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Thread: Small Biz Support 2020
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04-14-2020, 10:24 AM #226
I read that $10k EIDL will be subtracted from PPP loan forgiveness.
. . .
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04-14-2020, 10:32 AM #227
I think the idea is they furloughed all their employees, so now they are getting supported by unemployment. Then, when business picks up and she needs to rehire she wanted to use the forgivable part of the PPP to pay their salaries for a while. Instead, the point of the PPP forgiveness is you keep them on payroll through the downturn.
I can't say I care much. Of course businesses are scrambling to get their hands on whatever support they can right now. Given what the truly wealthy are getting away with, this seems like pretty small potatoes.
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04-14-2020, 10:57 AM #228Registered User
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when I used to hear about someone not invoicing right away I wondered what their problem was, I always had the invoice in hand before I finished the job
then many years later, I'm that guy the customer is begging an invoice from, I just keep telling them I"m busy and I'll get to it, now I just invoice once a month it's much easier
and yeah only two types of people go into business for themselves those who are blindly stupid and those that are calculated and smart the failure rate is the same
got the same email, the funny thing is it got labled as spam, It sounds alot like spam
the email sounds completely different than when I filled out the original application
the amount of bullshit is all time, but what do you expect from the federal gov't
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04-14-2020, 05:21 PM #229Registered User
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I keep hearing all of the ppp money will be gone some time tomorrow. Anyone hearing anything differently?
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04-14-2020, 06:09 PM #230Registered User
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that seems to be the hysteria/rumor of the moment prolly true
the airlines are getting 25 billion
boeing which was a failure before this started will get billions too
small business the average person can just take it in the ass because the federal gov't has always hated small business they love big corporations
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04-14-2020, 06:27 PM #231
I thought you had to have 500 or less employees?
Is it radix panax notoginseng? - splat
This is like hanging yourself but the rope breaks. - DTM
Dude Listen to mtm. He's a marriage counselor at burning man. - subtle plague
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04-14-2020, 06:36 PM #232I drink it up
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You do. He’s just bitching and moaning because that’s what he does.
focus.
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04-14-2020, 06:37 PM #233
Welp, Wells Fargo loan app submitted this morning, just go an email form Bank of Jackson Hole saying they are reviewing my application, so things are moving forward. I will go with Wells
Yesterday after Trump said he has absolute power- Mnuchin got up to mike and said they will add funding to PPP and no one will miss out. He also acknowledged how massive this undertaking is, and in general, spoke like an adult, which was so striking after listening to Trump for 40 minutes rambling and raging.The market is dominated by fat skis largely because young toughs want what they see in videos: organ donors hucking into heliski bowls. -Seth Masia
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04-14-2020, 06:39 PM #234I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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04-14-2020, 07:36 PM #235
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04-15-2020, 12:53 PM #236
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04-15-2020, 01:07 PM #237
Took about a week, but got the funds deposited today for our PPP loan.
Live Free or Die
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04-15-2020, 01:16 PM #238
I received a letter from my bank today that said because I have a SBA 7(a) loan that through the SBA debt relief program that my principal and interest payments will be paid for the next 6 months and there’s nothing I need to do to receive the benefit.
Anybody know anything about this?
I applied for PPP a week ago and they sent me the forms to sign last night.
Any concerns doing both?I'd rather die while I'm living then live while I'm dead
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04-15-2020, 02:49 PM #239Registered User
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04-15-2020, 03:01 PM #240
https://www.politico.com/news/2020/0...rus-aid-188533
I'll be competing with corporations for the remaining money. Cool.
Actually, they have already been funded for the most part. Extra cool.The market is dominated by fat skis largely because young toughs want what they see in videos: organ donors hucking into heliski bowls. -Seth Masia
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04-15-2020, 03:04 PM #241
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04-15-2020, 04:08 PM #242
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04-15-2020, 04:54 PM #243
Got email confirmation that the auto debit on my 504 loans will be automagically suspended.
It’s weird. The fed money actually pays your loans for six months.
But how is that treated in quickbooks?
Is it income to you?
I guess so. But then you get to deduct the interest portion as an expense.. . .
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04-15-2020, 05:23 PM #244I drink it up
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04-16-2020, 08:22 AM #245
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04-16-2020, 08:27 AM #246Registered User
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Looks like the ppp funds are officially dried up. We are getting errors on new submissions through the SBA saying the program is no longer available. Hopefully they authorize more funds to the program because there are still a ton of businesses out there needing funds
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04-16-2020, 08:29 AM #247I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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04-16-2020, 10:18 AM #248
When I'm paying my employees out of my own pocket by next week it's at least comforting to read about assholes laying off their employees and complaining they're making too much money on unemployment.
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04-16-2020, 10:30 AM #249
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04-16-2020, 10:44 AM #250
Thanks Dan, but we'll be fine. My post was more a comment about the some of the douchebags that frequent this forum. As I've mentioned earlier, this virus has a side effect of outing the assholes.
Edit. Meanwhile Mike Lee is posting on Facebook about how we need to bail out faith based entities. Fuck Mike Lee too.
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