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SBA Economic Injury Disaster Loan Overview
Nick Glew
01:06:03
Thanks everyone for joining. Your mics will be automatically muted so feel free to submit questions at the end of Dave's presentation to this chat area. Let's please see if those questions are answered through Dave's slides first. Thanks for joining us.
Mark Moore
01:17:12
audio is horrible
Jason Kofoed
01:17:19
choppy audio
Shaw Zierke
01:17:27
You are garbled right now
Kevin Sonnenberg
01:17:29
audio not good
Jo Eckert
01:17:32
Agree, Nick, you were very garbled.
Matthew Mccallum
01:17:44
Need fix audio
Sheri Osterkamp
01:18:23
Yes very bad audio
Shaw Zierke
01:19:09
better
Travis Salter
01:19:12
It's good from my end.
Kent Stock
01:19:14
better now
Melissa Winter
01:19:15
That's better
Andy Roach
01:19:18
it's fine here, Nick
Brandy Reggelsen
01:19:20
much better
Sheri Osterkamp
01:19:22
Much better
Dustin Kern
01:19:26
crystal clear now
Carrie Wilkinson
01:44:59
nick unmute
Sheri Osterkamp
01:45:00
NO SOUND
Jo Eckert
01:45:02
Nick you are muted
Dustin Kern
01:45:04
Nick un mute
Rhonda Kendrick
01:45:09
can’t hear. you
Maxwell Grant
01:45:12
Unmute Nick
PAMELA ENGELBART
01:45:17
I can't hear Nick speaking
Kevin Sonnenberg
01:45:36
Are they considering streamlining the application. I hear told 2 page application possible?
Matthew Mccallum
01:45:45
Can we print the Slide Show
Susan Tyrrell
01:45:50
How long does the process take and how do I get connected from SBA to my banker. Sorry if I missed it.
Carrie Wilkinson
01:45:54
Would you be able to send out the presentation? I was late getting connected?
Mark Kaydo
01:46:41
I would love a copy of this presentation
Nick Glew
01:47:01
We will have the presentation posted momentarily to our COVID-19 Resource page at www.medcoiowa.org.
Robyn Jacobson
01:47:52
thanks Nick for setting this up. very helpful.
Shaw Zierke
01:48:10
Question: If you are a sole proprietor and you've had identity theft and the 4506-T is never honored, will an error message be the result once this is submitted?
Nick Glew
01:52:09
The slides from today's webinar can now be downloaded from www.medcoiowa.org. Go to our COVID-19 resource page. It's the button at the top.
Aaron Baumert
01:53:47
Scott - Any suggestions on how the borrower can determine the size of a disaster loan will be needed?
Carrie Wilkinson
01:57:51
@Nick Glew, not seeing the slides.
Shannon Devereaux
01:58:34
Has anyone else already applied? I have a case number but still haven’t received a confirmation email. Tried logging into the website but, it keeps crashing….which is not surprising
scott swenson
01:58:36
High level cash flow projections would include Expected cash coming in less cash expenses on a monthly basis. So think about accounts receivable payments versus a normal period. You're probably going to see diminished cash collections in addition to diminished sales.
Emily Russ
01:58:50
Carrie - very top button here: https://www.medcoiowa.org/forms/covid-19-updates/
Carrie Wilkinson
01:59:29
Thank you Emily Russ
Ed Leighton-Dick
02:00:28
My business is an LLC with an S-Corp election. Which type of business do I list on this form?
Steve Scott
02:01:22
Does a real estate operating company, i.e. an owner/landlord as differentiated from a developer, qualify for the disaster loan assistance. In particular I represent multiple shopping center owners whose tenants have been required to close and therefore are struggling to pay rent.
Molly Kapoor
02:03:42
I own business in Iowa and California, do I apply separate or can I just apply here. The businesses are under separate LLCs
Jon Eckhoff
02:04:59
When will the qualifying non-profits (501c3, 501c4, 501c6, etc.) be determined?
Molly Kapoor
02:05:14
can you give us an ideas of how many weeks it will take for SBA to disburse funds
Scott Kruger
02:05:34
Nonprofits are eligible but charitable orgs are not? Would you clarify what 501s are eligible?Would using business owned real estate be allowed as collateral and would this have the same requirements as a mortgage? (Property is not mortgaged currently).
Jamie Jonas
02:09:17
If the business's local bank makes a short-term loan related to the economic injury, can it be paid off fully with the SBA disaster loan?
Matthew Mccallum
02:09:31
What is % of loan to value on Commercial Real Estate?
scott swenson
02:10:48
Dave, is there a processing benefit to online applications versus mailed applications?
Andy Roach
02:10:58
Are the SBA fees and guarantee percentages the same as 7(a) loans?
Molly Kapoor
02:11:52
my business does not own real estate, it is in leased space - can I use the business itself as a collateral,
Steve Scott
02:13:36
I tried filling out the 4506 form on Saturday but it would not allow electronic signature. Is that functional yet?
Judy Lubben
02:13:59
Will we have access to this video?
Mike Mesch
02:14:36
Do the banks have folks who can walk clients through the application process? either in person or over the phone?
Shannon Devereaux
02:14:43
Has anyone else completed the form? I did Saturday night and have NOT received a confirmation email…..but I have a case number. Just want to know if it went through successfully
Shannon Devereaux
02:16:53
The system won’t load
Shannon Devereaux
02:16:58
But thanks:)
Lydia Barger
02:18:16
The IRS is very picky in how the 4506T is filled out. All information entered must match last year of taxes filed, i.e. name/address/etc. or IRS will reject it and that rejection notice will come a few days later. A lack of confirmation might mean something isn't just right.