|
03-26-2020, 09:25 AM | |
Always ask 'Why?"
Join Date: Oct 2011
Location: Two Rivers, Wisconsin
|
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: 2,967
|
04-16-2020, 12:41 PM | #526 |
Shit
Join Date: Jun 2008
|
|
Posts: 55,715
|
04-16-2020, 12:43 PM | #527 |
In Search of a Life
Join Date: Dec 2005
|
|
Posts: 31,250
|
04-16-2020, 12:45 PM | #528 | |
Shit
Join Date: Jun 2008
|
Quote:
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? |
|
Posts: 55,715
|
04-16-2020, 12:58 PM | #529 |
In Search of a Life
Join Date: Jul 2009
|
Sauto has been a slumlord for years and didn’t know it
|
Posts: 82,768
|
04-16-2020, 01:01 PM | #530 |
Supporter
Join Date: May 2005
Location: Who knows?
|
Someone stole your identity, invested in property and made you hundreds of thousands of dollars.......
I would still call Lifelock and yell at them. |
Posts: 85,854
|
04-16-2020, 01:03 PM | #531 |
Shit
Join Date: Jun 2008
|
|
Posts: 55,715
|
04-16-2020, 01:50 PM | #532 | |
In Search of a Life
Join Date: Dec 2005
|
Quote:
|
|
Posts: 31,250
|
04-16-2020, 02:16 PM | #533 |
MVP
Join Date: Oct 2010
|
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.
|
Posts: 18,674
|
04-16-2020, 03:55 PM | #534 |
Supporter
Join Date: Jan 2014
Location: Missouri
|
|
Posts: 5,255
|
04-16-2020, 04:18 PM | #535 | |||
Supporter
Join Date: Apr 2007
Location: Scott City KS
|
Quote:
If you're wondering about forgiveness, I posted a blog post from Paul Neifer earlier that outlines it as best as I've seen. Quote:
Quote:
|
|||
Posts: 57,981
|
04-16-2020, 04:26 PM | #536 |
Who's the masta???
Join Date: Nov 2003
Location: Louisville Ky
|
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. |
Posts: 681
|
1 0 |
04-17-2020, 07:34 AM | #537 | |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
|
Quote:
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. |
|
Posts: 3,231
|
1 0 |
04-17-2020, 09:04 AM | #538 |
Shit
Join Date: Jun 2008
|
i'll say that my application was turned in tuesday and it was approved and funded yesterday or actually late wednesday.
|
Posts: 55,715
|
1 0 |
04-17-2020, 09:28 AM | #539 |
Starter
Join Date: Feb 2009
Location: Arkansas
|
|
Posts: 831
|
04-17-2020, 10:32 AM | #540 | |
Always ask 'Why?"
Join Date: Oct 2011
Location: Two Rivers, Wisconsin
|
Quote:
We are getting funded on Monday....10 days to the day for small CU |
|
Posts: 2,967
|
|
|