Small Business Disaster Relief

[ForEverlast]

Guys here is a link for a grant for small business relief it entitles business to a 10K grant no strings attached, takes very little time to fill out and you will need all business info. tax id numbers, sales revenue for previous 12 month cycle from Jan 31 2020, etc. but simple to complete and I am clearly not one for hands outs but we will be needing this to help keep our empolyees and meet expenses. This is seperate from the PPP which applications will begin April 3rd

https://covid19relief.sba.gov/#/

The PPP program requires you work thru an certified SBA lender Wells Fargo and many others are listed on the SBA website as approved these are loan that will be completely forgiven if you 1>keep your employees, 2>Don't reduce pay during this time simple as those two things

It will be treated as a loan at an amazing .5% interest rate, guranteed by the government no personal gurantee required etc. This could possibly even replace another loan you have with a higher rate and looks like will be simple to get....I will post link for application tomorrow when it becomes availalble.

Good luck to all small business owners it is not easy running a business and having families dependent on you especially during these times but I know Thru God's Grace we will prevail!

And Yes this will be tax payer funded but without small businesses there won't be a need for tax collections as there will be no one employed!

Best of Luck
BG

[DeerGeek]

Thank you for posting.

[BowSlayer]

Guys here is a link for a grant for small business relief it entitles business to a 10K grant no strings attached, takes very little time to fill out and you will need all business info. tax id numbers, sales revenue for previous 12 month cycle from Jan 31 2020, etc. but simple to complete and I am clearly not one for hands outs but we will be needing this to help keep our empolyees and meet expenses. This is seperate from the PPP which applications will begin April 3rd

https://covid19relief.sba.gov/#/

The PPP program requires you work thru an certified SBA lender Wells Fargo and many others are listed on the SBA website as approved these are loan that will be completely forgiven if you 1>keep your employees, 2>Don't reduce pay during this time simple as those two things

It will be treated as a loan at an amazing .5% interest rate, guranteed by the government no personal gurantee required etc. This could possibly even replace another loan you have with a higher rate and looks like will be simple to get....I will post link for application tomorrow when it becomes availalble.

Good luck to all small business owners it is not easy running a business and having families dependent on you especially during these times but I know Thru God's Grace we will prevail!

And Yes this will be tax payer funded but without small businesses there won't be a need for tax collections as there will be no one employed!

Best of Luck
BG

The PPP application is available now...I filled mine out and submitted it yesterday to my bank. Any money you borrow through that program has to be used for payroll, rent, utilities, or mortgage interest. At least 75% of it must be used for payroll. You can't cut your workforce or wages or it will lessen your "forgiveness".

[Drycreek3189]

Small businesses are the backbone of this country. I’m conservative to the core, but I have no problem with legitimate help for legitimate businesses in trouble THROUGH NO FAULT OF THEIR OWN. Our government started this, (for good or for bad is another discussion), and it’s up to us to help them out. Carry on !

[HoustonHunter]

I’ve been processing applications for customers on the PPP and have been getting approvals from the SBA all weekend. So very exciting for us and our clients. Our whole bank is working through the weekend to get them processed.

I’d urge anyone who owns a business with < 500 employees to go through the program. It’s working.

I’ve submitted 31 applications for clients since Friday morning and already have 6-8 approvals.

[speck1]

I submitted my SBA last Monday at 8am. The first 10K was supposed to be a grant and be received within 3 days. So far nothing. PPP submitted yesterday at noon as soon as it came online. We shall see. Hope they get the money out this week.

[ForEverlast]

I’ve been processing applications for customers on the PPP and have been getting approvals from the SBA all weekend. So very exciting for us and our clients. Our whole bank is working through the weekend to get them processed.

I’d urge anyone who owns a business with < 500 employees to go through the program. It’s working.

I’ve submitted 31 applications for clients since Friday morning and already have 6-8 approvals.

My bank is dragging a bit and won't have up and running til hopefully tomorrow but glad to see you guys working for your customers thru the weekend says a lot about your bank and how you care for your customers!!

[miket]

My CPA says cant even get me the info needed till Wednesday...I have heard its going fast

[6.5 shooter]

I submitted my SBA last Monday at 8am. The first 10K was supposed to be a grant and be received within 3 days. So far nothing. PPP submitted yesterday at noon as soon as it came online. We shall see. Hope they get the money out this week.

I did mine Wednesday evening, curious how long it takes.

[easeup]

my sons business is in need too. He hasnt filed yet. He has trouble reconciling that in the end he would be accepting a government bailout. He wants to take care of all his employees as they are as family to him. on the other hand he desires to stand with God on all things and not look to the world for an easier way out. Please pray for him on this difficult decision he has to make soon.

[BowSlayer]

my sons business is in need too. He hasnt filed yet. He has trouble reconciling that in the end he would be accepting a government bailout. He wants to take care of all his employees as they are as family to him. on the other hand he desires to stand with God on all things and not look to the world for an easier way out. Please pray for him on this difficult decision he has to make soon.

Does he go to the Dr when he’s sick or doesn’t want an easier way out? Sometimes God gives us help and we don’t accept it. I’m a believer as well and have applied. I’ll say a prayer that he does what’s right for him and his employees.

[speck1]

I did mine Wednesday evening, curious how long it takes.

I will post when I see the first dollar come thru. I have never taken a dime from the government before.
There were no poor business decisions made here that led to the need for this money. The state mandate forced us to shut down on everything except acute dental emergencies. I am continuing to pay my full staff as they have families that need the income and I want to avoid any layoffs. I won’t be able to do that for long without some financial assistance. Lot of anxiety when you have put 26 hard years into a business and now you just have to sit and wait.

[BertramBass]

A sole-proprietor qualifies, but if the income is 100% derived from 1099's, how do you calculate the "payroll"? Add up all last years 1099's and divide by 12 months?

[6.5 shooter]

I will post when I see the first dollar come thru. I have never taken a dime from the government before.
There were no poor business decisions made here that led to the need for this money. The state mandate forced us to shut down on everything except acute dental emergencies. I am continuing to pay my full staff as they have families that need the income and I want to avoid any layoffs. I won’t be able to do that for long without some financial assistance. Lot of anxiety when you have put 26 hard years into a business and now you just have to sit and wait.

Same here. We have been in business since 1946. It’s going to be a mess for sure.

[HoustonHunter]

My bank is dragging a bit and won't have up and running til hopefully tomorrow but glad to see you guys working for your customers thru the weekend says a lot about your bank and how you care for your customers!!

Thank you sir. I’ve had some really great feedback from customers—makes it all worth it and keeps us going.

I’ve now submitted about 30 since Friday and have about 10 approvals so far. I suspect they will continue to roll in over the next few days.

Trump tweeted the other day if the funds run out for the PPP he would immediately ask congress to put more in the bucket. This is what I suspected would happen from the beginning. Just hope the move quick on it so customers can continue to get quick relief.