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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.
audio is horrible
You are garbled right now
audio not good
Agree, Nick, you were very garbled.
Need fix audio
Yes very bad audio
It's good from my end.
it's fine here, Nick
crystal clear now
Nick you are muted
Nick un mute
can’t hear. you
I can't hear Nick speaking
Are they considering streamlining the application. I hear told 2 page application possible?
Can we print the Slide Show
How long does the process take and how do I get connected from SBA to my banker. Sorry if I missed it.
Would you be able to send out the presentation? I was late getting connected?
I would love a copy of this presentation
We will have the presentation posted momentarily to our COVID-19 Resource page at www.medcoiowa.org.
thanks Nick for setting this up. very helpful.
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?
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.
Scott - Any suggestions on how the borrower can determine the size of a disaster loan will be needed?
@Nick Glew, not seeing the slides.
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
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.
Carrie - very top button here: https://www.medcoiowa.org/forms/covid-19-updates/
Thank you Emily Russ
My business is an LLC with an S-Corp election. Which type of business do I list on this form?
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.
I own business in Iowa and California, do I apply separate or can I just apply here. The businesses are under separate LLCs
When will the qualifying non-profits (501c3, 501c4, 501c6, etc.) be determined?
can you give us an ideas of how many weeks it will take for SBA to disburse funds
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).
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?
What is % of loan to value on Commercial Real Estate?
Dave, is there a processing benefit to online applications versus mailed applications?
Are the SBA fees and guarantee percentages the same as 7(a) loans?
my business does not own real estate, it is in leased space - can I use the business itself as a collateral,
I tried filling out the 4506 form on Saturday but it would not allow electronic signature. Is that functional yet?
Will we have access to this video?
Do the banks have folks who can walk clients through the application process? either in person or over the phone?
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
The system won’t load
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.