EIDL - Good News. 4,591 loans approved in one day. Movement is finally happening. small business |
- EIDL - Good News. 4,591 loans approved in one day. Movement is finally happening.
- EIDL Funded - My Timeline
- Eidl
- Single Owner C-Corp PPP Loan Forgiveness (I'm a 1099 Contractor)
- Independent Contractor - PPP Loan Forgiveness Help.
- When does funding come after you sign closing documents?
- Awww yiss!!! PPP
- PPP Bookkeeping
- EIDL app numbers processing order
- Holy Shit They Sent Me A Portal Email
- EIDL Advance Will be Deducted From Forgivable Portion of PPP
- No more EIDL Advances?
- PPP funded! Lendio/Ready
- Questions about the PPP loan I Need Help!!
- EIDL portal tonight, the amount is for more than we need though
- EIDL Portal invite received, then messed up on one of the identity verification questions!
- PPP loans not correlated with Unemployment numbers
- Need a copywriter for your business startup?
- PPP - Let's take a moment to acknowledge the lenders who were our personal heros and villains during this whole saga.
- Signed the bank of america PPP promissory note but no funds deposited yet
- I got the portal today and never spoke with a tier two rep!
- Want to return PPP loan to square
- Does the SBA report your loan to credit agencies..
- DoJ Charges 2 Men In First Fraud Case Tied To Small Business Bailout Program
- NYS UI/PUA/PUC Another random $600
| EIDL - Good News. 4,591 loans approved in one day. Movement is finally happening. Posted: 05 May 2020 09:41 AM PDT I've been watching e-tran. Yesterday approval totals were 42,146. Today they stand at 46,737. Big jump from only less than 100 a day prior. Edit: 50,059 approvals 5/6 Edit: omg, RIP my inbox. Lol. Happy to try and help but it takes me a bit to get to everyone. [link] [comments]  |
| Posted: 05 May 2020 10:13 PM PDT
[link] [comments]  |
| Posted: 06 May 2020 03:44 AM PDT Applied 3/30 . Credit pull 4/13 . And I haven't heard anything since . Called tier 2 rep several times . All of my info is on point but no progress. no advance, no loan . I've notice everyone else who applied before and after me that has recieved their advance aside from myself. What's going on? [link] [comments]  |
| Single Owner C-Corp PPP Loan Forgiveness (I'm a 1099 Contractor) Posted: 06 May 2020 03:57 AM PDT I'm happy to report that my PPP loan for $5100 was finally approved and the funds should be arriving any day. I'm a single owner, no employees, C-Corp, web and marketing company. I pay myself as a 1099, but I read an article that the PPP loan cannot be used to pay contractors for forgiveness (which wouldn't make sense, because the loan was approved for self-employed contractors like myself). Can someone please clarify my forgiveness options? Thank you [link] [comments]  |
| Independent Contractor - PPP Loan Forgiveness Help. Posted: 05 May 2020 09:25 PM PDT So I received the PPP loan from PayPal like one week ago. I'm a independent contractor (ya know that side hustle life). Is it possible to write checks to another checking account (from personal checking 1 to personal checking 2)and count them as "payroll" then when the SBA wants documents about the loan forgiveness I just give them my "personal checking 1" to show them I technically used 75% of the loan to "pay myself"? Or how does this actually affect me ? I've seen articles but it doesn't seem to guide me correctly to this. PS: I stopped asking for $600 PUA after the PPP [link] [comments]  |
| When does funding come after you sign closing documents? Posted: 06 May 2020 04:10 AM PDT I FINALLY got my documents yesterday for my EIDL loan. When does funding come? I see some that say they signed yesterday and got it today. [link] [comments]  |
| Posted: 05 May 2020 11:04 PM PDT |
| Posted: 06 May 2020 01:23 AM PDT How do you plan to track PPP spending in order to make it easy to report for forgiveness purposes? I thought about transferring funds to a newly created separate checking account, but am reconsidering, since most of our expenses are set to automatically deduct from our existing account — seems easiest to leave as is. I've seen folks talk about tracking payroll and related spending in a separate account in QuickBooks, which seems like the right thing to do, but is it possible to do that without a separate checking account? Would love to hear how y'all plan on tackling this. [link] [comments]  |
| EIDL app numbers processing order Posted: 06 May 2020 01:16 AM PDT So after seeing some with an app number of 360000XXXX get approved, while being currently app number 330353XXXX, it appears they've already went through these set and the silence I got basically means overlooked/denied. If overlooked should I apply again, or is it a total loss now? I suppose applicants who applied on April 10th are dead out of luck from the start and maybe could apply again to have a chance. maybe. [link] [comments]  |
| Holy Shit They Sent Me A Portal Email Posted: 05 May 2020 05:06 PM PDT I can't fucking believe it. At this rate, eventually I will owe someone an apology. Long Form: 3/27 Short Form: 3/29 (App #33000092XX) Credit Check: 4/12 Grant: 4/13 Portal: 5/5 Closing Docs: ??? I wonder how long it will take to see closing documents and eventually get funded from this point? [link] [comments]  |
| EIDL Advance Will be Deducted From Forgivable Portion of PPP Posted: 05 May 2020 10:10 PM PDT I'm sure this is something that many people are already aware of, but with an increasing number of us receiving EIDL advances and PPP loans it bears repeating: if you receive an EIDL advance and a PPP loan the EIDL advance will be deducted from the forgivable portion of the PPP. Here is the language verbatim from the SBA portion of the PPP closing documents:
When applying for the PPP you're supposed to report any EIDL advance on the application, but obviously most of us had not received an EIDL advance at that point. On my closing documents, that EIDL advance line is $0. However, if you later receive the EIDL advance (as I did) I think you can be certain that amount will be subtracted from the forgivable portion of the PPP. Personally, I'm putting the EIDL advance and the PPP in a dedicated account. The PPP will go towards payroll over the next 8 weeks, and the EIDL advance amount will be used to pay the expected non-forgiven portion of the PPP. This is something that I didn't fully realize until I signed those PPP closing docs. Don't treat the EIDL advance as free money if you are also receiving a PPP loan, it's not! [link] [comments]  |
| Posted: 05 May 2020 08:08 PM PDT So, I have seen a lot of people get the portal invite today that mentioned they did not ever receive the grant. And I have seen people get the advance today but no portal invite. Can anyone make sense of that? [link] [comments]  |
| Posted: 06 May 2020 02:54 AM PDT Finally after a hard 3-4 weeks of stressing and a bunch of bitching i got my PPP loan. It was for 42k and my timeline looks like everyone else's that was the common timeline. Im in shock and i want to cry. There is light i hope everyone else gets theirs that need it too! Moving all my accounts to a local bank asap. Wells Fargo can rot in hell. [link] [comments]  |
| Questions about the PPP loan I Need Help!! Posted: 06 May 2020 02:14 AM PDT The restaurant I work for is opening in a few days since they got the PPP loan. Customers won't be able to enter the building and will only be able to drive up to pick up takeout food. They made a schedule for all the employees so that everyone would get paid. Problem is that all the Servers, Bartender, and Managers get tips which account for 80% of their pay. For the last month or so they've been on unemployment and receiving the additional $600 a week so they are getting most if not all bills payed while weathering the storm. Direction from the company is that people need to take their new schedule and work, which in turn would make them uneligable for unemployment benefits and they would not be rehired once the restaurant it back open 100%. Since the servers and bartender only make $8.25 and hour, after taxes and benefits, they are only going to be taking home around $200 since they won't have much of an opportunity to make tips. The business could run smoothly with curbside pickup only on 1/3 of the staff since the schedule is made for a dine in bar and restaurant. My questions to the director (to which I was told neither were possible) were. Could we run with a reasonably staffed building while paying the employees and hourly wage that would atleast be close to their normal wage and would also the same $$ amount going to payroll (since that's a stipulation to PPP). I was told they were not allowed to give out any raises at all. Second question was if everyone can only come back at $8.25/hr can we let them stay home on one or two of their scheduled shifts? Their literally isn't anything for 1/2 the staff to do for the entire day. No customers are even allowed in the building at all and we have 3 dishwashers working a day lol. [link] [comments]  |
| EIDL portal tonight, the amount is for more than we need though Posted: 05 May 2020 07:43 PM PDT Applied end of march, credit pull mid april, portal today. Looks like we can get $150k if we wanted too. At the time of applying we weren't effected by the virus yet but we knew it would only be a matter of time so we applied. Better to get in compared to them running out of funds, no money left and leaving us with no options. A lot of our customers are businesses who have been for the most part holding on for a bit but some are starting to go under or not have money to pay their bills. So just as predicted we are starting to feel the virus this month. I think this will get worse for us come June, July and august. Which is where we will get hurt the most. Residential customers have already starting to effect us as some are out of work and still can't collect unemployment due to the backlog. Anyway, we figured $75 or $80k would be great for operating expenses for may-august. That along side of our company funds would do us just fine. But our accountant is telling us take the full amount. What if this is still going strong in september or october or even December. Better to have the funds in the bank then run out of money. Is everyone just taking the full amount offered? Is adjusting the slider down ok to do or will that delay the loan process? If things do get better in September or so and we took the full amount is there any penalty for paying the loan off early? Say January of next year or even next may? There is nothing stating you have to go the full 30 years is that right? If we cut that loan amount in half will that give another business or two a loan that might not have been able to get one due to lack of funds? [link] [comments]  |
| EIDL Portal invite received, then messed up on one of the identity verification questions! Posted: 06 May 2020 05:22 AM PDT Anyone else answer one of the verification questions wrong? I'm not sure which question I answered wrong, but it said something like, "Unable to verify identity. Don't worry, you can still continue the loan process." So I assume I'll have to try again at some point over the phone with an agent. But curious if anyone else has done this and got to the next step? [link] [comments]  |
| PPP loans not correlated with Unemployment numbers Posted: 06 May 2020 05:13 AM PDT New York Fed finds no relationship between economic hardship and PPP loans https://pbs.twimg.com/media/EXVTKPrUcAItPhz?format=jpg&name=medium [link] [comments]  |
| Need a copywriter for your business startup? Posted: 06 May 2020 05:07 AM PDT Hi everyone! My name is Desray Posthumus, I am a freelance writer of 3 years and I'm currently studying for my BA English degree. I believe that any good business has a great presence online and has a unique voice. And how better to promote yourself than through words? I'm a professional copywriter of three years. I have the ability to create SEO friendly content for absolutely any website or business. I have a fast turnaround time, I'm reliable and I'm dedicated. I have tons of writing samples. Contact me if you're interested! [link] [comments]  |
| Posted: 05 May 2020 10:54 AM PDT For me Hero: BlueVine. Well done and fast. Villains: Lendio/Ready Capital. Dropped me at the 11th hour. Known to have screwed over a lot of people. Who were your heros and villains? [link] [comments]  |
| Signed the bank of america PPP promissory note but no funds deposited yet Posted: 06 May 2020 04:56 AM PDT I signed the promissory note from the "You're one step away from receiving Paycheck Protection Program funds." email. 3 days ago. It said it would take 1 to 2 business days for funds to be deposited. Has it taken this long for anyone else? Also I was never given a SBA loan # and from what I've been reading, I should of gotten that before signing the note. [link] [comments]  |
| I got the portal today and never spoke with a tier two rep! Posted: 06 May 2020 04:53 AM PDT I had an early application number 330001XXXX, applied 3/29, got a 1K advance on 4/14 but zero emails. Felt kind of foolish not calling and doing what everyone suggested but it came through today! The info I think most people will be interested in, is I was offered a 150K loan, which is less than expected, so whoever said that is the new cap is correct. Keep faith! Thank you SBA! [link] [comments]  |
| Want to return PPP loan to square Posted: 06 May 2020 04:52 AM PDT How can I do that? I understand that if I return it by today I don't have to pay interest on it. [link] [comments]  |
| Does the SBA report your loan to credit agencies.. Posted: 06 May 2020 04:48 AM PDT I received one of my loans EIDL , I know we do not need to make payments for a year or so, but I will be starting to make payments next month. Do they report the loan to TU, EX, EQU.? after the hard hit on my report that would really help [link] [comments]  |
| DoJ Charges 2 Men In First Fraud Case Tied To Small Business Bailout Program Posted: 05 May 2020 02:50 PM PDT It's funny, when Mnuchin promised to punish anybody trying to defraud the small-business relief program, we thought he would be focusing on large corporations attempting to drain tens if not hundreds of millions of dollars from the pool, not two small business owners in Rhode Island. [link] [comments]  |
| NYS UI/PUA/PUC Another random $600 Posted: 06 May 2020 12:52 AM PDT Just got another random $600 deposited into my account. The first one was on 4/24. Anyone else? I haven't received anything else from the UI/PUA. Still "Pending" $0, even though I've certified every week since March. Also got my stimulus check this morning too ;) Now if only I could get that elusive EIDL portal. [link] [comments]  |
| You are subscribed to email updates from smallbusiness: Questions about starting, owning and growing a small business. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment