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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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03-31-2020, 06:34 PM | #196 |
Shit
Join Date: Jun 2008
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Posts: 55,715
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03-31-2020, 06:46 PM | #197 |
Always ask 'Why?"
Join Date: Oct 2011
Location: Two Rivers, Wisconsin
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Posts: 2,961
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03-31-2020, 07:06 PM | #198 |
The Beast Inside Your Head
Join Date: Jul 2006
Location: Parts Unknown
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Seems like a good place to ask
I have a renter that owes me $2500. They also have a lien against them by our local hospital. Will the stimulus money make it to my renter or will that get intercepted by the lien holder like a tax refund would? |
Posts: 26,019
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03-31-2020, 11:52 PM | #199 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
Either way, banker recommended I wait until It is hashed out a little bit more at the end of the week. Is that dumb or should I go ahead and apply through the website? |
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Posts: 57,702
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03-31-2020, 11:58 PM | #200 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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This outfit says there has to be a 50% revenue decrease in the applicable quarter. That will certainly be applicable to some of you guys but it may boot me out. I gotta look at some numbers. I’m not sure I took in any revenue in Q2 2019.
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Posts: 57,702
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04-01-2020, 05:55 AM | #201 | |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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Quote:
https://home.treasury.gov/system/fil...ontent=Special |
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Posts: 3,231
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04-01-2020, 05:58 AM | #202 |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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Posts: 3,231
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04-01-2020, 06:12 AM | #203 |
Supporter
Join Date: Jun 2002
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You're not referring to the PPP, are you? I don't see that requirement listed anywhere.
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Posts: 2,072
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04-01-2020, 06:55 AM | #204 |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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That is not a requirement for the PPP....the goal of PPP is to not have to lay people off, hence the loan forgiveness if you maintain your headcount and payroll spend....
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Posts: 3,231
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04-01-2020, 06:58 AM | #205 | |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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04-01-2020, 06:59 AM | #206 |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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and if anyone is so inclined, here's what the SBA is giving to the banks:
https://home.treasury.gov/system/fil...ontent=Special |
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04-01-2020, 07:03 AM | #207 |
Supporter
Join Date: Jun 2002
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Posts: 2,072
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04-01-2020, 07:24 AM | #208 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Yeah. So I’m an idiot. Apparently I need to quit reading technical shit at night.
I forgot to post the blog that I was reading. It’s here. https://blogs.claconnect.com/agribus...ll-tax-credit/ But it’s talking about the refundable payroll taxes. That’s seems of far less importance than the PPP loan at the moment. Thanks for the help guys. |
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04-01-2020, 07:34 AM | #209 | |
In Search of a Life
Join Date: Dec 2005
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04-01-2020, 07:37 AM | #210 | |
Veteran
Join Date: Apr 2002
Location: Jupiter, FL.
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Quote:
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