Small Biz Support 2020

[ntblanks]

Oh fuck off.

If you are so fucking bad at reading an environment as this any consulting you have to offer is guaranteed to be 100% absolutely worthless.

Thanks for the brief interlude of hilarity, though.

Your ignorance should just be left to hang there as a testament to..um...your ignorance.

There are lots of brave folks out there trying to start and build businesses (or find new revenue streams for existing ones), despite COVID. Maybe you don't meet them where you spend your time in "my own little world."

My tip: pick up a dictionary and look up mentorship. It's not for-pay consulting.

There are things in this world to be angry about, for sure. Someone offering volunteer support for entrepreneurs, in my mind, is not one of them.

If I misunderstood the meaning of "THREAD: SMALL BIZ SUPPORT 2020" and a forum admin tells me to delete my post for lack of relevance I'll do it. But not because some twat can't read, gets angry at something he doesn't understand, and lashes out.

[Mustonen]

Your ignorance should just be left to hang there as a testament to..um...your ignorance.

There are lots of brave folks out there trying to start and build businesses (or find new revenue streams for existing ones), despite COVID. Maybe you don't meet them where you spend your time in "my own little world."

My tip: pick up a dictionary and look up mentorship. It's not for-pay consulting.

There are things in this world to be angry about, for sure. Someone offering volunteer support for entrepreneurs, in my mind, is not one of them.

If I misunderstood the meaning of "THREAD: SMALL BIZ SUPPORT 2020" and a forum admin tells me to delete my post for lack of relevance I'll do it. But not because some twat can't read, gets angry at something he doesn't understand, and lashes out.

I mean, like that’s cool. But yes, you misunderstood the meaning. And if you’re still unaware of that after being called out on it, I’m genuinely at a loss re: your extension of support that’s apparently not disingenuous?

[Bunion 2020]

Show us her Tits.

[GoldMember]

I mean, like that’s cool. But yes, you misunderstood the meaning. And if you’re still unaware of that after being called out on it, I’m genuinely at a loss re: your extension of support that’s apparently not disingenuous?

This is an area I have interest in. Not as an early-stage entrepreneur but as a (former) director of a non-profit director of a tech accelerator program. It's real and meaningful for many as they are on their path of scaling a technology. Good stuff and good on you for providing them support. Invaluable for those who've not traveled that path before.

[Core Shot]

As I noted before up-thread, according to my CPA with direction from their national HQ, fuel for vehicles counts. Thinking about it, if Uber and the other items you mentioned were forgivable, why wouldn't fuel?

Thanks AuDick.

I’m going for it. The fact that a big CPA firm thinks it’s legit helps.

The banks have no liability for approving my forgiveness, but I want a leg to stand on, so I can push back if they question me.

[The Suit]

Your ignorance should just be left to hang there as a testament to..um...your ignorance.

There are lots of brave folks out there trying to start and build businesses (or find new revenue streams for existing ones), despite COVID. Maybe you don't meet them where you spend your time in "my own little world."

My tip: pick up a dictionary and look up mentorship. It's not for-pay consulting.

There are things in this world to be angry about, for sure. Someone offering volunteer support for entrepreneurs, in my mind, is not one of them.

If I misunderstood the meaning of "THREAD: SMALL BIZ SUPPORT 2020" and a forum admin tells me to delete my post for lack of relevance I'll do it. But not because some twat can't read, gets angry at something he doesn't understand, and lashes out.

Have you won a Grammy?

[muted]

chochop is offering help, some of you here clearly need it, maybe me too, what the hell are we arguing about again?

[MakersTeleMark]

I'm here to offer free tit mentoring.

[senior researcher]

Chop Chop is racist.

[Bunion 2020]

Bank just sent me the P3 Loan forgiveness application.

https://www.sba.gov/about-sba/sba-ne...ss-application

[Core Shot]

Bank just sent me the P3 Loan forgiveness application.

https://www.sba.gov/about-sba/sba-ne...ss-application

Thx. Very helpful, even though I’m only in week three.

Looks like door #2 is made legit. Just get to FTE and payroll by June 30 and you’re golden.

[Cono Este]

That’s amazing. Basically not even asking if you took a hit.

For the history books.


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[MakersTeleMark]

My EIDL was approved out of nowhere.

[Bunion 2020]

^^^ Weird isn't it? I put in just as shit when sideways. Never heard a word and suddenly, deposit in my account.

[smmokan]

Full amounts ($10k), or just $1000 per employee?

[Bunion 2020]

1K per employee, and I am that employee. What with P3 I will be sending that 1K back.

[MakersTeleMark]

They approved me for $20k. I took half.

This isn't PPP.

[Bunion 2020]

Nope, but one affects the other. EIDL isn't forgivable if you accept P3 funds.

[MakersTeleMark]

Nope, but one affects the other. EIDL isn't forgivable if you accept P3 funds.

Yep.

[Bunion 2020]

P3 period to be extended from 8 weeks to 24 weeks.

[smmokan]

P3 period to be extended from 8 weeks to 24 weeks.

Meaning the business now has 24 weeks to spend the funds on payroll, expenses, etc, I'm assuming?

[GoldMember]

Meaning the business now has 24 weeks to spend the funds on payroll, expenses, etc, I'm assuming?

Yes. Additionally, the threshold for payroll expenses reduces to 60% from 75% meaning you have additional room for utility expenses to be used. This is a good thing.

[::: :::]

P3 period to be extended from 8 weeks to 24 weeks.

but the loan amount is not extendable also, right? just the period to use whatever you got...

[NewYorkDirtBag]

Yes. Additionally, the threshold for payroll expenses reduces to 60% from 75% meaning you have additional room for utility expenses to be used. This is a good thing.

But now that 60% is a cliff. Its either 60% or higher full forgiveness, or 59% no forgiveness. With the same restrictions for FTE, and no less than 25% wage reduction. Shouldn't be an issue for most but it changes things a bit.

I didn't see it in the law but I also assume (but need to see confirmation from the new PPP forgiveness guidelines that will be forthcoming) that the forgiveness limit on owners comp went up from 15.385% (8/52) of 2019 compensation to 46.15% (24/52) of 2019 compensation)

[Flyoverland Captive]

But now that 60% is a cliff. Its either 60% or higher full forgiveness, or 59% no forgiveness.

But can't you just exclude some utilities from your calculation until you get to 60%? Shouldn't be an issue at all.