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Twenty-one Things You Need to Know About the PPP - Shared screen with speaker view
Christopher D'Ovidio
22:33
How can I submit the most recent PPP Loan forgiveness application? My bank has not sent an email/invitation for the newest application.
Mark Conroy
22:40
I did not apply for the full amount for my first PPP loan in 2020. Can I apply for a supplemental PPP Loan and get the difference? How do apply for supplemental as there are only first-draw or second-draw loan applications?
Mark Conroy
23:15
I received an EIDL Advance of $10,000 last year and I already applied for Loan Forgiveness. The December 2020 stimulus Act changed the rules and EIDL Advance is not being deducted from PPP Loan Forgiveness. If EIDL is automatically deducted from Forgiveness, how is SBA and my lender going to handle my EIDL that was automatically deducted from PPP Loan Forgiveness?
Julian Daich
31:47
Can non profits apply for PPP?
Teri Terrien, SCORE Rhode Island
49:04
To access our recent blog posts on PPP visit https://ri.score.org/blog
Tina Melo
51:01
what about non profits under 50.000 ?
Derek Hopkins
52:32
hello Bill, I am a sole proprietor and my business is second hand retail. I buy storage units and because of covid auctions have been down and I resell at flea markets which have also been down. I would be applying for a 1sf draw loan. I have terrible credit and have been collecting unemployment since April. what am I eligible for if anything?
John Primiano
55:40
What would preclude an applicant that is a sole proprietor from receiving forgiveness from SBA?
John Bateman
55:41
I have a seasonal business, my payroll is mostly July and August. Is there any way to delay receipt of funds so I can use for payroll in August?
Mark Conroy
58:08
I received an EIDL Advance of $10,000 last year and I already applied for Loan Forgiveness. The December 2020 stimulus Act changed the rules and EIDL Advance is not being deducted from PPP Loan Forgiveness. If EIDL is automatically deducted from Forgiveness, how is SBA and my lender going to handle my EIDL that was automatically deducted from PPP Loan Forgiveness?
Tina Melo
01:00:04
I am a 501(c)(3) public charity
Steve Clouthier
01:00:14
For my 1st draw loan we used payroll etc. for the full year. Afterwards, new rules for seasonal businesses were passed. Is it possible to amend the 1st draw loan amount?
Stephanie Izzo
01:03:22
I was fortunate enough to have someone work with me one on one to fill out the Restore RI grant application (properly!) and it really really helped. I’m not only technically challenged but I also have some VERY bad ADHD (bad) so if I hadn’t had the help in filling out the form, it would have sat indefinitely on the sidelines, never to have happened. ;( By any chance could that same person who helped me fill out the RestoreRI form help me with the PPP application? (It was someone through SCORE but I can’t remember his name - it wasn’t my mentor, it was someone else)
Derek Hopkins
01:06:02
ok
Derek Hopkins
01:06:31
I’m fine with not collecting if I get the loan
Mark Conroy
01:07:50
Can you explain the new federal tax allowances from the December 27, 2020 stimulus law as they relate to PPP Loans and PPP expenditures?
Derek Hopkins
01:08:17
ok thank you
Stephanie Izzo
01:10:20
Also, are these loans first come, first serve? Or can I wait until the end of February to apply?
Teri Terrien, SCORE Rhode Island
01:12:47
Check out https://ri.score.org/coronavirus-covid-19-small-business-guidance-ppp-first-round for additional resources
Steve Clouthier
01:12:49
Bill did you say that I must submit my application for 1st draw forgiveness before applying for the 2nd draw?
Stephanie Izzo
01:13:20
Thank you so much
Stephanie Izzo
01:14:33
Thank you
Steve Clouthier
01:17:55
Thank you all