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03-26-2020, 09:25 AM | |
Always ask 'Why?"
Join Date: Oct 2011
Location: Two Rivers, Wisconsin
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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.. |
Posts: 2,961
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04-16-2020, 10:34 AM | #496 | |
Veteran
Join Date: Oct 2013
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Quote:
I've had my application in since April 4th, yet to receive any sort of final confirmation from my bank that I've been approved. Uploaded requested documents over a week ago and radio silence since them. Hoping the money gets restocked. |
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Posts: 1,232
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04-16-2020, 10:36 AM | #497 | |
Colorado Chief Fan
Join Date: Feb 2006
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Quote:
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Posts: 5,589
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04-16-2020, 10:36 AM | #498 |
The Lurkiest
Join Date: Aug 2000
Location: Boise,ID
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Accurate, tried to submit this morning and they are no longer accepting applications
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Posts: 1,945
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04-16-2020, 10:42 AM | #499 | |
In Search of a Life
Join Date: Dec 2005
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Posts: 31,180
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04-16-2020, 10:43 AM | #500 | |
In Search of a Life
Join Date: Dec 2005
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Quote:
Don't give up yet. Hopefully they'll get something passed to get more money in it. |
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Posts: 31,180
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04-16-2020, 10:57 AM | #501 | |
In Search of a Life
Join Date: Jul 2009
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Quote:
It sucks that iI coudln't get it for my other office, but the girls there are doing what they can and have to. I'm working there some seeing emergencies so i've resorted to paying them what i can when i can but they're doing the unemployment thing. |
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Posts: 82,344
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04-16-2020, 11:09 AM | #502 | |
Sauntering Vaguely Downwards
Join Date: Sep 2005
Location: Columbia, Mo
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Quote:
We've done some minor miracle shit on this thing. Some excellent work in many ways by us, but in a lot of ways we had excellent business partners that have come through in a big way. |
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Posts: 62,497
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04-16-2020, 11:11 AM | #503 |
Shit
Join Date: Jun 2008
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Well mine got approved today.
Long story as to why it took so long. But I always seem to have crazy shit happen to me. Like the craziest. |
Posts: 55,715
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04-16-2020, 11:17 AM | #504 | |
Sauntering Vaguely Downwards
Join Date: Sep 2005
Location: Columbia, Mo
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Quote:
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. |
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Posts: 62,497
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04-16-2020, 11:21 AM | #505 | |
Shit
Join Date: Jun 2008
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Quote:
I hope she was right on that. |
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Posts: 55,715
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04-16-2020, 11:22 AM | #506 | |
In Search of a Life
Join Date: Dec 2005
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Quote:
My other option is to just run things as normal and then transfer the amounts needed into my regular account to cover those expenses. At least I would be able to say "Ok, I paid my electric bill for $1,000 out of my normal account and then I transferred $1,000 out of the PPP account to cover." Hopefully the 2nd option will suffice because I don't want to through all the hassle of changing the auto withdrawals for all the utilities and then changing them back in a couple months. |
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Posts: 31,180
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04-16-2020, 11:27 AM | #507 | |
Sauntering Vaguely Downwards
Join Date: Sep 2005
Location: Columbia, Mo
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Quote:
We were going to be able to point to a specific dollar in, dollar out transaction rather than trying to do a large transfer to cover several 'forgiveable' expenses. It's all a wild-ass guess anyway but if you think something makes sense...it probably does. |
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Posts: 62,497
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04-16-2020, 11:28 AM | #508 |
Shit
Join Date: Jun 2008
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I would think that is a good plan plow. Should be easy to account for it that way
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Posts: 55,715
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04-16-2020, 11:28 AM | #509 |
Sauntering Vaguely Downwards
Join Date: Sep 2005
Location: Columbia, Mo
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Posts: 62,497
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04-16-2020, 11:30 AM | #510 |
Colorado Chief Fan
Join Date: Feb 2006
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Posts: 5,589
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