Zoom Logo

Paycheck Protection Program & Lendistry Info Session - Shared screen with speaker view
Marla S. Hamilton
27:18
Welcome everyone!
Jazmund Walker
30:06
Thank you all for joining us this evening! -- PIDC marketing team
Jazmund Walker
34:39
PIDC RESOURCES:PIDC Business Resource Library for COVID-19: www.pidcphila.com/covid-19PIDC social media: @PIDCPhilaPIDC newsletter registration: http://www.pidcphila.com/tools/newsletterPIDC webinars: pidcphila.com/events
Marla S. Hamilton
38:03
www.mylendistry.com
Jazmund Walker
38:10
We are glad to have Lendistry join us as featured presenters this evening! You may find more information on Lendistry and their loan applications at www.mylendistry.com -- PIDC marketing team
Patricia Grisoff
46:12
I am registered as LLC with husband, who has passed away. Am I now considered a Sole Proprietor?
Marla S. Hamilton
48:21
TEMPLE UNIVERSITY SBDCsbdc@temple.eduRegister as a client:https://pasbdc.ecenterdirect.com/signup/Zoom Open Office Hours • Mon-Fri, 3-5pm:https://www.fox.temple.edu/iSBDC
Jamie Shanker-Passero
49:22
This is the Temple SBDC, there is no longer an SBDC at Penn. Our center is happy to help. This is our resource page which is updated daily and includes links to our daily virtual office hours- http://bit.ly/covid19smallbizresources
Quynh-Mai Nguyen
49:26
Don’t forget to raise your hand (button at bottom) to ask a question and I will be happy to unmute you. :)
Marla S. Hamilton
51:18
David, I don't think we yet know when the EIDL portal will reopen. SBA is processing EIDL Advance and Loan applications that are already in the queue on a first come, first served basis.
Marla S. Hamilton
56:49
Donna, please send your question through the chat.
Marla S. Hamilton
58:13
Nadia, please use the raise hand feature.
Marla S. Hamilton
01:01:47
Joseph, I'm sure we are clear on your question. The PPP is a 2-year loan unless the loan is forgiven.
Marla S. Hamilton
01:12:07
Heather, you do not have to hire the same people, but you must restore the headcount.
Marla S. Hamilton
01:13:41
Star, non-profit organizations are eligible.
Jamie Shanker-Passero
01:24:39
Wells was refunded for PPP
Marla S. Hamilton
01:27:53
Lori, we have a representative of the Temple University Small Business Development Center on this chat. My suggestion is that you connect with Jamie Shanker. Here is the contact information for Temple SBDC: TEMPLE UNIVERSITY SBDCsbdc@temple.eduRegister as a client:https://pasbdc.ecenterdirect.com/signup/Zoom Open Office Hours • Mon-Fri, 3-5pm:https://www.fox.temple.edu/iSBDC
Marla S. Hamilton
01:30:10
Theresa, the PPP is a 1% 2-year loan focused on payroll. If you comply with the rules for forgiveness, the loan may be forgiven. The EIDL is a 3.75% fixed rate loan with up to 30-years. It may be used for payroll as well as operating expenses. With the PPP at least 75% of the funds must be used for payroll with no more than 25% used for operating expenses -- rent, mortgage interest (but not the principal), and utilities.
Lindsay Yurcaba
01:31:44
In terms of forgiveness how are FTEs calculated? Is there a minimum number of hours/week for an employee to be considered full time?
Marla S. Hamilton
01:31:51
The PPP application must be submitted to a participating lender. The EIDL is submitted to the SBA, but that portal has not yet been reopened by the SBA.
Marla S. Hamilton
01:44:21
SBA inquiries for the EIDL: disastercustomerservice@sba.gov or 1.800.659.2955
Marla S. Hamilton
01:48:07
The SBA has not reopened the portal for the submission of the EIDL.
Jazmund Walker
01:54:18
Webinar Replay: https://pidcphilablog.com/business-builder-webinar-resources
Patricia Grisoff
01:54:52
Thank you very much!!
Jazmund Walker
01:54:54
Thank you ALL for attending! --PIDC marketing team
Tammy Fritz
01:55:12
thanks