Hank
my war
Ok. Just throwing it out there.
MD and SBA Relief Grants
- Thread starter Gilligan
- Start date
Ok. Just throwing it out there.
Facts is facts., but as I mentioned in a previous post, I learned from an old accountant friend that PayPal is processing them...so I’ll be looking at that this week
Hank
my war
Same
Well..how about that. My application for the 10K EIDL advance "loan" was put in on 4 April and just yielded fruit. I'd already heard that SBA was only awarding 1K per employee, up to the maximum of 10K, so was not surprised to see we got 3K since I'd put down that we have (had) 3 FT employees at the moment.
I am surprised we got anything at all. I've given up on applying for the PPP, even though I learned about several non-bank options that were working really well for a lot of people. It's too late for that....my folks are laid off now, and the available money will be gone today or tomorrow anyway.
I am surprised we got anything at all. I've given up on applying for the PPP, even though I learned about several non-bank options that were working really well for a lot of people. It's too late for that....my folks are laid off now, and the available money will be gone today or tomorrow anyway.
Chris0nllyn
Well-Known Member
Wife's PPP is being processed. Fingers crossed.
Did she receive an SBA account number yet? What I've seen posted says that once you have that, you will get the loan money.
I just heard this morning that our church was approved for PPP. I'm not sure what institution they went through.
frequentflier
happy to be living
My store received the EIDL money today 
It will help with the rent and payroll.
It will help with the rent and payroll.
frequentflier
happy to be living
Please don't hate...
Received a call from PNC and my PPP loan was approved. My CPA advised I make a folder and keep track of all payroll (hooray- I can pay myself again!), rent and utilities for the 60 day period once it is deposited and then I will give back what I haven't used. He is going to look and see if it is acceptable to give bonuses with this money because the one full time and one part time co workers deserve them. (I have given the full time lady cash bonuses out of my pocket- I could not be doing this w/o her!)
Received a call from PNC and my PPP loan was approved. My CPA advised I make a folder and keep track of all payroll (hooray- I can pay myself again!), rent and utilities for the 60 day period once it is deposited and then I will give back what I haven't used. He is going to look and see if it is acceptable to give bonuses with this money because the one full time and one part time co workers deserve them. (I have given the full time lady cash bonuses out of my pocket- I could not be doing this w/o her!)
I am FAR from good with finances, but I caution you to follow the "conditions" of this PPP to the letter. The government has a way of screwing things up and I would hate to see this come back and bite you. You've been through a lot more than most folks would have even considered to keep your business going. I'm glad that all your angst over this has finally received a reprieve.
Chris0nllyn
Well-Known Member
I am FAR from good with finances, but I caution you to follow the "conditions" of this PPP to the letter. The government has a way of screwing things up and I would hate to see this come back and bite you. You've been through a lot more than most folks would have even considered to keep your business going. I'm glad that all your angst over this has finally received a reprieve.
That, and they've changed the PPP conditions multiple times since rolling it out.
I saw a news bit about some banks lobbying Congress to allow them to forgive all PPP loans under 150K. I can easily see why..they don't want the massive headache of dealing with millions of forgiveness applications and all the financial records attached to those.
That would be nice...although our loan was pretty small. We're officially re-opening 15 June, so I we survived another mess.
That would be nice...although our loan was pretty small. We're officially re-opening 15 June, so I we survived another mess.