Covid 19 - Resources for small businesses

Terry

Supportive Member
Joined
May 18, 2007
Messages
574
Location
Wrentham, MA
Name
Terry O'Brien
All the documents and information is on the sba.gov website.
you can apply for both the the EIDL and the PPP loan but you may have the 10,000 taken off the ppp loan. it really depends on what expenses you have.
The best way is to go through your business bank. I use bank of america and they went live just after 9am today for the ppp. All communication will be on line.
There wont be enough funds so if you're going to do it, get going.
 

Kenny Hayes

Member
Joined
Apr 17, 2009
Messages
7,880
Location
Yukon, Oklahoma
Name
Kenny Hayes
My CPA did both applications for me and we sent him downloaded documents from our bank that was needed. We haven’t done anything. They’re submitted.
 

Lyman

Supportive Member
Joined
May 19, 2007
Messages
1,759
Location
Johnstown new york
Name
Lyman
Has any one heard about the eidl. I registered and have a account number but I can not find were to look for progress.
 

FredC

Village Idiot
Joined
Jul 13, 2011
Messages
26,231
Has any one heard about the eidl. I registered and have a account number but I can not find were to look for progress.
I'm not sure you can check other than contacting the SBA maybe.

I have heard that they are looking to put additional qualification constraints on it and it has changed to "$1000 per employee up to 10k" but can't find anything definitive
 

FredC

Village Idiot
Joined
Jul 13, 2011
Messages
26,231
sbal.jpg
 

jcooper

Member
Joined
Oct 7, 2006
Messages
3,232
Location
IL
Name
Jerry Cooper
I applied for the EDIL. The 2 million paid back over 30 years sounds like a screaming deal. I've already picked out the color of my new bass boat.


The edil process has been a joke.


They had 20 billion in the program with 390+ billion applied for. I wouldn't bank on getting anything from edil... They have changed guidance so many times even cpa's don't know wtf is going on.


Originally was 10k loan/advance that could be forgiven. Now sba changed the rule(after law was already written!) and it's 1k per employee according to their site. This was not on the forms/guidance we original received.

Hopefully the PPP program works better. We were able to get BOA site(for applying) to work late last night after it crashing a couple of times yesterday.

Good luck fellas
 

sassyotto

Member
Joined
Jun 7, 2013
Messages
1,096
Location
Wisconsin
Name
Paul
has anyone gotten any money or response for that matter on anything OTHER than the stimulus check?
 

Lyman

Supportive Member
Joined
May 19, 2007
Messages
1,759
Location
Johnstown new york
Name
Lyman
New York governor said he is using every ones tax return for cash flow for the state. . I guess I better get to work and take my chances.
 
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Kenny Hayes

Member
Joined
Apr 17, 2009
Messages
7,880
Location
Yukon, Oklahoma
Name
Kenny Hayes
That would be about right! Whose gonna have an account to watch🤷🏼‍♂️ I ain’t gonna watch it in account I ain’t got any money!
 

steve_64

Member
Joined
Aug 11, 2012
Messages
13,371
Genny signed up for unemployment but haven't heard anything. No stimulus or anything yet but really never expected it.
We went backwards in checking for a couple months but think we stopped that now.
Work is picking back up just like every spring.
 

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