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Learn the New PPP Loan Rules and How They Apply to Your Small Business - Shared screen with speaker view
Megan Wansing
35:09
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?
Melinda Ailes
36:16
Will you be sharing the PowerPoint and the video recording after the webinar? Tx.
tlush
38:32
For those self-employed with a PPP loan, can we have more than 75% payroll forgiven?
Patricia Yeoman
44:27
Does he have this example in writing to see?
Dianne Miguel
46:47
Are we able to apply for additional PPP money?
Catherine Thibault
46:49
Can a second PPP be filed?
Megan Wansing
48:07
is cash is king at 1pm?
Bryan Pringles
48:19
Is there a projected date when the new forgiveness application will be available?
Ryan Haworth
48:57
How do I determine what of the PPP money can be paid to me as the owner of LLC? I have one employee
Steve Clouthier
49:47
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?
John Farah
50:02
There is still $ 130 Billion left available in PPP which Will expire June 30, why don´they divert this money to re-open EIDL?
John Farah
51:36
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
David Endicott
52:22
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
Lewis Luo
52:35
Hi, the audio is not good enough from my end. Hope to have chance to review again later. Thanks.
maryjameson
53:52
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?
THERESA DINIZ
54:01
Hi, is the deadline to file for forgiveness of the PPP loan 10 after the 24 week period?
Ryan Haworth
54:11
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?
Walden
54:14
Can 100% of the PPP Loan be used for payroll or does it have to be split 60/40?
KERRI ANDERSON
54:28
Is there a separate application for self employed ?
Jane Bitto
55:10
Is this correct?- 10000 EIDL advance grant is subtracted from the PPP funds
Tao Stachera
59:29
Can I hire a new employees to count forgiveness pay roll?
Bryan Pringles
01:00:56
I also want to know if we can hire a new employee and be forgiven by including their payroll as well.
Maria Porreca
01:01:03
Are there any other grants/loans that small business should consider? It seems many options, except PPP, are now closed or exhausted?
Ryan Haworth
01:01:34
To confirm, employer’s portion of payroll taxes (social security and medicare, and FMLA $$) IS covered under payroll expenses in PPP?
Steve Clouthier
01:02:13
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?
Catherine Thibault
01:02:37
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?
tlush
01:02:38
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?
Craig Hockenbrough
01:05:12
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?
Kimberly Besse
01:05:30
Are insurance payments considered part of the 40% non-payroll forgivable expenses?
Doris Blanchard
01:05:31
RI Commerce Hotline 401-521-HELP
Doris Blanchard
01:06:20
Micro stabilization loans through listed cities
Doris Blanchard
01:07:17
Small Business Assistance Program SBAP
Patricia Yeoman
01:07:35
Regarding payroll calculation for forgiveness - can Employer Liabilities such as Social Security, Medicare, Federal Unemployment, RI unemployment and RI Job Dev Fund be counted?
Tao Stachera
01:12:26
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?
Steve Clouthier
01:12:52
Is the 60% threshold based on the entire loan, or does the EIDL grant deduction come off first?
Kimberly Besse
01:12:56
Business liability and accident
Kimberly Besse
01:13:28
got it
Bryan Pringles
01:15:12
Would Contracts collecting 1099’s be included in those payroll calculations for PPP forgiveness?
Bryan Pringles
01:15:36
*Contractors (my apologies for the typo)
maryjameson
01:16:22
I’m still waiting for my EIDL Loan, even though I applied very early on… how long does it usually take?
Kimberly Besse
01:18:02
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.
maryjameson
01:19:24
I set up the portal but that’s where I’m at…
maryjameson
01:19:41
And I have been calling for the last couple of weeks.
Kimberly Besse
01:21:16
There is a Tier 2 # 877-641-8202 as we;;
Doris Blanchard
01:21:41
Also disastercustomerservice@sba.com
Doris Blanchard
01:22:23
They can provide the confirmation number and their name, we can send it to the SBA office
maryjameson
01:22:23
ok, thank you.
Catherine Thibault
01:23:58
Is Bill Cunningham available by phone for questions when filling out forgiveness forms down the road :-)
Kathleen Shea
01:24:15
Self employed person - was capped at $15,384.62 for payroll - has this changed?
Kimberly Besse
01:24:18
There is a great support group on FB called Coronavirus Business Support. If you are not a part of it, check it out.
David Endicott
01:25:07
Can I call someone on your team to go over my situation?
Catherine Thibault
01:25:16
ditto
Kathleen Shea
01:25:23
Also can self employed used health insurance premium paid in payroll number?
Jeffrey Bodenstab
01:26:17
For those asking for individual advice, go to https://ri.score.org/content/find-mentor-194 and ask for a mentor
Lisa Foster
01:26:43
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
Maria Porreca
01:26:48
This was very informative - excellent Overview & Q&A. Thank you so much!!
Patricia Yeoman
01:28:08
Thank you for answering my questions!
Doris Blanchard
01:28:09
Thank you!
tlush
01:28:09
Thank you!
Steve Clouthier
01:28:09
Thank you!