

    I have read multiple posts on this subreddit about companies who applied on the 30th and the 31st who got approved for EIDL loans and advances. I petitioned for an EIDL loan/advance on the 29th, and I know some other small businesses that also applied for EIDL on the 29th.

    The SBA is ignoring us while other larger companies are being approved before us, even though they applied after we did. The concept of first come first served is how things generally work in life.

    Additionally, larger companies are frequently already able to get sizable PPP loans and other benefits that smaller businesses cannot access. All of this seems very unfair. Plus, there is the fact that the Congress and the Senate mandated that the SBA send out EIDL advances in three days. Three days from the 29th would have been April 1st.

    submitted by /u/igerardcom
    [link] [comments]

    PPP success story

    Posted: 08 Apr 2020 04:27 AM PDT

    My sister applied at Affinity bank on Friday, got approval over the weekend and funds deposited in her account yesterday.

    submitted by /u/pinballgirl13
    [link] [comments]

    Wells Fargo Walkout - Time to Pull Our Accounts

    Posted: 07 Apr 2020 01:49 PM PDT

    Wells Fargo doesn't care about Small Businesses. As soon as all outstanding checks clear, I'm pulling my accounts.

    After the late quasi roll out of the PPP program, I was lucky enough to catch the minimal opening this weekend to 'sign up' to apply for the loan, only by luck. Basically, I gave my application to fill out an application. Many weren't so lucky since they didn't communicate this 'opportunity'.

    Further, they capped themselves at 10B, or less than 3% of available funds, for the 4th largest bank in the USA.

    I've now been told I can't begin the application, no reason given, four days after the program began.

    I'M DONE AND I ENCOURAGE YOU TO JOIN ME. MY ACCOUNT MEANS NOTHING TO THEM, MANY TOGETHER DO. LET'S NOT REWARD THIS BEHAVIOR.

    Today I received this:

    Update on your interest in a Paycheck Protection Program application

    We want to keep you informed on your interest in the Paycheck Protection Program application through Wells Fargo.

    Due to high demand, we are not able to begin your application at this time, but you remain in our queue based upon when you submitted your initial interest.

    All applications for the Paycheck Protection Program loans will be online only. We will continue to send you email updates frequently so you are informed on the status of your request for an application. Our branch and call center teams aren't able to answer any questions about this status.

    What you need to apply
    You will be asked to provide supporting documentation, such as

    • Payroll tax filings
    • Payroll Tax form 941
    • Form 1099-Misc
    • Income and expenses from a sole proprietorship

    You may be able to apply elsewhere
    There is a limited amount of funds approved by the SBA for the Paycheck Protection Program. Because Wells Fargo is targeting to distribute a total of $10 billion to small businesses with fewer than 50 employees and nonprofits, you may want to apply elsewhere to increase your chances of receiving a loan before the funds run out. Visit the SBA website to find a full list of participating lenders you can contact.

    Keep in mind that each business may only receive one loan through the Paycheck Protection Program.

    We will continue to keep you updated through email.

    submitted by /u/darth_diego
    [link] [comments]

    Update: Got approved for EIDL, 2 Hard Credit Hits

    Posted: 08 Apr 2020 06:29 AM PDT

    So as others have been seeing, I got an email at 3:57am PT this morning to take the 15k EIDL loan, with the 10,000k advance. It states this on the amount page inside the portal:

    Important message regarding your loan amount: Our nation's small businesses and private, nonprofit organizations are facing an unprecedented economic disruption due to the COVID-19 outbreak. The SBA is experiencing a large volume of applications for the Economic Injury Disaster Loan. Due to current appropriations for this program, the SBA will make initial loan disbursements for two months of working capital up to a maximum of $15,000 per applicant. This is in addition to the Advance of up to $10,000 each small business and non-profit is eligible to receive. By doing this, the SBA will ensure it is supporting the greatest number of applicants during this difficult time.

    Additional options available to help small businesses, include the recently launched Paycheck Protection Program for payroll costs. The Paycheck Protection Program offers loans of up to $10 million at a 1% interest rate. These loans mature in two years, but the amount of the loan used for payroll and certain operating expenses in the first 8 weeks after loan disbursement may be forgiven if the business uses a minimum of 75% of the loan for payroll. Additional resources, such as information on debt relief and express bridge loans can be found at www.sba.gov/coronavirus.

    ​

    Hesitant to accept as we obviously need more, would this prevent qualifying for another round or loan increase later?

    Also pissed that they hard pulled my Experian credit twice. One on 3/18 for 2000 app, and today 4/08 for this 36 series app that was approved. What gives?

    Edit: I also run a $1.5 million revenue business with 32 employees so this will basically cover 1.5mo of rent and thats it..

    submitted by /u/ebaydan777
    [link] [comments]

    I have PPP Loan Approval from SBA

    Posted: 08 Apr 2020 04:02 AM PDT

    Banker text me last night about 930pm to let me know SBA had approved. Text says "Your loan was approved by SBA. More to come." So I don't have the funds or the paperwork or the actual amount or the process. But I do trust this guy (small community, small bank, both my wife and I are acquaintances with a lot of the staff and upper management of the bank).

    PPP application and docs went in Fri at lunch. Commercial loan officer started texting me Sunday morning at 7:30am for additional documents. The extra things he asked for were 2019 tax returns if we had them (sent the draft from our CPA but they are not filed) and a direct breakdown of our health insurance benefits cost to demonstrate the difference between our payroll and w-3 amounts. Gusto was giving us a number $400 higher than our W-3 + health costs. The bank underwriter told the loan officer he wanted exact - no discrepancies, no questions. I finally figured out was a separate vision plan we gave one employee to match his existing benefits at his previous employer. Bank approved by lunch on Sunday.

    Event company. 1.25m gross revenue in 2019. Average number of employees on payroll for year 2019 was 12.
    Average payroll for 2019 X 2.5 was $123,800 so that was the loan request. We shall see!

    The loan officer previously told me the bank (Banksouth) would be setting up a separate account attached to my company where the funds would be distributed. I figure the easiest way to make sure we stay on track with forgiveness is to attach Gusto directly to that account, pay the company side of health ins and rent and utilities from there as well. Nothing else.

    I have literally nothing for my staff to do over the coming weeks/months. All our events are cancelled. All but two employees are currently furloughed. I plan to have them working on projects at my house first. We were mid renovation when this happened. I now can't afford a lot of the subcontractor work originally planned so we will DIY. I also have two offers from friends for paid jobs on big landscape projects at their houses. We will NOT be back in the event business in 8 weeks. There is no way. I have no idea what I'll be doing at that point.

    submitted by /u/getlostonpurpose
    [link] [comments]

    PPP approved! (Through Chase)

    Posted: 07 Apr 2020 07:08 AM PDT

    A lot of people are (understandably) on edge, so I just wanted to share my experience in hopes to give you all some encouragement.

    We filled out the contact form on Chase's web site Friday afternoon, got an initial call Saturday night. Worked with our rep on Sunday to get the application submitted and supply a few extra docs backing up our payroll. Monday night I was informed we made it through underwriting and this morning I have a pending deposit from the SBA!!!!

    My rep told us we were one of the earliest applications, so that's fortunate for us. But for everyone else, I hope you can take comfort that things ARE moving along.

    Good luck!

    submitted by /u/bonfire57
    [link] [comments]

    PPP: What's with the random "approvals"?

    Posted: 08 Apr 2020 05:07 AM PDT

    Scouring the internet you can find a random person here and there who claimed to have been funded from the PPP. They're probably not lying. But it doesn't mean that the SBA got the program figured out and it's rolling.

    I asked my bank, the top SBA lender in the state, about this late yesterday, and the topic was discussed with one of my trade organizations.

    As of the end of the day yesterday the SBA had not sent closing documents for guidance to the lenders, or a guarantee that they will pick up the loans. So my bank and many others maybe issuing approvals, like I received, but not yet actually funding the loans.

    Some banks are taking it upon themselves to fund the loans in house in advance and hoping to work out the SBA stuff later. But that only appears to be a small handful of cases.

    Hopefully things get straightened out soon but until we start reading about a wave of people funded, that's what's going on

    submitted by /u/Joejames2185
    [link] [comments]

    Just got approved for EIDL

    Posted: 07 Apr 2020 09:51 PM PDT

    It was supposed to be up to 2m, and we got offered 15k. Not sure if I should accept now or hope that extra funding comes around.
    They had the following:
    Important message regarding your loan amount: Our nation's small businesses and private, nonprofit organizations are facing an unprecedented economic disruption due to the COVID-19 outbreak. The SBA is experiencing a large volume of applications for the Economic Injury Disaster Loan. Due to current appropriations for this program, the SBA will make initial loan disbursements for two months of working capital up to a maximum of $15,000 per applicant. This is in addition to the Advance of up to $10,000 each small business and non-profit is eligible to receive. By doing this, the SBA will ensure it is supporting the greatest number of applicants during this difficult time.

    submitted by /u/frebay
    [link] [comments]

    SBA South Florida is hosting 2 conference calls today on Covid-19 loans

    Posted: 08 Apr 2020 06:03 AM PDT

    I never had an account before (not a reddit person) but just created an account to post this. I guess they don't allow new account to post image?

    The SBA South Florida is hosting 3 conference calls today EST on COVID-19 disaster loans. 1000 participants per call. First call starting right now:

    Wednesday, April 8, 2020, 9:00 A.M. – 11:00 A.M.
    Dial-in: 888-251-2949 or 215-861-0694; Code: 1671546
    Entry Link: https://ems8.intellor.com/login/824072

    Wednesday, April 8, 2020, 1:00 P.M. – 3:00 P.M.
    Dial-in: 888-251-2949 or 215-861-0694; Code: 5550236
    Entry Link: https://ems8.intellor.com/login/823970

    ​

    SPANISH: 11:00 AM-1:00PM. Same call in number, Code 9039175

    https://ems8.intellor.com/login/823962

    submitted by /u/truyen1412
    [link] [comments]

    SBA is trying to do an end run around the EIDL mandates?

    Posted: 08 Apr 2020 05:55 AM PDT

    TL;DR: I applied for an EIDL on March 17th, documents were accepted, credit check run, but instead of assigning a loan officer and following the process, a new portal/process with a new loan number is trying to force everyone to accept a loan limited to 15k - doesn't even cover our base expenses. The SBA is trying to work around what is legally mandated by the original 7(b)(2) loan program.

    The Longer version:
    When the covid-19 disaster was announced, I applied for the Economic Injury Disaster Loan (EIDL) on March 17th, 2020. I filled out all the forms and submitted them using the SBA portal. The loan application number assigned was 200009xxxx. They ran my credit the next day. The documents were accepted and were queued up to be assigned to a loan officer, and then the process stopped.

    I think I know why now. On April 1st, I received an email from the SBA that informing me that I should apply for the EIDL grants of up to 10k available via the CAREs act thru a new streamlined portal. I put that application in and received a new loan number - 33010xxxxx. I was assured by customer center folks that I would not lose my place in line from the first application and this new one was only to get me access to the 10k grant.

    Since then I have called every day and I was told each time that all the paperwork on the original loan looked copacetic and all we were waiting on was a loan officer to be assigned.

    Today I received an email referring to the second loan number suggesting that I take the next step. This sent me to a new SBA portal, where I needed to create a new account. After which I was told I was qualified for 15k, and I needed to verify my identity to move this forward. There was no mention of my original application.

    From the site:

    "Important message regarding your loan amount: Our nation's small businesses and private, nonprofit organizations are facing an unprecedented economic disruption due to the COVID-19 outbreak. The SBA is experiencing a large volume of applications for the Economic Injury Disaster Loan. Due to current appropriations for this program, the SBA will make initial loan disbursements for two months of working capital up to a maximum of $15,000 per applicant. This is in addition to the Advance of up to $10,000 each small business and non-profit is eligible to receive. By doing this, the SBA will ensure it is supporting the greatest number of applicants during this difficult time.

    Additional options available to help small businesses, include the recently launched Paycheck Protection Program for payroll costs. The Paycheck Protection Program offers loans of up to $10 million at a 1% interest rate. These loans mature in two years, but the amount of the loan used for payroll and certain operating expenses in the first 8 weeks after loan disbursement may be forgiven if the business uses a minimum of 75% of the loan for payroll. Additional resources, such as information on debt relief and express bridge loans can be found at www.sba.gov/coronavirus."

    Herein lies the rub - 15k does not cover much of our expenses. While the PPP SBA program will provide some relief on that (I have put in a separate application for that), we need a larger loan to keep us afloat for a longer period of time - we provide cloud based services to the airline industry and we don't expect our business to pick back up for at least six months, or give us time to pivot to doing something else.

    I believe the SBA is trying to do an end run around what the 7(b)(2) loans provide - up to 2M as a loan to be paid over 30 years, based on the applicants revenue and cost of goods. Typically this is about 50% of the gross profits - for us that would be a LOT more than 15k.

    When I called them this morning the CSR kept insisting that the 3 series loan was the only thing available now, and I needed to follow the instructions in the email.

    By not assigning a loan officer they are forcing people into accepting the 15k loan.

    I don't understand the reticence, this is a loan, that I am willing to guarantee personally, and put collateral up for. I guess its just the volumes, and for people who accept the 15k+10k, it will reduce the load. Anyway, I am going to keep trying to call to get someone on the line, who will be willing to help get the loan officer assigned.

    Edit Spoke to another CSR, Jose who was great. He took some time to reach out to his supervisor, who said that the process on 2series loans will continue and a loan officer will be reaching out. We'll see. Technically in the law, the EIDLs do offer a 25k working capital rapid relief with an ability to change the final loan number.

    submitted by /u/amarnro
    [link] [comments]

    COMPILED - Pressing of the SBA - Media Is Covering - Change.org Petition and More.

    Posted: 07 Apr 2020 06:19 PM PDT

    I hate to be a kicker,

    I always long for peace,

    But the wheel that squeaks the loudest,

    Is the one that gets the grease.

    ​

    In order to succeed in obtaining coverage on this topic we as small business need to continue to pressure the SBA as well as our senators. I'm providing a list and resources that we can use to continue to pressure.

    Please take the time to read over them. Adapt them to however you can use it. If we continue to make noise its likely we can press for change. If we fail to push this issue, we may fail to get our voice heard.

    1) Start with https://www.change.org/p/congress-hold-the-sba-accountable-for-the-eidl-failures

    Please start with the Charge.org petition

    - Sign the petition, comment in the petition, and share the petition. Write about your business and why the EIDL affects you.

    - If you'd like to sponser an advertisement of the change.org petition. Here is the donation for it. I started the change.org petition, but the sponsership automatically runs. I don't manage it. I will also be putting my own money towards it.https://www.change.org/p/congress-hold-the-sba-accountable-for-the-eidl-failures/sponsors/new?source_location=petition_manage_sponsor_ad

    2) Twitter

    Twitter is starting to gain traction and starting to make people more aware.

    Start tweeting these people

    White house correspondents:

    @Yamiche @PeterAlexander @KellyO @JohnJHarwood @GeoffRBennett @acosta @johnrobertsFox @peterbakernyt @PeterAtlantic @benstracy

    Senators

    @SenSchumer @ChrisCoonsforDE @SenatorCardin @BernieSanders @amyklobuchar @marcorubio @senrickscott

    Policymakers

    @stevenmnuchin1

    http://www.tweetcongress.org/home (Resource for additional Congress twitters.. theres so many).

    -- Hashtags to Use

    #SBA #Smallbusiness #Stimuluscheck #EIDL #PPP #payrollprotectionprogram #congress #SBAGOV #EIDLHOAX #PPPLOANS #CARESACT #Unemployment #Stimulus

    3) Emails

    Email your representatives directly.

    https://www.house.gov/representatives/find-your-representative

    4) Letters

    https://docs.google.com/document/d/1lhxC3TasI_eqUKL7t6cii-Q49L1TOnVbV9Wwg7FNjc8/edit?usp=sharing

    Heres a letter taken from u/up2urhealights on another reddit post. Its placed in a google doc for people to save and make their own copy. Please use it.

    If you'd like to modify it, or send your own heres a small guide on it.

    https://www.aallnet.org/wp-content/uploads/2018/01/writingMOC.pdf

    5) Phone Calls

    I spoke with a person from my representative's office today. Andy Kim. We discussed the issue for about 5-10 minutes. She even gave me her 'personal work phone' so I could call her directly with any issues.

    Call your representative. Seriously. Speak to someone, leave a voicemail. The intent is to start pressing the issues with your representative.

    https://www.house.gov/representatives Here is the directory of them.

    6) Journalists

    [ksweet@ap.org](mailto:ksweet@ap.org)

    [amara.omeokwe@wsj.com](mailto:amara.omeokwe@wsj.com)

    [jrosenberg@ap.org](mailto:jrosenberg@ap.org)

    [niquette@bloomberg.net](mailto:mniquette@bloomberg.net)

    [mniquette@bloomberg.net](mailto:mniquette@bloomberg.net)

    [zwarmbrodt@politico.com](mailto:zwarmbrodt@politico.com)

    [dion@axios.com](mailto:dion@axios.com)

    [emily.flitter@nytimes.com](mailto:emily.flitter@nytimes.com)

    [jeanna.smialek@nytimes.com](mailto:jeanna.smialek@nytimes.com)

    [droberts@yahoofinance.com](mailto:droberts@yahoofinance.com)

    [gregory.iacurci@nbcuni.com](mailto:gregory.iacurci@nbcuni.com)

    [tory.newmyer@washpost.com](mailto:tory.newmyer@washpost.com)

    [stacy.cowley@nytimes.com](mailto:stacy.cowley@nytimes.com)

    PLEASE if you email a journalist. Make it personal. Explain your situation and let them know exactly how it affects you. Let them know the shortcomings of the current program.

    ---

    ​

    Keep making noise. The more you make noise the more successful we can be.

    submitted by /u/Gulrokacus
    [link] [comments]

    Master Post of various messaging on EIDL Emergency Grant Program

    Posted: 08 Apr 2020 12:44 AM PDT

    Hey Everyone,

    I have been doing a massive deep dive on the EIDL Emergency Grant Program. Specifically looking for instances where there was messaging from state/local/federal agencies and officials that most closely match what I've read in the CARES Act/HR748 itself. Here is a massive list. I plan on sorting, organizing, and summarizing this more thoroughly. However, I know time is of the essence for a lot of you and I wanted to get this information into the hands of people as quickly as I can.

    I hope you all find this useful, stay safe out there!

    Edit: Links are now in a comment below.

    submitted by /u/GetMyEIDLGrant
    [link] [comments]

    USA Today Article on PPP

    Posted: 08 Apr 2020 06:44 AM PDT

    BOA: Processing my PPP from Saturday, 4/4

    Posted: 07 Apr 2020 07:17 PM PDT

    Received an email this evening on 4/7 from Small Business - CARES 20200405 from a company called Intralinks. Prior, I had received an email from BOA saying that Intralinks was going to process the PPP loan and should expect an email from them.

    The request was the following from intralinks:

    New Documents are Available in Instructions New Documents are now available in the Small Business - CARES 20200405 22 exchange.

    Note from Intralinks The purpose of this message is to notify you of new or updated document(s). You can review the document(s) by clicking on the URL below.

    Should you require any general or technical assistance please contact Intralinks 24/7 Support Team:

    Global Phone Numbers E-mail: support@intralinks.com Live Chat

    View Documents: Instructions File Name: Loan Amount Template_4 File Name: PPP Application Addendum_4 File Name: Required Document Reference Sheet_4 Folder: Instructions Exchange: Small Business - CARES 20200405 22

    I logged into the site, set up a password and proceeded to study the requirements. I uploaded 2019 940 forms, 2019 941 forms and 1Q 941 forms, and then the two PDFs filled out from BOA: PPP Loan Amount Template and PPP Application Addendum. I didn't have to print/scan any documents as everything was electronically available and could be completed/uploaded to the site.

    I did not enter any information re: payments to partners, 1099s to contractors, or an EIDL oustanding loan. They stuck to 940/941 forms for estimating the x 2.5 amount.

    It took about 20 minutes to complete.

    We're a small business with BOA since 2010 and had never taken out a loan or a credit card with them. I had submitted our application on Sat AM on 4/4 after they had expanded their PPP.

    Will update everyone on my progress. Many thanks to everyone on this subreddit.

    submitted by /u/DetectiveDrebin
    [link] [comments]

    Ways to pivot

    Posted: 08 Apr 2020 06:19 AM PDT

    I run a small cafe that provides breakfast and lunch for a tech company. All of the staff is working at home which means my cafe is closed.

    I need to pivot but there's no way to do take out. I'm at a loss for what other possibilities might exist.

    Thoughts, tips, suggestions?

    submitted by /u/Kiki3838
    [link] [comments]

    PPP question Potencial excess in actual costs vs total PPP loan amount, can excess be distributed in employee paychecks?

    Posted: 08 Apr 2020 06:11 AM PDT

    So I'm in the midst of applying for my PPP and have run across a question when looking at expenses:

    I have extremely low fixed costs since we're running a skeleton crew our electricity and water will be lower than usual and we've owned our building for some time. This means that the ".5" part of the loan would be much more than will be spent on utilities and rent. Since the entire 2.5x payroll is forgivable, would rolling the rest of the loan into the employee's paychecks be a forgivable part of the loan (perhaps as a bonus for the skeleton crew still shipping the few orders we have)?

    Second question, my average payroll for the first quarter of this year is a bit lower than the average for 2019 (we had some part time workers during our busy season), I don't anticipate the payroll for the existing employees to reach the 2019 level. Once again, this would leave an excess in what we'd actually spend vs the amount of the loan. Would that be ok to distribute to employees?

    If we go with PPP and don't keep them on unemployment I feel the "extra" might make not getting the extra $600 sting less.

    submitted by /u/nstarleather
    [link] [comments]

    "SBA Rapid Relief Loan"

    Posted: 07 Apr 2020 09:22 AM PDT

    Just got an email from the SBA saying we're approved, but when I click through to where I'd accept the loan amount, there's no indication if it's the EIDL or an actual disaster loan. The language they use in the email "Rapid Relief Loan" I can't find used anywhere.

    Repayment terms are 30 years @ 3.75% with no payment needed for 12 months.

    EDIT: They added some text to the sign-in page, it no longer says "rapid relief loan portal", it now says:

    Access your SBA Economic Injury Disaster Loan Portal Account to review your application and track your loan status.

    And now on the loan page:

    Important message regarding your loan amount: Our nation's small businesses and private, nonprofit organizations are facing an unprecedented economic disruption due to the COVID-19 outbreak. The SBA is experiencing a large volume of applications for the Economic Injury Disaster Loan. Due to current appropriations for this program, the SBA will make initial loan disbursements for two months of working capital up to a maximum of $15,000 per applicant. This is in addition to the Advance of up to $10,000 each small business and non-profit is eligible to receive. By doing this, the SBA will ensure it is supporting the greatest number of applicants during this difficult time.

    Additional options available to help small businesses, include the recently launched Paycheck Protection Program for payroll costs. The Paycheck Protection Program offers loans of up to $10 million at a 1% interest rate. These loans mature in two years, but the amount of the loan used for payroll and certain operating expenses in the first 8 weeks after loan disbursement may be forgiven if the business uses a minimum of 75% of the loan for payroll. Additional resources, such as information on debt relief and express bridge loans can be found at www.sba.gov/coronavirus.

    submitted by /u/nimoto
    [link] [comments]

    Help! MOM & I both own our LLC (opened in 2017). We were just about to launch but then the crisis hit! What are we eligible for? PPP? EIDL? Anything?! Thanks so much!

    Posted: 08 Apr 2020 05:23 AM PDT

    We have vendor credit which is all paid for. 500 on a Business card, have invested 25,000+ since Summer 2019 when we finally had time to operate a business (open since 2017, always compliant, just never made revenue) and we were about to launch but have not made ANY REVENUE because we couldn't launch our e-comm boutique. We spend 25k+ on merch, overhead, supplies etc. We've paid ourselves but through Chase quickpay here and there (300-500 when we did) most of the time we just chalked it up as sweat equity and didn't even pay eachother much. When we did get paid it was a transfer. No paper check/w2 etc just Quick Pay from Chase.

    Is there anything we are entitled too? We have all this merchandise and spent so much money on launch events, photoshoots, flights, etc.

    Thank you everyone who can help. I truly truly appreciate it!

    submitted by /u/mtgp827
    [link] [comments]

    How do you keep your team productive during COVID-19?

    Posted: 08 Apr 2020 02:50 AM PDT

    The pandemic really hits everyone hard. In my city, they have ordered lockdown for at least 2 weeks (who knows if they will extend the lockdown). All stores in the city has to close, no store and restaurant is allowed to let customers in.

    My startup team also has to do the same. We has shifted to working from home for around 3 weeks now and it is rather... unexpectedly difficult. Our members seem to be rather less productive and lose incentive to work. I understand there is a fear of virus, but that does not mean we can just stop our operation.

    For now I can only apply a rule: basically requiring each member to share what he/she will do at the beginning of the day, and share what have been done at the end of the day. We still try to maintain work time similar to how we did at the office. I also try to encourage members to communicate if there are any trouble or question, and video call in case of emergency. So far, things work rather decent.

    Still it makes wonder if anyone has shifted to working from home. And if so, how do you keep yourself and the team productive?

    submitted by /u/TommyLe1289
    [link] [comments]

    Treasury Department officials are preparing to ask Congress to swiftly commit another $200 billion to Small Business SBA program

    Posted: 07 Apr 2020 08:34 AM PDT

    Pelosi and Schumer issue joint statement on emergency legislation

    Posted: 08 Apr 2020 04:36 AM PDT

    Looks like on the first bullet point grants $250B, where half is available to any SMB and another half for special SMB (I'm sure agribiz will manage to eat most of that channel):

    • $250 billion in assistance to small businesses, with $125 billion channeled through community-based financial institutions that serve farmers, family, women, minority and veteran-owned small businesses and nonprofits in rural, tribal, suburban and urban communities across our country, and improvements to ensure all eligible small businesses can access this critical funding and are not turned away by banks;
    • $100 billion for hospitals, community health centers and health systems, providing desperately needed resources to the frontlines of this crisis, including production and distribution of national rapid testing and Personal Protective Equipment (PPE);
    • $150 billion for state and local governments to manage this crisis and mitigate lost revenue, doubling down on the investment secured in the CARES Act;

    • Strong additional support for families with a 15 percent increase to the maximum SNAP benefit to help put food on the table.

      "After we pass this interim emergency legislation, Congress will move to pass a CARES 2 Act that will extend and expand the bipartisan CARES Act to meet the needs of the American people. "

    submitted by /u/swingadmin
    [link] [comments]

    Sen Marco Rubio’s office here in Orlando called me regarding an email I sent reference the SBA EIDL 10k grant

    Posted: 07 Apr 2020 03:31 PM PDT

    I missed the call and a staffer left a voicemail but I will be calling back tomorrow during office hours.

    Any specifics anyone wants me to ask aside from all the obvious that have been discussed in this Subreddit let me know.

    It's a step in the right direction.

    EDIT: I did not provide my phone number in my email - I'm assuming they accessed my application possibly to contact me via phone.

    submitted by /u/Brent_L
    [link] [comments]

    Single member LLC EIDL Advance

    Posted: 08 Apr 2020 02:15 AM PDT

    I'm not a sole proprietor but a single member LLC. Can I just say I have one employee which is myself as I pay myself or do I have to default to be treated as a sole proprietor?

    submitted by /u/Machinebroke
    [link] [comments]

    SBA 6 Month Debt Relief

    Posted: 08 Apr 2020 06:58 AM PDT

    I haven't seen anyone talking about it, I could be wrong, but figured I would let people know about it if they did not already. To specify our situation, have an sba 7 (a) loan that began December 7 2018, for 370k.

    While talking to our banker about the PPP, I read an article about the SBA offering to make 6 months worth of payments. So we had him look into it, and we were on the list of 8800 small businesses that are receding the funding though Huntington.

    I am sure other banks are going through this as well. And as an FYI, the banker claims we should have gotten an email saying we are on the list, but we never did.

    submitted by /u/nickmoski
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment