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Bruce Sommer's Personal Meeting Room - Shared screen with speaker view
Bhattacharya, Somnath
31:57
Will Kevin be able to share his slides with the audience at the end of the presentation? Thank you.
Bruce Sommer
33:01
Yes. This is being recorded.
Katie Davison
34:06
I thought Springfield did (surprisingly) receive this.
Katie Davison
34:38
https://www.centralillinoisproud.com/news/local-news/rep-lahood-announces-grant-funding-for-twin-cities-peoria-springfield-in-response-to-covid-19-pandemic/
Bruce Sommer
35:59
We will provide slides for everyone on our website and I can email them by request. Please just email me at Bruce.Sommer@uis.edu
bethanymurphy
39:05
Will businesses that engage in video gaming be eligible for these loans?
Bhattacharya, Somnath
43:35
Should be … any small business I would think.
Bruce Sommer
46:55
Please feel free to ask any question of our speakers via this chat room. I will monitor and ask during our Q&A time at the end.
kirkkellus
54:55
75% needs to be used for payroll expense. What can the other 25% be used for?
Gabrielle Dinardo
55:25
As an independent contractor, I have tried to apply for unemployment. I have heard multiple things as far as when to apply. Should I reapply at a later date? And if so what date?
Katie - ESP Accounting
56:07
I want to mention that you cannot get tax credits on payroll forgiven under the 7a loans.Please contact your tax advisors on what may be the best choice for you.
Kevin Lust
56:43
Operations with video gaming cannot have more than 33% of revenue to be eligible. May have changed
Rusty Jones
57:05
are contractors considered payroll?
Katie - ESP Accounting
57:16
No
Darrin Burnett
57:20
How much of the $349b does this area have to spend?
Darrin Burnett
57:42
Also, did Mike say where the sample app is located?
Kevin Lust
58:10
25% may be used for rent, mortgage, and utilities
Kevin Lust
58:43
Sample app https://www.sba.gov/sites/default/files/2020-03/Borrower%20Paycheck%20Protection%20Program%20Application_0.pdf
Karen Witter
59:05
Will every entity that applies and meets the criteria be approved?
kirkkellus
01:00:00
Thank you
Kevin Lust
01:00:04
Funds dedicated to SBA programs are available across the country. No distributions to particular areas
Kevin Lust
01:01:15
SBA has said they are being "lenient" in approving EIDL. Haven't heard what underwriting standards are for PPP.
Kevin Lust
01:02:17
I'll defer on unemployment questions to IDES
Kevin Lust
01:03:00
Independent contractors will be ableto apply for PPP
Siri Engstrom
01:03:58
Could funds be used for employee benefits? Would this include IRA contributions or health insurance?
Kevin Lust
01:04:06
Non government non-profits are eligible for PPP
Kevin Lust
01:05:55
Benefits are included with payroll
Katie - ESP Accounting
01:07:21
What was the ETA on guidance from SBA?
Kevin Lust
01:07:53
"Still to be determined.."
Kevin Lust
01:07:59
Friday
mairead
01:08:05
How would tips be able to be calculated in payroll calculations? Would employers be able to supplement this for employees with loan
jhunt
01:08:44
sba just sent email saying webinar 2:00 tomorow
Kevin Lust
01:09:31
I do not have guidance on tips. I will ask our SBA contact.
jhunt
01:09:51
The SBA office is arranging to have a webinar on the PPP along with some CAFS information tomorrow at 2pm. https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
Bob Podlasek
01:10:10
Tips?
Jorge V
01:16:47
Thank you so much to all our speakers and Bruce!
Greg Bishop
01:16:50
Thanks for the presentation, everyone!
Tom Bushkie
01:16:53
Thanks everyone...very informative
TRACY FORMEA
01:17:14
Great information! Thank you!
Brown, Hay & Stephens
01:17:18
Great program.
Chris McDowell
01:17:58
file:///Users/christophermcdowell/Downloads/COVID-19_daily%20update_3-31-20.pdf
Bob Podlasek
01:18:13
Thank You Bruce
Chris McDowell
01:18:43
13 Sangamon COVID-19 cases; 4 regional cases; 17 total as of 3/31
z
01:19:10
Thank you. Great information from all