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Restore RI Grant Program – How to Apply - Shared screen with speaker view
Craig Hockenbrough
22:32
2 Questions: How do you unlock the expense template cells for entry? Also, • My payroll company submits our quarterly IRS 941 electronically, and the summary confirmation that they provide does not include employee counts. How do I get that info by Monday?
Dianne Miguel
23:10
IS this grant taxable? Why can't we use this money for payroll and healthcare?
Tanya Silvio
25:25
what documents are needed to show revenue/revenue loss?
Richard Schultz
26:36
It seems that there are 1099’s needed but we don’t issue them until January 2021, what exactly are they looking for? Tx
Sean Baxter
28:58
what time Monday does the application open
Mary O'Sullivan
30:02
Sole Proprietors don’t have 1099s and many have losses on line 31 of Schedule C.
Jennifer Ortiz
30:59
physical presence? can you use home address?
Courtney Church
31:16
There are for-profit Rhode Island businesses who do not have an office or storefront.
Mary O'Sullivan
31:19
What about no employees actually hired, but contract support is often used.
Mary O'Sullivan
31:53
I sure hope so!
Kara Kunst
32:22
Hi Craig, Please make sure you enable editing when you download the expense template, that should unlock the cells.
Kara Kunst
33:10
Hi Sean, the application will open by 5pm on Monday.
Kara Kunst
33:52
Hi Dianne, This grant is taxable.
Jennifer Ortiz
35:55
I was shut down March 21. The 22-31 st
Dianne Miguel
35:58
We are in the travel industry but our NAICS code is not listed for severely impacted. Mark Brodeur from Commerce called and said we will be included but as of today we don't see the change. Will this be fixed by Monday?
Kevin Perry
36:10
Does a Yoga and Pilates studio come under recreation
Jennifer Ortiz
36:16
loss does not count?
Kara Kunst
36:47
Hi Dianne, Can I ask which NAICS code your business falls into? Thanks
Dianne Miguel
37:15
IF I remember correctly it is 56010 travel agency
Kara Kunst
38:13
Thanks, Dianne. I'll message my colleagues and see what I can find out.
Patricia Yeoman
38:29
I have a PPP. I don’t recall having a DUNS number for that application.
James McGuire
40:05
I see Transportation (such as a charter bus company), and Recreation (like a sports team/club), and Accommodation (like a hotel) are severely impacted industries. I don’t see mentioned travel agencies or travel management companies, or events/meetings companies. Are companies labeled as these also included as the previous three severely impacted companies?
Steve Bienenfeld
40:24
I only see a 6-digit NAISC number. Where is the 3-digit code?
Rochelle Blease
41:03
Hi Patricia- you may have a DUNS number already but don't remember it/can't find it. You can use the Dun & Bradstreet website to look up your DUNS number if you think you already have one, and also request one if you do not already have one: https://www.dnb.com/duns-number.html
Patricia Yeoman
41:32
Thank you
Kara Kunst
42:01
Hi Steve, your 3-digit NAICS code is the first three-digits of the six-digit code.
Steve Bienenfeld
42:29
Thanks, Kara
Rochelle Blease
43:11
Hi Kevin, the NAICS code for fitness and recreational sports centers is 713940.
Luz Santana
43:48
what if your business is seasonal? and Q1 doesn’t reflect the number employees you need now
Kevin Perry
43:53
I have 10 people who are on 1099 that work on average of 6-8 hours per week. How does that get calculated. They are yoga teachers and instructors
Justin Dalton-Ameen
44:00
what if my business opened May 25, 2019? DO I use Q1 2020 or just the month I was open in 2019
Mary O'Sullivan
44:20
Yes, I use contractors, several different ones.
Kevin Perry
44:25
Thanks!
Lauren Pearlman
45:50
should sole proprietors use their ss# or EIN as tax id?
james dean
47:16
I have PPP loan Would my DUNS number be on my PPP application, its not listed on the Dun and Bradstreet website
Luz Santana
47:50
is this going to be based on owners personal credit?
Kevin Perry
49:30
I got an extension on my tax return. Should I provide the extension information
Kara Kunst
49:56
Hi Luz, No, the owner's credit score is not a factor in approving or denying the grant application.
Luz Santana
50:24
Do you need to provide this info for all owners or just for the person submitting the application
David Morin
50:35
Is Payroll a part of the Type category? From March 1?
Kevin Perry
52:08
Can't we just provide our P&L for 2019
Ralph Sullivan
53:02
Can you use the payroll that was not allowed in the PPP, ie federal and medical payments?
David Bertolini
53:03
It states that expenses cannot be the same as those covered by PPP and EIDL loans but it also states that we should submit higher value expenses such as rent. Rent was covered in PPP loans. This is a conflicting message. Can you explain this?
Kara Kunst
53:21
Hi Luz, the prequalification form will ask you to provide ownership information (name, email, percentage of ownership stake) for owners that own more than 20% of the business, but the more extensive documentation is only requested for the owner filling out the application.
Steve Bienenfeld
54:25
I filled out the estimator, but it said I qualified for $0.00 dollars. Why is that?
Kara Kunst
54:41
Hi David, there is some overlap with the PPP program's eligible expenses such as rent and utilities, but we have excluded payroll and compensation at this time from the grant program.
Sean Baxter
55:13
Steve click No your not a non profit
Patricia Yeoman
55:16
So if I only have two employees and only 30-50% impacted… I may only get $3500 in grant? not $15,000
Kara Kunst
55:35
Hi Steve, we have received some comments today that the calculator is giving some potentially eligible applicants errors and my colleagues are working very quickly to correct the issues.
Mary O'Sullivan
55:53
Patricia, it looks as if the grant amounts are quite low.
Ralph Sullivan
55:55
If PPP monies were used for JUST payroll, can we use rent/utilities for the RI Grant program?
Steve Bienenfeld
56:05
Thank you!
Lorraine Handwerger
56:08
Can I use my rent from March and April because my PPP loan was given to me until April 30th
Kara Kunst
56:09
Hi Patricia, Yes, the grant award is based on a formula of revenue loss and number of employees.
Kara Kunst
56:43
Hi Ralph, Yes, rent and utilities would be eligible expenses under the grant if PPP funds were not applied to those expenses.
Kara Kunst
57:30
Hi Lorraine, If your PPP funds were not used on your March and April rent, that rent would be an eligible expense under this program.
Kara Kunst
58:47
Hi Justin, in response to your question about which quarters to compare, you should compare Q1 and Q2 of 2020.
Mary O'Sullivan
59:54
Do we need an accountant to help us prepare this information?
Lorraine Handwerger
01:00:00
Do you happen to know if my rent from March and April are eligible for forgiveness on my PPP loan if I didn’t receive the loan until the end of April?
Maria Dodson
01:00:19
Please post the excel format on line for everyone to download
Steve
01:01:40
What if most revenue was made during other quarters of 2019?
Ray Gorman
01:01:46
You don't necessarily need an accountant. There are SCORE mentors and other organizations that are available to help you.
Mary O'Sullivan
01:02:13
Thanks, Ray. It seems complicated .
Isabel Ribeiro
01:02:20
I have an agency and averyone is 1099 but the company sent the 1099 no my agency, we use the office for training, to meet with clients and pick up materials, some of the agent have an office. do I qualify to apply for the grant?
Rochelle Blease
01:02:41
You can also send questions to info@commerceri.com
Luz Santana
01:02:47
what if the owner works at the business but doesn’t pay themselves are you able to count yourself as an FTE?
Kara Kunst
01:02:49
Info@commerceri.com
mark Brodeur
01:02:56
does an LLC need to have an employee in addition to the owner
Kara Kunst
01:02:58
And the phone number of 401-521-HELP
John Arakelian
01:03:38
If you have used the PPP $ for rent electricity ,gas,oil water and sewer what else is left for expenses? Anyone care to input on this question
Teri Terrien - SCORE Rhode Island
01:03:43
Visit www.ri.score.org for mentoring
EDWARD PASSARELLI
01:03:54
I have 2 locations under one LLC Entity. Would this be treated as one "business". This was the case with the PPP loan.
EDWARD PASSARELLI
01:04:59
There would only be one 941 with the one LLC
pq
01:05:44
John, I used the PPP $ for benefits to, not just utilities
Craig Hockenbrough
01:05:52
Is Kara saying that we could qualify for multiple grants, e.g. we have 3 locations and could get up to $15K each? They are all under the same LLC.
John Arakelian
01:06:08
what do you do if you lease all of your employees and have no one on your actual payroll
Ralph Sullivan
01:06:35
Acceptable expenses, technology upgrade? PPE products, Plexiglas, gloves, sanitizer, cleaning supplies, inventory?
Steve Marmas
01:07:08
You mentioned that there may be a later program for Sole proprietor with NO employees. Do you know when that will be available?
John Arakelian
01:07:27
Inventory ?
Jennifer Ortiz
01:07:30
EIDL also?
Rochelle Blease
01:07:40
No specific information at this time no a program for sole proprietors
Phill
01:07:58
Earlier it was mentioned that plans were being considered for sole proprietors with no employees. Anything you can say on that? ie. My fathers a travel agent who's been severely impacted for the year and foreseeable future.
Doris Blanchard
01:08:06
If I have more than one Rhode Island location, may I receive more than one grant?Applicants with common ownership may receive grants for up to three locations.
Carl Salvo
01:08:49
what's the expected average grant $ amount
pq
01:09:20
IS THE GRANT TAXABLE?
Maria Dodson
01:09:22
Did you make corrections to the NAICS code listings so travel agencies are included??
Sean Baxter
01:09:37
Restaurant we had to throw out 8 thousand dollars in food -can we use that expense for food replacement
Richard Schultz
01:09:43
If I use multiple 1099 employees but for various amounts of time during Q1 2020 (+/- 10 1099 employees but some only for 20 hours total and others for 100+ hours
EDWARD PASSARELLI
01:10:14
Would there be any reason to show all expenses above $15,000 for possible future grants.
pq
01:10:25
Thank you .
Sean Baxter
01:10:26
Dumpster and landscape expense?
Carl Salvo
01:10:40
Does the grant have to be paid back
Luz Santana
01:10:53
Did you guys answer the question about seasonal FTE number
james mutschler
01:11:08
Kara, Secretary Pryor recommended that applicants submit expenses which exceed the grant amount, so that if one expense is excluded, there should still be enough documentation submitted to support the loan amount. This avoids a delay in funding. Could you explain that to the group?
James McGuire
01:11:12
can business once booked and later canceled, be counted as an eligible expense for loss of fee/commissions?
denise viveiros
01:11:44
I received a ppp loan. Where do I find the DUNS #
Lori Ann Golda
01:12:35
what about seasonal businesses that are only open in April?
James McGuire
01:13:01
NAICS - are travel agencies included as severely impacted?
Ray Gorman
01:13:02
For some companies, one large allowable expense is the cost of materials used in producing your product, for example the food purchased by a restaurant.
Carl Salvo
01:13:37
what the definition of grant?
Kevin Perry
01:14:19
My wife works full time but doesn't pay herself due to cashflow. Paychex would not reflect a full time but she definitely works full time. How do we handle
Patricia Yeoman
01:14:32
Could a sale of a luxury item that was cancelled by a buyer because of covid, which greatly impacted our income, be counted as a loss of revenue?
Luz Santana
01:15:12
I have same question as Kevin Perry
Justin Dalton-Ameen
01:15:46
if i opened my business may 25, 2019 would i use Q2 2019 or Q1 2020 for revenues
Carl Salvo
01:16:19
Is the grant being expected to be paid back??
John Arakelian
01:16:33
SO would Purchasing inventory for a manufacturing company be included too
Rochelle Blease
01:18:08
Carl- the grant is not expected to be paid back.
Ray Gorman
01:18:14
Yes if it's in your cost of goods sold
Sean Baxter
01:18:36
We had to have all the beer lines , soda lines changed before we reopened and lost all kegs stale from sitting since March the replacement of beer inventory is this a good expense?
Carl Salvo
01:19:02
Are these funds being expected to be paid back?
Kara Kunst
01:19:27
Hi Sean, Yes, replacing those lines and the inventory would count as eligible expenses.
Sean Baxter
01:19:38
Thank you
Craig Hockenbrough
01:19:41
My payroll company submits our quarterly IRS 941 electronically, and the summary confirmation that they provide does not include employee counts. How do I get that info by Monday?
Christopher Mejias
01:19:43
Carl. Your answer has been answered. No.Featured snippet from the webA grant is an award, usually financial, given by one entity (typically a company, foundation, or government) to an individual or a company to facilitate a goal or incentivize performance. Grants are essentially gifts that do not have to be paid back, under most conditions.
Lauren Pearlman
01:20:05
Thank you everyone!
Richard Schultz
01:20:05
When would people be available to answer detailed questions at Score?
John Arakelian
01:20:15
thank you
Luz Santana
01:20:24
thanks!
Denise Barge
01:20:28
Grants do not have to be repaid. It will be taxable however