Learn the New PPP Loan Rules and How They Apply to Your Small Business - Shared screen with speaker view
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using EIDL and PPP. can you further explain the restriction of not using them for the same things? My example is paying my rent in advance. can I split that between the PPP and EIDL?
Will you be sharing the PowerPoint and the video recording after the webinar? Tx.
For those self-employed with a PPP loan, can we have more than 75% payroll forgiven?
Does he have this example in writing to see?
Are we able to apply for additional PPP money?
Can a second PPP be filed?
is cash is king at 1pm?
Is there a projected date when the new forgiveness application will be available?
How do I determine what of the PPP money can be paid to me as the owner of LLC? I have one employee
All my employees were on furlough on 2.15.20, and will be on furlough again on 12.31.20. Where does that leave me on FTE requirements?
There is still $ 130 Billion left available in PPP which Will expire June 30, why don´they divert this money to re-open EIDL?
The EIDL cash advance Grant will deduct from PPP forgiveness only if the EIDL cash advance Grant is used to pay payroll or covered expenses during the PPP 8-week period
I just started my business in Dec. and the applications ask what I made last year when I was an independent instructor. which does not apply to my current situation
Hi, the audio is not good enough from my end. Hope to have chance to review again later. Thanks.
I use a laser machine at our local Fabricator’s Lab to make some items that I sell in my online store. The Lab remains off limits and maybe for the rest of the summer. I would like to purchase a laser machine so that I can continue to provide these items to my clients… can I use EIDL money to purchase one? Is there any SBA money available so that I can get this machine?
Hi, is the deadline to file for forgiveness of the PPP loan 10 after the 24 week period?
The LLC is taxes as a sole prop not S corp but operated as a different business name last year, not the LLC. If my business doesn’t have significant loss, do I pay back the loan or do I use the funds to pay my employee anyway?
Can 100% of the PPP Loan be used for payroll or does it have to be split 60/40?
Is there a separate application for self employed ?
Is this correct?- 10000 EIDL advance grant is subtracted from the PPP funds
Can I hire a new employees to count forgiveness pay roll?
I also want to know if we can hire a new employee and be forgiven by including their payroll as well.
Are there any other grants/loans that small business should consider? It seems many options, except PPP, are now closed or exhausted?
To confirm, employer’s portion of payroll taxes (social security and medicare, and FMLA $$) IS covered under payroll expenses in PPP?
If I exhaust my PPP loan in 14 weeks, do I file for forgiveness immediately after, and does this date become the date used for FTE calculation as well, or does it stay at the 24 week period end?
Is it ok if my original app included health and dental however with the extension to 24 weeks, I am now using 100% for 'only' Payroll?
Some business expenses are paid on an annual basis. If one of those comes due during the PPP period, can that be included when it is an appropriate expense?
What if part of the compensation is based not on hours, but on class attendees in a fitness-oriented business? How do you calculate FTEs?
Are insurance payments considered part of the 40% non-payroll forgivable expenses?
RI Commerce Hotline 401-521-HELP
Micro stabilization loans through listed cities
Small Business Assistance Program SBAP
Regarding payroll calculation for forgiveness - can Employer Liabilities such as Social Security, Medicare, Federal Unemployment, RI unemployment and RI Job Dev Fund be counted?
I used to have 2 FTE employees, but now I can only afford 2 part-time. Can part-time employees salary count into forgiveness Payroll cost?
Is the 60% threshold based on the entire loan, or does the EIDL grant deduction come off first?
Business liability and accident
Would Contracts collecting 1099’s be included in those payroll calculations for PPP forgiveness?
*Contractors (my apologies for the typo)
I’m still waiting for my EIDL Loan, even though I applied very early on… how long does it usually take?
Mary Jameson- call them! They emailed me the portal link but I did not receive it (was not even in SPAM) so called them. They checked my loan app# and saw the portal email had been sent so they resent it to me. I applied right at the beginning as well.
I set up the portal but that’s where I’m at…
And I have been calling for the last couple of weeks.
There is a Tier 2 # 877-641-8202 as we;;
They can provide the confirmation number and their name, we can send it to the SBA office
ok, thank you.
Is Bill Cunningham available by phone for questions when filling out forgiveness forms down the road :-)
Self employed person - was capped at $15,384.62 for payroll - has this changed?
There is a great support group on FB called Coronavirus Business Support. If you are not a part of it, check it out.
Can I call someone on your team to go over my situation?
Also can self employed used health insurance premium paid in payroll number?
For those asking for individual advice, go to https://ri.score.org/content/find-mentor-194 and ask for a mentor
Join us online Thursday, June 18th at 1:00 PM to get the information you need. To attend, register in advance for this meeting: https://score.zoom.us/meeting/register/tJErc-uvqD8iGNSkostFR_kTgSa0L94ob2lX
This was very informative - excellent Overview & Q&A. Thank you so much!!
Thank you for answering my questions!