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03-27-2020, 11:12 AM | #2 |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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03-27-2020, 11:15 AM | #3 | |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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Quote:
OK...figured this out....sorry, I'm a noob.... |
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03-27-2020, 11:22 AM | #4 |
In Search of a Life
Join Date: Dec 2005
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03-27-2020, 11:30 AM | #5 |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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Thanks for yours as well. Any info on this is good stuff.
....the .pdf I attached references Congress.gov, but I've yet to seen any summary like the .pdf. I'd assume UBS put that together, but then I'd guess they'd put a legal disclaimer in it as well, which they don't.... I also still think that there are lots of details remaining to hash, and I'd bet 2 months before money starts flowing.... |
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03-27-2020, 11:09 AM | #6 |
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Join Date: Jan 2017
Location: Orlando, FL
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OK...a little clarification on CARES in regards to the SBA EIDL. It appears that there are multiple "phases" to the SBA relief. Phase two is the EIDL, Phase three (at least in regards to small businesses) is the Small Business Interruption Loans. Phase II and III are different programs all together, but participating in Phase II MAY make the borrower ineligible for Phase III.
I'm getting this from a bank document outlining the provisions. I'm going to vet this further, and if I can get a good link, I'll post this.... |
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03-27-2020, 11:32 AM | #7 |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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Just got this from my legal counsel....it's a multi-state CoronaVirus policy tracker....
I could have used this about 2 weeks ago! https://www.multistate.us/pages/covid-19-policy-tracker |
Posts: 3,230
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03-27-2020, 11:37 AM | #8 |
Veteran
Join Date: Jan 2017
Location: Orlando, FL
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Also, information from various state chambers of commerce. Not certain how useful as of now, likely some good nuggets
https://www.statechambers.org/cv |
Posts: 3,230
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03-27-2020, 11:39 AM | #9 |
The Constitutional Choo choo
Join Date: Dec 2009
Location: homeof43conferencetitles
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2nd day back at work. Just the 3 of us out here working on this new house.
Bought a used Colman 3 burner stove the other day. So were cooking here on site rather than running into town and eating at a fastfood joint.. We're on the banks of the Elkhorn river. Its beautiful out here. And quiet. So quiet and peaceful. You'd never know we are in the grips of a pandemic. Gods Speed people. |
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03-27-2020, 11:47 AM | #10 |
SuperChiefs
Join Date: Sep 2006
Location: Florida
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With the nature of ous business, we're used to having lulls and thankfully have enough saved up to get us through the next 4 months. We're just hunkered down and praying that things get back to normal soon
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03-27-2020, 11:59 AM | #11 |
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Join Date: Jan 2017
Location: Orlando, FL
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I haven't read this in entirety, but so far, this is very good read regarding the SBA Loan (which I will now refer to Payroll Protection Program or "PPP")
https://www.kelleydrye.com/News-Events/Publications/Client-Advisories/Federal-Relief-Package-Includes-$350-Billion-for-S |
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03-27-2020, 12:20 PM | #12 |
In Search of a Life
Join Date: Jul 2009
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So should I go ahead and fill out the application now? This is confusing
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03-27-2020, 12:22 PM | #13 |
In Search of a Life
Join Date: Dec 2005
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I'm waiting until the bill passes to see exactly what it is and what I need to do. I'd rather try to apply for the one that at least a portion doesn't have to be repaid vs. the other. If the first falls through for me, I'll try the next.
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03-27-2020, 12:50 PM | #14 | |
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Join Date: Jan 2017
Location: Orlando, FL
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Quote:
I would also continue down the road of the SBA EIDL.....you don't have to take the funding even if approved, so I would at least continue down that road first. NOTE: I'm trying to get input on whether an approval of EIDL eliminates options on the PPP.....it's a concern I have. |
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03-27-2020, 01:13 PM | #15 | |
In Search of a Life
Join Date: Jul 2009
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Quote:
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