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SFA Lender Panel - Shared screen with speaker view
April Veilleux - Search Fund Alliance
15:22
Hi All, please feel free to send me your questions directly via private chat. Thanks!
Atta Tarki
41:11
Hi Chris, you mentioned that employees through PEOs are most likely included in the calc. Is there any guidance around on-shore vs. off-shore employees?
Frank van Lint - member
44:04
Do you have to put the money from the PPP in a special bank account to demonstrate how you used it. If it goes into the checking account it mixes with other money and difficult to say how you used that PP money.
Clayton Sachs
45:05
Hello, question: has any guidance been released on how to define whether or not a business can attest to the following sentence in the PPP application: "Current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant."
heather.endresen
54:57
Clayton, we are using self certification of this in our process, yes
heather.endresen
55:28
Atta, off-shore employees ae not eligible for PPP, but PEO on-shore employees are
Seena M
55:36
Does the 20% ownership affiliate rule apply to entities or just individuals? In the case where the "search fund" entity owns >20% of the "operating entity" applying for the PPP, how is that viewed with respect to the affiliate rule? (these are two separate LLCs)
heather.endresen
56:35
Seena, SBA requires us to drill down to invidual % ownership
Seena M
57:34
So if there are no individuals owning the LLC that is applying for the PPP, then does the affiliate rule not apply?
heather.endresen
58:25
Seena, sorry to confuse you. We'd drill down through all entities to get to the individual owners
Seena M
01:01:57
So we would have to "peel the onion" into each entity and what ownership each individual has at the "search fund" entity to determine if they have >20% in the "operating entity"?
heather.endresen
01:02:12
Seena, yes, that is correct
Seena M
01:02:19
Thank you!
Harold Mottet
01:16:19
There's an alternative to the PPP forgivable loan, that is a 10,000 retention tax credit for keeping people employed...should we be looking at that instead of the PPP forgivable loan?
Harold Mottet
01:17:24
It's the section 2301 Refundable Employee Retention Tax Credit...is it a better alternative?
petersherwood
01:23:00
anyone aware of AWS helping with payment terms?
Explora Bio
01:23:06
Generous of the insurance guys to share their float . . .
Meghanne
01:33:47
If there's a corporation in between the search fund entity and the operating company, do we have to describe our total ownership structure, including C corps and LLCs in the middle of the ownership structure? Or can we just go straight to the search fund entity regarding the paperwork?
heather.endresen
01:34:53
Meghanne, the SBA peels the onion all the way down to every individual's % ownership. You may want to create an org chart to demonstrate