Can Mods create a flair system to filter out PPP posts? small business |
- Can Mods create a flair system to filter out PPP posts?
- PPP APPROVED - I AM CRYING ������
- Can We Get the Media to Help Us Shed Some Attention on SBA's 'Last Come First Served' Policy Which is Screwing Over People Who Were Submitted Earlier in Bulk?
- Congress needs to pass law requiring the SBA to pay out the full $10K EIDL advance
- To those on the fence, I beg you, apply through Bluevine. Successful application in 12 hours.
- [NEWS] IRS: Companies who receive PPP loans will not qualify for tax deductions (4/30)
- Chase came through with PPP... but I'm still leaving them
- BLUEVINE IS THE SHIT
- We have all a lot of money...probably our business and our lives...lets keep it cool..
- [NEWS] Justice Department sees early fraud signs in SBA loan flurry (5/1)
- Hey PayPal! We Know You’re in Here! Why Don’t You Try This
- One month passed, still nothing from EIDL
- BLUEVINE approved within 30 minutes.
- Payroll changes as a result of PPP
- [NEWS] JPMorgan received almost $18B for 220K PPP loan apps (4/29 8 PM)
- Kabbage/Cross River FUNDED
- EIDL and Chase PPP Approval
- PPP Approved!!! Finally I can breath a little!!!
- APPROVED BY CHASE
- My EIDL timeline
- Just got approved for PPP from Chase
- Just got approved by Chase for PPP
- Finally got my grant!!!
- Mama don't let your boy grow up to be a sole proprietor
- Has anyone else received zero benefits at all?
| Can Mods create a flair system to filter out PPP posts? Posted: 30 Apr 2020 09:51 PM PDT I understand with the pandemic going on right now its on everyones minds, as it should be. But if we are here to just look over small business advice non-ppp related its like a needle in a haystack right now. [link] [comments]  |
| PPP APPROVED - I AM CRYING ������ Posted: 30 Apr 2020 10:38 AM PDT I just got approved with PayPal I think But this afternoon I got approved and $6000 got deposited to my bank account. So forget the grant, finally I got some money to pay bills I can't believe it, I'm so frickin happy. So excited! Time to finally pay my bills and my business will now survive. Thank you PayPal! I hope you guys get the same response from anybody that approves you for the PPP. Now, back in business ! [link] [comments]  |
| Posted: 30 Apr 2020 07:50 PM PDT Congrats to all those who are getting approved and funded in 3 hours by Bluevine but it's gross that people who applied days and weeks earlier remain in limbo because of idiotic SBA policies that are serving new apps first. Bluevine and PayPal don't seem to care and are happy to keep submitting new apps. No one is telling us anything. No one is even trying to help us get answers. We don't know what's going on. We don't know if funds have been reserved for us. We don't know if we will get screwed. Can you believe it's Thursday and we are still in limbo since Monday. We did everything right. Submitted early for Round 2 only to get passed over for people who submitted yesterday and today. How do we get this in the news? This is a big deal. [link] [comments]  |
| Congress needs to pass law requiring the SBA to pay out the full $10K EIDL advance Posted: 30 Apr 2020 11:19 PM PDT That $1,000 per employee thing was straight-up bullshit [link] [comments]  |
| To those on the fence, I beg you, apply through Bluevine. Successful application in 12 hours. Posted: 30 Apr 2020 08:47 PM PDT Thank you to everyone on this forum who brought up Bluevine. I am so relieved right now. I know there are many threads like these but I thought I'd add my two cents too and urge anyone who hasn't yet to apply through Bluevine. My situation: sole prop with no employees, I run a staffing company. My timeline:
This has been an emotional roller coaster. I'm going to buy a non-Shake shack burger tomorrow to celebrate. [link] [comments]  |
| [NEWS] IRS: Companies who receive PPP loans will not qualify for tax deductions (4/30) Posted: 30 Apr 2020 06:30 PM PDT
The IRS on Thursday said any forgivable loans through the Paycheck Protection Program (PPP) won't be tax-deductible. Under the PPP, a small business loan program created as part of the third, $2.2 trillion coronavirus relief bill, small businesses wouldn't have to repay the low-interest loan they received as long as the loan went to essential expenses such as maintaining payroll. Usually, wages are deductible expenses and forgiven debt counts as taxable income. However, the IRS ruled that allowing the loans to be tax-deductible would create a "double tax benefit" for small businesses. To waive the deductions, the IRS invoked Section 256 of the tax code, which states that deductions can't be taken if they are tied to a certain class of tax-exempt income. If desired, Congress could override the IRS's stance by passing a law that explicitly allows the deductions. It has done so previously for religious leaders and military service members, allowing them to deduct property taxes and mortgage interest even if they're receiving tax-free housing allowances. [link] [comments]  |
| Chase came through with PPP... but I'm still leaving them Posted: 01 May 2020 01:54 AM PDT Applied for PPP on 4/9. Got approval 5/1. Full amount approved (but not yet funded. Email said within 3 days). But fuck them. They enabled businesses like Ruths Chris and Potbellys so as soon as I'm done using up all the funds I'll be leaving them for a local bank. For those of you that also get funded by the big banks I encourage you to do the same. [link] [comments]  |
| Posted: 30 Apr 2020 03:45 PM PDT 62500 approved, loan doc sent and signed. Wire is on the way. Applied 4/25, sent to sba on 4/28. Just in the last 15 min did all this go down. I am in a complete daze. Can't believe it. Good luck Everyone. A bit more info: EIDL For 52k was declined 2 weeks ago, 3k grant received on 4/14. LLC with 4 employees (in tech). Credit score is 556 (middle fico) [link] [comments]  |
| We have all a lot of money...probably our business and our lives...lets keep it cool.. Posted: 30 Apr 2020 06:53 PM PDT I know a lot of us have lost a lot...our money, our business which may or may not come back, our time...maybe we got sick or experienced a death within the community. There has been a lot of destruction without actual destruction. Before all this happened I was having a banner year and now its probably been the worst year. The international airport over here is looking like a FedEx hub and no longer like one which serves major airlines. Its really bad. No matter what, lets keep our cool and be civilized. Truly we are all in this together. Just remember when you talking and dealing with someone in these times they are victims too...its not just you in this. We all have lost something... [link] [comments]  |
| [NEWS] Justice Department sees early fraud signs in SBA loan flurry (5/1) Posted: 01 May 2020 04:51 AM PDT |
| Hey PayPal! We Know You’re in Here! Why Don’t You Try This Posted: 30 Apr 2020 08:16 PM PDT Composing an email with factual substance, regardless if you think that all of us laypeople won't understand your super secretive SBA PPP Processes. I mean, you ABRUPTLY blocked the real UW name and contact and changed the ENTIRE portal webpage with added explanations that were less than desirable AND tossed in bits of 3 stage old news verbiage when you realized that a bunch of people were snooping around the developer tools. If you have time to quickly rewrite some HTML, you surely can help us understand why so many people who applied 10 or more days ago are literally sitting with signed documents and watching people get funded that applied on Sunday night, Monday night, Tuesday night, Wednesday night... you get my drift. Meaningful words, with substance and honest information is the only appropriate action needed from PayPal. This is one of the most depressing and uncertain times in the history of the United States. A majority of us didn't have loans in the first place. We were SHUT DOWN. We remain shut down. Albeit, this is a government program we are trying to take advantage of, but you have had time to plan, adjust, rearrange and serve your customers. If we treated our members like this in our business, we would be put out of business. [link] [comments]  |
| One month passed, still nothing from EIDL Posted: 01 May 2020 04:43 AM PDT I submitted 3/30 my number is 33000**** I had my credit run almost 3 weeks ago. Single owner operator, I just want the $1k. What am I supposed to do at this point? [link] [comments]  |
| BLUEVINE approved within 30 minutes. Posted: 01 May 2020 02:17 AM PDT I saw all the approvals on reddit. I didnt apply for any PPP before because I knew there was a crazy backlog but since Illinois extended their lockdown until june1st I applied tonight and I was approved 30 min later by email. I docusigned and will recieve my 20k in a few days. I did upload my 1040 taxes but I doubt someone checked them at 3am? My credit score is 825 Im guessing they auto approve certain credit scores. My wife applied same time as me and hers is still under review but her credit is 710 range. I wish everyone luck and keep applying. Stay strong during this trying time. I hope my post can give some hope to anyone waiting. [link] [comments]  |
| Payroll changes as a result of PPP Posted: 01 May 2020 04:29 AM PDT Is anyone considering making changes to their payroll schedule? I currently issue paychecks on the 15th and 30/31st of each month, but because the SBA only offers loan forgiveness from 8 weeks starting the disbursement date, I'm wondering if it's better for me to switch to biweekly pay periods (or even weekly pay periods) starting today--my loan disbursement date? My payroll company (Gusto) generates a PPP Loan Forgiveness Report so you can run to ensure you're on track for loan forgiveness. I just checked it out to see what it'll look like, and it's only showing 3 paychecks for the 8-week period because the 4th paycheck is dated June 30th and the end of 8 weeks is June 26th. [link] [comments]  |
| [NEWS] JPMorgan received almost $18B for 220K PPP loan apps (4/29 8 PM) Posted: 30 Apr 2020 05:47 AM PDT EDIT 4/30: The author of the article changed the article title to replace the word received to "handled." The new article title reads, "JPMorgan says it has handled US$17.8 billion under emergency aid program". The original article title is in the link below.JPMorgan Chase & Co said in an email to small business clients late on Wednesday that it had submitted roughly 220,000 applications this week to the Small Business Administration for the Paycheck Protection Program. The average loan size was around US$81,000, and roughly half of the loan applications were filed by businesses with fewer than five employees, the bank said. About 80per cent of the applications were for amounts less than US$100,000 and about 40per cent were for less than US$25,000. [link] [comments]  |
| Posted: 01 May 2020 03:10 AM PDT Just checked my account, and I'm fully funded! Kabbage really came through for me. I had my doubts based on all of the negative posts about Kabbage, but they turned my application around quickly (applied for a PPP loan Tuesday PM; funded Friday AM). Here's my timeline if it helps anyone: 4/28 (3:45pm) - Applied to Kabbage 4/28 (3:50pm) - Kabbage submitted loan to SBA 4/30 (1:30am) - Kabbage notified me of SBA loan approval (dashboard said I needed government ID -I didn't- and that they would review my documents submitted) 4/30 (7:00am) - I created a Twitter account and DM'd Kabbage Inc asking about my loan docs; left all my business info in the DM and replied to one of their tweets 4/30 (12:10pm) - Signed PPP loan docs 4/30 (12:15pm) - Received notice of SBA loan confirmation, saying funds will be deposited by 5/7 5/1 (sometime prior to 2am) - ACH pending in business checking account I also applied to Bluevine shortly after Kabbage, received an immediate submission to SBA, and then a denial notice about an hour after Kabbage's approval. I applied to Cross River Bank directly and received another immediate submission to SBA; however, haven't heard anything from them since. Sent an email to them yesterday asking if I should withdraw my PPP application or if they'll merge it on their end because Cross River ended up being the lender for my Kabbage app. I also applied online through a local bank, but never heard anything from them. I called them yesterday and asked to withdraw the PPP application; she didn't hear me and said I should hear something within the next 2 weeks. I followed up with an email asking for the app to be withdrawn. And that's it, folks! Good luck! Thanks for all of your advice. Had it not been for this sub, I probably wouldn't have had sleepless nights and so much anxiety about Kabbage being the lender that secured the PPP approval. But in all seriousness, THANK YOU - had it not been for you, I wouldn't have ever known that I needed to Twitter DM Kabbage to get my loan docs moving. [link] [comments]  |
| Posted: 30 Apr 2020 11:51 PM PDT I wanted to share my experience getting the government assistance for my business. First off I've been trolling this subreddit and I finally made an account, because I cant thank everyone enough for sticking together and helping each other out in a time like this. We are a C-corp $795k annual revenue and 4 employees. Applied for EIDL Long form on 3/25 got approved, checked here and found out had to resubmit short form, did that and got the email to create an account after we logged in we found out we were eligible for 334k 4/10 and got the deposit 48 hours after. We got our Grant and EIDL Loan same time. Applied for Chase PPP (fuckin absolute nightmare) 4/7 and just got the email saying were approved for $49,993.00. I'm shaking cuz, like everyone else here. I've been pulling my hair every night. Checking this subreddit for updates and constantly looking for guidance. Thank you so much to everyone here and for anyone that hasn't heard anything, theres still hope! Good night and good luck to everyone! [link] [comments]  |
| PPP Approved!!! Finally I can breath a little!!! Posted: 30 Apr 2020 10:42 PM PDT Still dumping them in 2 months but at least they did something right after a month!!! Good news, your Small Business Administration (SBA) Paycheck Protection Program loan request was approved for $10,227.00. Chase will deposit your loan funds into your oldest Chase Business checking account within three business days. [link] [comments]  |
| Posted: 30 Apr 2020 11:11 PM PDT Didn't get the email, but my status in my Chase account informed me that I've been approved for PPP! A Huge THANK YOU to Reddit and all posters on here. I had never used Reddit before, but stumbled upon it through Twitter. I probably would never have even applied had it not been for the info I've found on these boards. Thanks to ALL and good luck to everyone going through this process!! (Now excuse me as I check my Chase account again to make sure I wasn't hallucinating....😳😳😳😳) [link] [comments]  |
| Posted: 01 May 2020 04:05 AM PDT For anyone else that is keeping track of this data: Absolutely no communication via phone, email, or regular mail from SBA or anyone else during the time between application and funding. Stay healthy and thanks to everyone that has contributed to this subreddit. It has been a great source of info/support during this crisis. [link] [comments]  |
| Just got approved for PPP from Chase Posted: 30 Apr 2020 10:07 PM PDT I've been one of the 220,000 applicants waiting to hear back from Chase on my PPP. I just received an email stating I was approved for the full amount and funds will be deposited in 3 days. I applied the first day Chase made the PPP available. I'm a single person LLC. Anyone else get the email? [link] [comments]  |
| Just got approved by Chase for PPP Posted: 01 May 2020 03:19 AM PDT Applied 4/6 Received the mass "application going to SBA" email a couple days ago Got approval at 2:51am this morning My email doesn't have an SBA Loan#, but lists the amount and says it will be deposited in 3 days. So relieved... [link] [comments]  |
| Posted: 30 Apr 2020 07:02 PM PDT Applied short form 04/04. Got the generic email 04/14. No credit checks or any calling or contact of any sort. Just hit my account right now. Stay strong guys! [link] [comments]  |
| Mama don't let your boy grow up to be a sole proprietor Posted: 30 Apr 2020 04:04 PM PDT I hope someone puts this whole post into the Smithsonian or someplace so future generations will know what it was like to try for the Great Government Giveaway of 2020! Soon we'll all probably pass from strokes and heart attacks - wearing our coronavirus masks [link] [comments]  |
| Has anyone else received zero benefits at all? Posted: 30 Apr 2020 11:43 AM PDT I believe I have applied for everything:
I never thought this would happen but I just applied for welfare in Minnesota. I wonder how long it will take to be evicted? Which family members should I bother for money? Is it time for a life of crime? [link] [comments]  |
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