MD and SBA Relief Grants

[stgislander]

 

[Gilligan]

Well...I'll get mine....

 

[stgislander]

Well...I'll get mine....

What else is new?

 

[frequentflier]

My accountant is going to help me fill out the PPP application through PNC to help with payroll and rent, utilities today.
Wish me luck

 

[Scat]

And more good news, not....
https://www.politico.com/news/2020/04/06/small-business-loan-program-system-crashes-169614

 

[jazz lady]

Maryland Small Business COVID-19 Emergency Relief Loan Fund


NOTE: As of 5 p.m. on April 6, Commerce is no longer accepting new applications for its COVID-19 Relief Grant and Loan Programs. All applications that have been submitted are currently being reviewed in the order received. If you have already started an application in the program system, it must be completed and submitted by 5 p.m. on April 7, 2020 in order to be considered.

We are still offering the Maryland COVID-19 Emergency Relief Manufacturing Fund and encourage businesses throughout Maryland to continue exploring other forms of assistance, such as federal and local programs, including SBA’s Emergency Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP). For more information on federal resources, read the Small Business Owner’s guide to the CARES Act, or find more details from the U.S. Department of the Treasury.

Funding & Incentives Maryland Small Business COVID-19 Emergency Relief Loan Fund

commerce.maryland.gov

Maryland Small Business COVID-19 Emergency Relief Grant Fund


NOTE: As of 5 p.m. on April 6, Commerce is no longer accepting new applications for its COVID-19 Relief Grant and Loan Programs. All applications that have been submitted are currently being reviewed in the order received. If you have already started an application in the program system, it must be completed and submitted by 5 p.m. on April 7, 2020 in order to be considered.

We are still offering the Maryland COVID-19 Emergency Relief Manufacturing Fund and encourage businesses throughout Maryland to continue exploring other forms of assistance, such as federal and local programs, including SBA’s Emergency Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP). For more information on federal resources, read the Small Business Owner’s guide to the CARES Act, or find more details from the U.S. Department of the Treasury.

Funding & Incentives Maryland Small Business COVID-19 Emergency Relief Grant Fund

commerce.maryland.gov

 

[vraiblonde]

Small businesses won't see a dime of that money, but you better believe we'll get the bill for it.

We've applied for the MD grant and the federal grant over a week ago and it's still "in review". Our bank doesn't participate in the PPP, and the banks that do won't fund you if you don't have not only an account with them, but a prior lending history as well.

 

[Gilligan]

I have still not received notice from our business bank that they will start accepting and processing applications. We signed up on line last week to a waiting list notification.

What is particularly infuriating is watching the various DC clowns on TV patting themselves on the back over and over again for all the success they achieved in helping save small businesses. The reality is very different.

 

[PrchJrkr]

I have still not received notice from our business bank that they will start accepting and processing applications. We signed up on line last week to a waiting list notification.

My boss was telling his horror stories about the online application yesterday morning. He spent several hours fighting initialing the conditions and acceptance of the digital signature. He's no stranger to IT having worked in the Naval contracting business for 20+ years, but then he was tripped up by something as simple as just typing "ABC" for acknowledgement and acceptance of the terms. Leave it to the government to make easy money difficult.

 

[frequentflier]

My boss was telling his horror stories about the online application yesterday morning. He spent several hours fighting initialing the conditions and acceptance of the digital signature. He's no stranger to IT having worked in the Naval contracting business for 20+ years, but then he was tripped up by something as simple as just typing "ABC" for acknowledgement and acceptance of the terms. Leave it to the government to make easy money difficult.

My accountant has helped several other small businesses navigate through the application process and will help me finish it up today. I am technically challenged and he remotely logged into my computer yesterday to make folders of everything they are requesting.

 

[Gilligan]

My accountant has helped several other small businesses navigate through the application process and will help me finish it up today. I am technically challenged and he remotely logged into my computer yesterday to make folders of everything they are requesting.

That's one of the complaints I've seen in various news pieces covering the developing debacle...that they are requiring far more information, much of it irrelevant to many businesses like mine, to be included in the application. We don't have daily, weekly or, often, even monthly income. We do not even own a cash register...much less have register receipts. We operate entirely on the accrual basis.

I got a bad feeling about this....our round peg is not gonna fit in their square hole.

 

[Scat]

That's one of the complaints I've seen in various news pieces covering the developing debacle...that they are requiring far more information, much of it irrelevant to many businesses like mine, to be included in the application. We don't have daily, weekly or, often, even monthly income. We do not even own a cash register...much less have register receipts. We operate entirely on the accrual basis.

I got a bad feeling about this....our round peg is not gonna fit in their square hole.

What better opportunity to collect “irrelevant data” that can be analyzed and used against us later. They even get it all with permission to use however they see fit.

 

[Gilligan]

What better opportunity to collect “irrelevant data” that can be analyzed and used against us later. They even get it all with permission to use however they see fit.

I'm not sure I follow that.. All that data is made available to the IRS by default...every single year.

 

[vraiblonde]

I know a number of small business owners who've applied for both the state and federal grants; to date none of them have been contacted.

 

[Gilligan]

More talking heads on the news this mornng, proclaiming loudly how much money has been distributed already and what a great relief it's been for small businesses.

Meanwhile, here in Reality Land, there is the daily auto-generated email from my business bank:

​

Since we launched the alerts form last week, we’ve received tens of thousands of registrations. Please know that we’re responding to every client in the order in which they registered for alerts. Your registration is still active, and you maintain your place in the queue. Our commitment is to keep you posted along the way and as new information becomes available. We know you’re eager to hear from us on next steps, and we appreciate your patience. Your Truist Team​

 

[Gilligan]

Has anyone heard of anyone actually receiving one of the 10K Emergency grants from MD or the Feds? Anyone heard of anyone that has received a PPP loan/grant? ...an EIDL loan?....anything???

 

[black dog]

On local Fox news here it was said some local businesses were seeing this money arriving but what was arriving was a thousand dollars per employee for businesses with under 10 employees. Two businesses had received money and one stated theirs was "pending"

 

[Gilligan]

...t what was arriving was a thousand dollars per employee for businesses with under 10 employees. T.

That must be a state grant?...the SBA PPP isn't like that. With the PPP, we're supposed to received an amount that is 2.5 times your average monthly payroll (based on 12 months preceding the "official start date" of the pandemic which they put at Jan 30, 2020.

The MD assistance grants were very vaguely defined and a maximum of 10K. I don't know how much anyone actually received because I've never heard of anyone actually receiving one.

Not that it matters....my bank has not even gotten to my place on their waiting list to even put the PPP application in.

 

[Chris0nllyn]

Has anyone heard of anyone actually receiving one of the 10K Emergency grants from MD or the Feds? Anyone heard of anyone that has received a PPP loan/grant? ...an EIDL loan?....anything???

NBC News had Gaithersburg Crossfit on and he said he was pretty sure he is getting the PPP loan/grant.

It's been over a week since my wife's PPP submittal. They asked her accountant for some follow-up info, but hoping we get an answer soon.

Likely going to be utilizing the changes in 401(k) with the CARES Act to some degree.

 

[black dog]

That must be a state grant?...the SBA PPP isn't like that. With the PPP, we're supposed to received an amount that is 2.5 times your average monthly payroll (based on 12 months preceding the "official start date" of the pandemic which they put at Jan 30, 2020.

The MD assistance grants were very vaguely defined and a maximum of 10K. I don't know how much anyone actually received because I've never heard of anyone actually receiving one.

Not that it matters....my bank has not even gotten to my place on their waiting list to even put the PPP application in.

It very well could be a state grant, I haven't kept up other than what you have posted here and what little I have watched the news the last few weeks.
The factorys here that are working, are working at an insane pace, we are doing more Millwright / sanitary pipe work now than ever.
I don't see many days off for us until sept.. I'm 62 this aug, I am contemplating getting out this fall..