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Old 03-26-2020, 09:25 AM  
Trivers Trivers is offline
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Join Date: Oct 2011
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Hey Small Business Owners...What are you doing to ride the storm out?
How are you handling HR issues?

Are you applying for SBA loans?
There are several types of loans. And new info is appearing daily.

Capital up to $10MM.
Up to 30 years to repay. Some actually are forgivable.
3.75 to 4%

https://disasterloan.sba.gov/ela/

https://www.inc.com/kevin-j-ryan/sma...incthismorning



My world: Everyone at the software companies are working remotely. The chocolate factory shut down yesterday due to not be considered an essential business. The chocolate elve had already left due to health concerns. I handle all the commercial rentals myself so no impact:

I don't intend to lay-off anybody...if this stretches into June or July...then we may look at cutting salaries by 25 to 50%. With the $1,200 everyone is getting already from the gov, and the 4 month unemployment (+$600/week additional), if we have to do layoffs, then the Team will not be totally without funds.

What are you doing to ride the storm out?
Last edited by Trivers; 04-02-2020 at 06:02 AM..
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Old 04-16-2020, 12:41 PM   #526
SAUTO SAUTO is offline
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Originally Posted by Mr. Plow View Post
I'm really curious about this. Is the property in Houston a place you lived or something?
Never lived anywhere but ks and mo...

****ing weird.
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Old 04-16-2020, 12:43 PM   #527
Mr. Plow Mr. Plow is offline
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Originally Posted by SAUTO View Post
Never lived anywhere but ks and mo...

****ing weird.


I know you are asking yourself the same questions - but how the **** does your name get on the deed for properties in FL, TX, & AL.
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Old 04-16-2020, 12:45 PM   #528
SAUTO SAUTO is offline
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Originally Posted by Mr. Plow View Post


I know you are asking yourself the same questions - but how the **** does your name get on the deed for properties in FL, TX, & AL.
And my “wife’s “ Is on at least one also. we have different last names of course. Been together almost 20 years but no papers lmao.


Waiting on an email from a title company in Houston. Waiting on calls back from 2 in Florida and one in Alabama.

couldn’t even leave a message on the 2 30 miles from me. Might just go drive by . Hell if it’s mine I can just go sit down in the living room, right?
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Old 04-16-2020, 12:58 PM   #529
O.city O.city is offline
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Sauto has been a slumlord for years and didn’t know it
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Old 04-16-2020, 01:01 PM   #530
notorious notorious is offline
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Someone stole your identity, invested in property and made you hundreds of thousands of dollars.......

I would still call Lifelock and yell at them.
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Old 04-16-2020, 01:03 PM   #531
SAUTO SAUTO is offline
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Originally Posted by notorious View Post
Someone stole your identity, invested in property and made you hundreds of thousands of dollars.......

I would still call Lifelock and yell at them.
Lol I’ll never get that lucky.

I probably owe a million dollars or something.
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Old 04-16-2020, 01:50 PM   #532
Mr. Plow Mr. Plow is offline
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And my “wife’s “ Is on at least one also. we have different last names of course. Been together almost 20 years but no papers lmao.


Waiting on an email from a title company in Houston. Waiting on calls back from 2 in Florida and one in Alabama.

couldn’t even leave a message on the 2 30 miles from me. Might just go drive by . Hell if it’s mine I can just go sit down in the living room, right?
You now have vacation homes in multiple locations. Better get on collecting all that past due rent.
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Old 04-16-2020, 02:16 PM   #533
dlphg9 dlphg9 is offline
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This really pisses me off with the loan funds. Independent contractors and the self employed got royally ****ed on this deal having to wait a whole god damn week longer than everyone else. I applied on Monday with Paypal, but it's been pending since then, so I guess im shit out of luck.
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Old 04-16-2020, 03:55 PM   #534
Perineum Ripper Perineum Ripper is online now
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Lol I’ll never get that lucky.

I probably owe a million dollars or something.


O, Buehler, Tim and I had some pretty sweet business opportunities pop up, and we want to thank you for your and your wife’s contributions.
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Old 04-16-2020, 04:18 PM   #535
Buehler445 Buehler445 is offline
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What I don't know (and what I don't think anyone knows right now) is if the taps are dry altogether or if they 'approved' funds have been earmarked already and as such, pulled from the pool even if they haven't been distributed yet.

So the question remains - if you're approved, is there still money earmarked for you that will get sent your way shortly? Or is approval largely an administrative measure and they now have to wait for the treasury to replenish the till before they can submit it?

I really couldn't tell ya.
My understanding is the money that gets funded is the banks. The "approvals" mean the bank will get paid that in like 60 days or something (my banker said 60 days. I laughed. Not my business). So IF you're approved and IF your bank allocated enough money you should get the money.

If you're wondering about forgiveness, I posted a blog post from Paul Neifer earlier that outlines it as best as I've seen.

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Originally Posted by SAUTO View Post
Well in other “sauto’s crazy ****ing life” news the argument at the bank also brought up that I supposedly own property in at least 4 other states.

So now I’m trying to figure out what the **** is going on.
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Originally Posted by SAUTO View Post
Well I assumed that also. First phone call to Houston seems like I might be wrong. My name and my significant other’s name is on the deed supposedly. Supposed to be e mailing me a copy of all the transfer papers.

Houston.
Alabama
Florida
Kansas

And 2 properties 30 miles from me.
Can I farm any of it?
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Old 04-16-2020, 04:26 PM   #536
MeaTy The Pimp MeaTy The Pimp is offline
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I already work from home so my job hasn't changed at all other than the rest of the staff in the office now also works from home. I work for Humana, so my job isn't going to go away anytime soon, so I am lucky there.

As for spare time, I have started making my own fishing lures. I don't know if I am going to try to sell them on the side yet, but for now, I am making wooden crankbaits. I may get into soft plastics later, but for now, I am only doing handmade and hand painted lures.

I have been watching a bunch of youtube videos (Marling Baits) and that kind inspired me to try it myself. Looks fun.
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Old 04-17-2020, 07:34 AM   #537
mililo4cpa mililo4cpa is offline
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Originally Posted by DJ's left nut View Post
What I don't know (and what I don't think anyone knows right now) is if the taps are dry altogether or if they 'approved' funds have been earmarked already and as such, pulled from the pool even if they haven't been distributed yet.

So the question remains - if you're approved, is there still money earmarked for you that will get sent your way shortly? Or is approval largely an administrative measure and they now have to wait for the treasury to replenish the till before they can submit it?

I really couldn't tell ya.
The way I understand it, and it's speculative at best, is that anyone who had an SBA app number will still get funded. so, in that regards it would be earmarked funds, not dispersed funds....

Have at least one clear-cut case of this yesterday with a client, and after much pushing, found out they will be getting funding.

One other separate but related note: many smaller banks have been taking longer to actually fund. Not sure the exact reasoning, but I've had instances where the small bank was waiting up to 10 days. Best guess is that it's internal bank dealings, maybe having to do with liquidity limitations, but again, that's a guess. I say this because I do think funds are ear-market rather than disbursed, so (while I never like to give false hope) their may still be possibility if your app was in early. I'm going back to every client and making certain that, if they had an SBA app approved, that they are communicating with their bank.

My company received our funding yesterday morning, but it wasn't easy. We go through PNC, and it took non-stop calls several times each day to get answers. But we signed the loan docs Wed, money there Thursday.....so, it was like two weeks of pure hell, then bang....there's the money. Small banks are seemingly the opposite: was relatively quick to get applications in, but many are slower to fund.....

P.S. next step would be a second go-round on PPP, which I thought would be the case a while back....but it's government, so who knows when something will actually happen.
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Old 04-17-2020, 09:04 AM   #538
SAUTO SAUTO is offline
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i'll say that my application was turned in tuesday and it was approved and funded yesterday or actually late wednesday.
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Old 04-17-2020, 09:28 AM   #539
Tylerthigpen!1! Tylerthigpen!1! is offline
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i'll say that my application was turned in tuesday and it was approved and funded yesterday or actually late wednesday.
Lurker here. Did you figure out what was going on with the properties? That is a crazy story.
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Old 04-17-2020, 10:32 AM   #540
Trivers Trivers is offline
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Originally Posted by mililo4cpa View Post
The way I understand it, and it's speculative at best, is that anyone who had an SBA app number will still get funded. so, in that regards it would be earmarked funds, not dispersed funds....

Have at least one clear-cut case of this yesterday with a client, and after much pushing, found out they will be getting funding.

One other separate but related note: many smaller banks have been taking longer to actually fund. Not sure the exact reasoning, but I've had instances where the small bank was waiting up to 10 days. Best guess is that it's internal bank dealings, maybe having to do with liquidity limitations, but again, that's a guess. I say this because I do think funds are ear-market rather than disbursed, so (while I never like to give false hope) their may still be possibility if your app was in early. I'm going back to every client and making certain that, if they had an SBA app approved, that they are communicating with their bank.

My company received our funding yesterday morning, but it wasn't easy. We go through PNC, and it took non-stop calls several times each day to get answers. But we signed the loan docs Wed, money there Thursday.....so, it was like two weeks of pure hell, then bang....there's the money. Small banks are seemingly the opposite: was relatively quick to get applications in, but many are slower to fund.....

P.S. next step would be a second go-round on PPP, which I thought would be the case a while back....but it's government, so who knows when something will actually happen.
Congrats!!

We are getting funded on Monday....10 days to the day for small CU
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