Home Discord Chat
Go Back   ChiefsPlanet > Nzoner's Game Room
Reload this Page News Hey Small Business Owners...What are you doing to ride the storm out?
Register FAQDonate Members List Calendar Mark Forums Read

Reply
Page 8 of 47 « First 4567 8 910111218 Last »
 
Thread Tools Display Modes
Old 03-26-2020, 09:25 AM  
Trivers Trivers is offline
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: 2,923
Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.Trivers is obviously part of the inner Circle.
   Reply With Quote
Old 03-27-2020, 09:38 AM   #106
ModSocks ModSocks is offline
Needs more middle fingers
 
ModSocks's Avatar
 
Join Date: Mar 2005
Location: San Diego
Annnnnd we're shutting it down.
Posts: 64,172
ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.ModSocks is obviously part of the inner Circle.
     Reply With Quote
Old 03-27-2020, 09:49 AM   #107
mililo4cpa mililo4cpa is offline
Veteran
 
mililo4cpa's Avatar
 
Join Date: Jan 2017
Location: Orlando, FL
Quote:
Originally Posted by Mr. Plow View Post
Talking some friends at the beginning of all this, that's what we came up with. No mortgage payments for 2-3 months. Tack them on to the end of the note. Gives me money in my pocket to pay everything else, plus in the end they are getting their money.

I'm sure it's not as simple to do as that sounds and I'm sure there are reasons it's not being done that way that I know nothing about.

I'd be calling my bank (and will be early next week) and asking for a plan to mitigate payments in some fashion for 3 - 6 months....maybe smaller payments or interest only, with a plan for how to repay the amounts after things open back up (say over 6 - 8 month). There is a moratorium on foreclosures (albeit that doesn't stop people reporting bad credit / missed payments), but I'd guess you'd have a fighting chance of being able to work things out with the banks. I'm guessing that the average person takes the "moratorium" as "I don't have to pay", which is not the case at all. You should be talking with your banks, and if you have other debt like credit cards, car loans, etc. I'd do exactly the same thing.

Banks / institutions aren't going to offer it up, you have to be the aggressor and have a plan to lay out, and put it in their hands. Even if the banks ultimately doesn't play ball, you took a shot....and at the end of the day, you may actually be able to defer some payments significantly even if you don't totally abate them
Posts: 3,230
mililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitelli
     Reply With Quote
Old 03-27-2020, 10:05 AM   #108
mililo4cpa mililo4cpa is offline
Veteran
 
mililo4cpa's Avatar
 
Join Date: Jan 2017
Location: Orlando, FL
Also, for small business owners: Lots of Health Care companies are abating premium payments for 30 - 60 days....call your brokers and ask for abatement of payments for short term....
Posts: 3,230
mililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitelli
     Reply With Quote
Old 03-27-2020, 10:48 AM   #109
F150 F150 is offline
Veteran
 
F150's Avatar
 
Join Date: Jan 2020
Location: Missouri
Many will cash in chips and go out till this is over only to resurface after and go back to being successful...those who had a ton of debt wont find it any fun at all.
Posts: 3,149
F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.F150 wants to die in a aids tree fire.
     Reply With Quote
Old 03-27-2020, 10:58 AM   #110
mililo4cpa mililo4cpa is offline
Veteran
 
mililo4cpa's Avatar
 
Join Date: Jan 2017
Location: Orlando, FL
Quote:
Originally Posted by F150 View Post
Many will cash in chips and go out till this is over only to resurface after and go back to being successful...those who had a ton of debt wont find it any fun at all.
Totally agreed with this.....in regards to business, the best way to weather this storm was to have a strong balance sheet prior to. Most of the business owners I'm talking to now are lucky to have 3 - 4 weeks of sustainability and are ridden with debt. Hate to be the bearer of bad news, but adding more debt on top of this isn't going to solve those problems unfortunately...
Posts: 3,230
mililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitelli
     Reply With Quote
Old 03-27-2020, 11:02 AM   #111
Mr. Plow Mr. Plow is offline
In Search of a Life
 
Mr. Plow's Avatar
 
Join Date: Dec 2005
For anyone interested, I called my banker a little while ago. Talked for a bit, and he sent me this from a meeting he was at yesterday.
Attached Files
File Type: pdf Paycheck_Protection_and_Loan_Forgiveness.pdf (528.1 KB, 314 views)
Posts: 30,793
Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.
     Reply With Quote
Old 03-27-2020, 11:09 AM   #112
mililo4cpa mililo4cpa is offline
Veteran
 
mililo4cpa's Avatar
 
Join Date: Jan 2017
Location: Orlando, FL
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....
Posts: 3,230
mililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitelli
     Reply With Quote
Old 03-27-2020, 11:12 AM   #113
mililo4cpa mililo4cpa is offline
Veteran
 
mililo4cpa's Avatar
 
Join Date: Jan 2017
Location: Orlando, FL
Quote:
Originally Posted by Mr. Plow View Post
For anyone interested, I called my banker a little while ago. Talked for a bit, and he sent me this from a meeting he was at yesterday.
Yes...this is consistent with what I have seen.....

I have a .pdf document, but not sure how to attach it.....
Posts: 3,230
mililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitelli
     Reply With Quote
Old 03-27-2020, 11:15 AM   #114
mililo4cpa mililo4cpa is offline
Veteran
 
mililo4cpa's Avatar
 
Join Date: Jan 2017
Location: Orlando, FL
Quote:
Originally Posted by mililo4cpa View Post
Yes...this is consistent with what I have seen.....

I have a .pdf document, but not sure how to attach it.....

OK...figured this out....sorry, I'm a noob....
Posts: 3,230
mililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitelli
 Thumbs Up 1 Thumbs Down 0     Reply With Quote
Old 03-27-2020, 11:22 AM   #115
Mr. Plow Mr. Plow is offline
In Search of a Life
 
Mr. Plow's Avatar
 
Join Date: Dec 2005
Quote:
Originally Posted by mililo4cpa View Post
OK...figured this out....sorry, I'm a noob....
Thanks man!
Posts: 30,793
Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.
 Thumbs Up 1 Thumbs Down 0     Reply With Quote
Old 03-27-2020, 11:26 AM   #116
SAUTO SAUTO is offline
Shit
 
Join Date: Jun 2008
Quote:
Originally Posted by mililo4cpa View Post
Totally agreed with this.....in regards to business, the best way to weather this storm was to have a strong balance sheet prior to. Most of the business owners I'm talking to now are lucky to have 3 - 4 weeks of sustainability and are ridden with debt. Hate to be the bearer of bad news, but adding more debt on top of this isn't going to solve those problems unfortunately...
this came at a terrible time for me, my past 18 months have sucked. car accident ****ed up a hand forever, then cut tendons in the same ****ing hand in july, then had a nurse **** us over real good. was just getting everything close to being in order and now this.





what really sucks is that the insurance company has gone totally silent regarding the settlement we were negotiating otherwise i'd have absolutely nothing to worry about...



but you know what? it'll all work out. it always has.
Posts: 55,715
SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.
 Thumbs Up 1 Thumbs Down 0     Reply With Quote
Old 03-27-2020, 11:30 AM   #117
mililo4cpa mililo4cpa is offline
Veteran
 
mililo4cpa's Avatar
 
Join Date: Jan 2017
Location: Orlando, FL
Quote:
Originally Posted by Mr. Plow View Post
Thanks man!
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....
Posts: 3,230
mililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitelli
     Reply With Quote
Old 03-27-2020, 11:31 AM   #118
Mr. Plow Mr. Plow is offline
In Search of a Life
 
Mr. Plow's Avatar
 
Join Date: Dec 2005
Quote:
Originally Posted by mililo4cpa View Post
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....
That's my feeling as well. More info the better. Us small businesses need to stick together to make it through this.
Posts: 30,793
Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.Mr. Plow is obviously part of the inner Circle.
     Reply With Quote
Old 03-27-2020, 11:32 AM   #119
SAUTO SAUTO is offline
Shit
 
Join Date: Jun 2008
Quote:
Originally Posted by mililo4cpa View Post
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....
im willing to bet you're probably closer on the timeline than mnuchen... he said you should be able to go to your bank end of next week or first of the next and get money same day
Posts: 55,715
SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.SAUTO is obviously part of the inner Circle.
     Reply With Quote
Old 03-27-2020, 11:32 AM   #120
mililo4cpa mililo4cpa is offline
Veteran
 
mililo4cpa's Avatar
 
Join Date: Jan 2017
Location: Orlando, FL
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
mililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitellimililo4cpa 's adopt a chief was Sabby Piscitelli
     Reply With Quote
Reply
Page 8 of 47 « First 4567 8 910111218 Last »

« Previous Thread | > Nzoner's Game Room < | Next Thread »
Thread Tools
Display Modes
Linear Mode Linear Mode

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump




All times are GMT -6. The time now is 08:23 PM.

Contact Us - ChiefsPlanet - Archive - Top

Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2024, vBulletin Solutions, Inc.