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Old 04-07-2020, 12:18 PM   #2
Trivers Trivers is offline
Always ask 'Why?"
 
Join Date: Oct 2011
Location: Two Rivers, Wisconsin
Quote:
Originally Posted by Buehler445 View Post
Bank said the gross revenue limit has been removed.

The CEO at the coop said theirs was limited out too. Their payroll number matters far more than mine does.
YAY!!! Good luck!
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Old 04-07-2020, 12:34 PM   #3
chiefforlife chiefforlife is offline
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Join Date: Feb 2006
Chase finally opened up today for submitting applications.

Just got done with mine. Sure hope it comes through quick. My business is down over 60% the last two weeks with no sign of improving anytime soon.
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Old 04-07-2020, 12:41 PM   #4
SAUTO SAUTO is offline
Shit
 
Join Date: Jun 2008
Quote:
Originally Posted by chiefforlife View Post
Chase finally opened up today for submitting applications.

Just got done with mine. Sure hope it comes through quick. My business is down over 60% the last two weeks with no sign of improving anytime soon.
Yeah we’re at least there.
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Old 04-07-2020, 12:50 PM   #5
chiefforlife chiefforlife is offline
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Join Date: Feb 2006
Quote:
Originally Posted by SAUTO View Post
Yeah we’re at least there.
Doesnt help to be essential if no one is bringing there vehicles in. I was Thankful at first and we were actually doing OK but once the stay at home order started, whoa, it turned off quick.
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Old 04-07-2020, 04:48 PM   #6
Dallas Chief Dallas Chief is online now
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Join Date: Apr 2002
Location: Jupiter, FL.
Quote:
Originally Posted by SAUTO View Post
Yeah we’re at least there.
I shut it down yesterday and furloughed everyone including myself. I couldn’t expect ownership to keep funding payroll with no work being done and no revenue being generated. I’ve applied for both EIDL and PPP so we will see what happens. Sucks. First time I’ve been unemployed in 32 years and unemployment is a major league hot mess in FL. Website looks like something from circa 1998 geocities.
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Old 04-07-2020, 01:14 PM   #7
Hog's Gone Fishin Hog's Gone Fishin is offline
Fish are scared of me
 
Join Date: Nov 2001
You landlords that filed the EIDL, what did you put in the "cost of goods sold" line?

The property value??
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Old 04-07-2020, 01:18 PM   #8
Trivers Trivers is offline
Always ask 'Why?"
 
Join Date: Oct 2011
Location: Two Rivers, Wisconsin
Quote:
Originally Posted by Hog's Gone Fishin View Post
You landlords that filed the EIDL, what did you put in the "cost of goods sold" line?

The property value??
None; I struggled with that. COGS for real estate leasing???? I put zero.

it will ask you what industry...I put real estate; then leasing...if I remember correctly.
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Old 04-07-2020, 05:08 PM   #9
Hog's Gone Fishin Hog's Gone Fishin is offline
Fish are scared of me
 
Join Date: Nov 2001
Quote:
Originally Posted by Trivers View Post
None; I struggled with that. COGS for real estate leasing???? I put zero.

it will ask you what industry...I put real estate; then leasing...if I remember correctly.
****. I didn't think about entering "0" . I'm a GD dumbass.
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Old 04-08-2020, 03:31 PM   #10
chiefforlife chiefforlife is offline
Colorado Chief Fan
 
Join Date: Feb 2006
So, I applied for the EIDL today and there wasnt anywhere to ask for an amount?

There was a box to check if you are interested in the quick 10K but thats it.

Does anyone know if they use a formula to determine how much you qualify for or maybe they ask you later how much you want?
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Old 04-08-2020, 03:49 PM   #11
Trivers Trivers is offline
Always ask 'Why?"
 
Join Date: Oct 2011
Location: Two Rivers, Wisconsin
Quote:
Originally Posted by chiefforlife View Post
So, I applied for the EIDL today and there wasnt anywhere to ask for an amount?

There was a box to check if you are interested in the quick 10K but thats it.

Does anyone know if they use a formula to determine how much you qualify for or maybe they ask you later how much you want?
They do have formula they use once they receive the next round of data they will request. The 10K is seperate from those calculation.

No one has stated what "up to 10K" means. Some talk on the street is that you get $1K for every employee stated in your initial app. Hope that is wrong.
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Old 04-07-2020, 01:47 PM   #12
Buehler445 Buehler445 is offline
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Join Date: Apr 2007
Location: Scott City KS
Quote:
Originally Posted by Hog's Gone Fishin View Post
You landlords that filed the EIDL, what did you put in the "cost of goods sold" line?

The property value??
Nah. Rental isn’t going to have COGS unless you inventory something.
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Old 04-07-2020, 05:06 PM   #13
Hog's Gone Fishin Hog's Gone Fishin is offline
Fish are scared of me
 
Join Date: Nov 2001
Quote:
Originally Posted by Buehler445 View Post
Nah. Rental isn’t going to have COGS unless you inventory something.
It would not let me submit the form with entering a figure.
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Old 04-08-2020, 05:51 PM   #14
mililo4cpa mililo4cpa is offline
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Join Date: Jan 2017
Location: Orlando, FL
Had a client today that state he received confirmation from SBA on loan approval, and the bank has final signature documents. I personally have not seen this, nor has my field guy, so I'm skeptical that this is the final step to funding (we're trying to get a copy of this doc to see what it says), but if this is true, this is VERY impressive work by the SBA. Again, skeptical that this isn't simply more underwriting documentation from his bank, but again, would be very impressed if what he says is true....
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Old 04-08-2020, 06:50 PM   #15
chiefforlife chiefforlife is offline
Colorado Chief Fan
 
Join Date: Feb 2006
Quote:
Originally Posted by mililo4cpa View Post
Had a client today that state he received confirmation from SBA on loan approval, and the bank has final signature documents. I personally have not seen this, nor has my field guy, so I'm skeptical that this is the final step to funding (we're trying to get a copy of this doc to see what it says), but if this is true, this is VERY impressive work by the SBA. Again, skeptical that this isn't simply more underwriting documentation from his bank, but again, would be very impressed if what he says is true....
Wow, that would be impressive. Was that for the PPP or the EIDL?
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