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COVID-19 Small Business Forum Webinar Series - Shared screen with speaker view
David Betancourt
28:57
ENTER QUESTIONS HERE
Stacie Simons Segall
29:20
How long from processing to funding?
Kendra Green
29:22
are there preferred lenders, or a list we can access, for those who don’t currently have banking relationships with the larger banks?
Christian Wolf
29:36
Our bank isn't currently offering SBA loans. How do I apply for PPP
Anacani Mateo
29:37
Do all applicants need to submit a 1040-C?
Francisco Perez
29:38
I will like to know if I pay myself cash do I still count as an empoyee
Steven Jones
29:48
Hello Bryan, I am a Wells Fargo small biz customer. Your website says that you have filled your quota and I cannot fill out an application with WF.
Agatha Perez
29:58
Hello. Our organization has 3 accounts with 3 different banks. Can we apply at all 3 to ensure we get funded or is it not recommended? Obviously I know we can only have one PPP loan.
Amelia Diaz
30:06
Will we be notified if more information is needed for the PPP application
Genevieve Riutort
30:08
We are getting mixed messages from our Wells Fargo representatives. We are a nonprofit and have heard that Wells Fargo, our bank, has reached it's limit on the number of applications it is allowed to process. Is this true?
Allan Dallatorre
30:32
How about Chase?
Eric Rosen
30:35
I’m a Wells Fargo customer and I’m trying to submit an application with WF, but I’ve been told I’m in a queue and they cannot yet begin my application and WF may not have enough money for me. How can you help?
Amelia Diaz
31:17
Chase is our business banking account, but they have not contacted me. . . can I go to another lender that has already contacted me
jeff seale
31:19
Do PEOs qualify for the PPP?
Anacani Mateo
31:26
Can this loan be used to pay contractors or only employees? How would that be determined? If for example they were contractors at the end of 2019 but became employees in 2020?
Tammy Dickerson
31:41
I am a Wells Fargo business client for over 20 years. Your PPP portal says the application is closed, will you re-open? It was only open for 1 day. How are you giving existing customers an opportunity to apply?
ELIZABETH SCHILLING
31:45
if I do not have a loan, can I still apply? are banks only accepting apps from existing loan customers?
gina rothwell
31:55
my one employee and I have applied for unemployment, can I still submit an application for payroll and rent help? should I end unemployment even if we didn't get a check yet?
Fred Denitz
32:27
Banks are saying that you have to have a pre-existing business borrowing relationship. This seems to discriminate.
Steven D Turner
32:38
I have a list of loan brokers that reportedly are able to process these PPP applications through approved lenders.
Chip Schulte
32:43
My company is a 20 year customer of Wells Fargo. How do I connect to Wells Fargo with regard to the Payroll Protection Program and an increase in our Credit Line & receive a lower rate?
Kaye Lewis
32:47
Gina, in the last webinar that was suggested by one of the banker presenters.
Kim Watson
32:49
I haven't been able to access WF online. It says system down for past couple of days and again when I checked this AM. I also bank with Chase and US Bank. I was able to apply for PPP with Chase.
Aida Absi
32:50
I have a small business I have 5 individuals on payroll and 18 through a temp agency. Do all my employees qualify for the payroll protection plan? The temp agency has over 500 employes so they are not applying. ALso if yes they are able to provide a payroll summary is that sufficient ?
Mary
32:59
I'm self-employed, sole proprietor. I have my mortgage through WF but no business relationship. What do I need to do to apply for PPP?
Alycia Beutler
33:13
If I own a partnership with two other partners, and have no one else on our payroll, are we eligible for any of these loans? And if so, are they forgivable if we do not spend the money on rent/overhead costs since we do not have any, we just split all our profits amongst the partners. Thanks!
Ken Winett
33:13
how can restaurants get SBA loans while we are not allowed to operate unless pick up orders and deliveries which doesn’t require many people to operate?be
Cynthia Sanchez
33:29
why has WF stoped taking SBA loans?
Allan Dallatorre
33:39
Can sole proprietors apply?
Barbara Bruderlin
33:56
I heard WF has stopped accepting PPP applications. True?
Erica Moore
34:03
I am a sole proprietor and applied for the EIDL. I listed 0 for employees as my 19 workers are 1099s. Do we all apply for PPP or?
Ken Winett
34:07
can you please record this?
Jonathon Aubry
34:33
They are limiting them to small businesses with 50 or less employees but there is no clarity if they will accept you if you are in the “que"
John Bwarie - Dr. Lucy Jones Center
34:49
This webinar will be recorded, posted, and emailed out to all attendees.
Ryan L
35:02
Is this being recorded?
Corrado Giovannoni
35:21
Is this webinar going to cover the EIDL 10K Loan Advance?
Donald Duckworth
36:04
Are 501c6 business improvement districts eligible for PPP?
Mark Garcia
36:21
Will you cover Form 1099 employees?
Kendra Green
36:34
how do we calculate costs for businesses that were started this year?
Kaye Lewis
36:35
Has anyone applied for the Verizon grant?
Elianne Rodriguez | Bixel Exchange
36:39
501c6s are not eligible
Kendra Green
36:39
I did
Kaye Lewis
36:50
Have you heard back?
Kendra Green
37:00
no, just said it was being processed
Kaye Lewis
37:06
Thx
Kendra Green
37:09
np
Alejandro Triay
37:15
Does this include paying yourself or ONLY employees?
Aida Absi
37:28
I have a small business I have 5 individuals on payroll and 18 through a temp agency. Do all my employees qualify for the payroll protection plan? The temp agency has over 500 employes so they are not applying. ALso if yes they are able to provide a payroll summary is that sufficient ?
Wanda Green
38:05
Are we actually applying to an individual bank or to SBA and they process the application?
Aida Absi
38:08
what if the temp agency has over 500 employees
Aida Absi
38:18
They are not applying
Oscar Gutierrez
38:25
For loan forgiveness of a Non Essential business when does the 8 weeks of P/R start . B of A says it’s based upon first 8 weeks after funding . If employees cannot work due to CA mandate why not start 8 wk after emp is rehired but before June 30th ?
jim landis
38:53
Rent is typically the largest cost of small businesses. What is a summary of how small businesses are dealing with landlords: 1 Federal, State or County relief. 2. Legal relief in the form or deferred or forgiven penalties or the like
Jill Carlton
39:04
In calculating the salary from our payroll processing report, what can be included, as in taxes, workers comp, etc?
Aida Absi
39:45
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
Jason Kendziera
39:50
If I’m legally a single-member LLC but file a Schedule C for IRS purposes to I say I’m a LLC or sole prop on PPP application?
Khalid Elias
40:23
@Tammy: Because there is only a limited amount of funds approved by the SBA for the PPP and because Wells Fargo is targetingt to distribute a total of $10 billion to small business customers under the requirements of the PPP, you may want to apply elsewhere to increase your chances of recieving a loan before the funds run out.
Steven D Turner
41:12
@Tammy, I'll email you a list of loan brokers. A few of them were on an Anderson eBlast.
JASON FUJIMOTO
41:13
For Landlords that have been forgiving or deferring rental payments, is there a program that we could qualify for to pay for property taxes, mortgage payments and general operational costs? We have no employees.
David Richardson
41:20
Can we apply with more than one lender but only accept the loan from the one that processes it the fastest?
Yasmin Delahoussaye
42:30
Where do we calculate our rent, health care costs, etc. on the application?
Wanda Green
42:36
What if I don't have payroll?
Elianne Rodriguez | Bixel Exchange
42:49
you can apply to multiple lenders and decide which loan you take
jim landis
43:37
I am a CA LLC filing Federal returns to the IRS as an S Corp. The PPP form has an either/or check list of LLC & S Corp. Which do I select as you cannot check of both?
Elianne Rodriguez | Bixel Exchange
43:54
You can calculate off line and then put in the total amount
Orawan Kidjapipat
45:05
EIDL ? It's $10,000 emergency fund from SBA disaster loan?
Alexia Armstrong Cortes
45:30
Can you please clarify more about 8-week forgiveness vs. the 2.5x and the allowable expense of 25% on fixed costs that is also forgivable?
Jill Carlton
45:49
Due to AB5, we changed from 1099 to employees on 1/1. How do we best calculate payroll? At what date should you use for the employee count, 2019, 2/14 or current?
Marsha Hansen
46:04
We were told at another meeting this morning that some banks were only offering the loan process to existing customers however, SBA just widened the requirements so more banks can participate including community banks and not just to current clients.
Genevieve Riutort
46:38
Do we have to apply for the full 2.5 times or can we restrict our application for the 8 week period that is the forgivable amount?
Clifton Albright
46:41
Wells Fargo closed their online application website within hours after makng it available. Why was it shut down so quickly and when will it be reopeed.
Oscar Gutierrez
46:46
As part of P/R costs it mentions “ cash “ tips How is that different than tips added to Credit card transaction ? If tips , wether cash or CC , are paid by customer not business why included in calculation ?
Aida Absi
47:15
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
Yasmin Delahoussaye
47:29
Do I leave ownership blank? Nonprofits don’t have an owner.
Cynthia Sanchez
47:35
who is considered the “owner” in a non profit?
David Richardson
47:36
I thought the $10K EIDL forgivable loan advance was to be deposited into one's business bank account within 3 business days. I applied online the day it was first available but have yet to see a deposit in my account. Have others received these funds? If not, to whom do we inquire about the funding?
Alexia Armstrong Cortes
47:38
What do nonprofits fill in for “owners”?
Elianne Rodriguez | Bixel Exchange
47:40
Every lender has their own criteria, the recommendation is to go to your existing banker first since you have a relationship.
Eric Rosen
47:55
is number of employees from 2019 or current?
Elizabeth Gaudio
47:59
Where does this form get uploaded for Wells Fargo>. Couldn’t find it on website?
Aneela Velji
48:05
please explain business name again? corporation name?
Orawan Kidjapipat
48:14
Number of Employee until what date?
Aida Absi
48:28
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
Chip Schulte
48:47
What does EIDL mean? Is it forgivable?
Elianne Rodriguez | Bixel Exchange
48:48
David, reach out to the SBA and ask for your case manager they can tell you where your application is in the pipeline
John Bwarie - Dr. Lucy Jones Center
49:03
We are tracking questions and will answer as many as we can on this webinar.
Tammy Dickerson
49:31
If we applied for the EDIL Loan, how can we check on status of the loan? What is the processing time. It has been about 8 days and no response on status. Thank you
Elizabeth Gaudio
49:50
what if a 20% investor doesn’t want to supply information and is not involved in the operation of business?
Alexia Armstrong Cortes
49:54
Thank you. How will nonprofits consider part-time employees, including Public Allies and AmeriCorps employees when calculating payroll?
Jerry Cornejo
50:07
Will we also be going over the EIDL program?
Joseph Kim
50:30
What if the client has a current tax lien. Is this a disqualifier for the PPP?
Caren Spilsbury
50:35
one of our members received an email from their bank that said they are not able to process their application at this time, but they will remain in the queue.It was from Wells Fargo, do you know when they will start taking applications?
Barbara Moran
51:04
If we applied for the EIDL last week and the "box to check" was there for the $10K (now known as PPP), do we need to apply again, specific to/for the PPP? Thank you.
Lara Weithorn
51:22
Wold be great if he addressed every applicable question for SELF-EMPLOYED, along with Smalll Biz. I can find small biz info everywhere online, but not for self-employed . EG how does self-employed anger “payroll questions?
Michelle Farrell
51:22
What to do if our bank is giving us NO information about when it will accept applications and money WILL run out. Who do we contact to complain? What are we supposed to when we the bank is not helping.
Ellen Vivero
51:49
can we include payroll taxes(fed) in the calculation of payroll costs
Anacani Mateo
51:52
The EIDL loan seems to include contractors 1099-MISC recipients. Can you apply for the EIDL as a contractor and apply for a PPP as another entity (i.e. a Corporation) for which you are over 20% an owner?
Oscar Gutierrez
52:10
Logic behind essential business ex - CPA firm , they are still working no impact to revenue yet they can apply and get free money through forgiveness that is needed by non essential that are shut down and have zero revenue . I know plenty that are doing that
Elianne Rodriguez | Bixel Exchange
52:27
The SBA has been heavily impacted and they are working through the applications, time varies but definitely be patient as all systems are overloaded.
Lara Weithorn
53:23
What’s difference btwn “sole-prop” and “self-employed” for this purposes? For most purposes it interchangeable, but this loan (and my bank) seems to be treating it differently. Eg Sole-prop could apply on the 3rd, but my bank said I could not.
MarySue Milliken
53:33
the goal is to employ as close to 100% as possible during the 8 wk period starting when the loan funds, right? if we employ 75% (of 2019 ave monthly payroll) we still get forgiveness for all wages/benefits paid out during the 8 week period, right? what happens if those employees get laid off or furloughed after the 8 week period?
Barbara Bruderlin
53:54
Do general contractors have to write themselves a paycheck in order to qualify?
Aaron Kastelic
53:57
Can owners retroactively be considered 1099 contractors and factored in to payroll calculations?
Jeff Russell
54:27
Wells Fargo has rejected our request to submit PPP paperwork. What do we do?
Moninder Birdi
54:55
We are with ADP so don't have our own IRS 941; will their quarterly wage and taxes report work?
Aida Absi
54:59
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
cottoniere
55:03
how do you count the 8 weeks from what date ?
David Richardson
55:12
Will the entire amount of the PPP be forgiven if all employees are back to full work by June 30th or does it have to be the 8 weeks from funding?
Jim Osterling
55:14
It seems that the PPL is not for a sole proprietor with no employees, only 1099 contractors. Is there a different loan program for a sole proprietor with no employees.
Aida Absi
55:19
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
Jacob Patterson
55:19
If we are a sole proprietor and our entire “payroll” is just what we spend on rent and utilities, how do we quantify the payroll amount?
Christian Wolf
55:27
This is the third webinar that I've attended on this subject and it seems that the same questions keep coming up but are not answered. 1) What do we do when our bank isn't offering SBA loans and are no help and 2) What do Non-Profits mark for ownership?
Tania Martenson
55:30
We are on the same boat as a lot of the participants in this webinar -- what do we do if Wells Fargo has stopped accepting applications and we do qualify for funds when looking at all the requirements
Kendra Green
55:41
how does the calculation work for businesses that were started in 2020?
Aida Absi
56:04
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
Wanda Green
56:10
Thank you
Charmaien Yamamoto
56:32
can ADP payroll processing fees be included in the average payroll amount?
Steven D Turner
56:33
Has anyone received funding through PPP?
Yasmin Delahoussaye
56:42
My bank still is not accepting applications. Can I switch to another lender?
Anacani Mateo
56:44
I see this Webinar is being recorded. Will the recording be shared with us to review again? If so, how soon will this recording be available?
Troy Davis
56:54
My company has not been able to apply through our Bank- Wells Fargo. Any suggestions on how to work that?
JASON FUJIMOTO
56:58
If a company has a savings account and/or access to a line of credit, would this disqualify a company from obtaining a loan (per the attestation of being greatly affected by COVID-19). Do companies only apply when funds dry up?
Elizabeth Gaudio
57:07
Answer on how to apply through Wells Fargo. Is there a link on website?
Elizabeth Gaudio
57:35
WE couldn’t apply through Wells Fargo and want to apply
Malissa Strong
57:42
Wells Fargo has hit their cap and is no longer taking apps as I understand.
Elianne Rodriguez | Bixel Exchange
57:42
This webinar is being recorded and will be sent to all of you as after
Avi A
58:19
WHERE DO YOU APPLY TO GET A GRANT?
david mashhadian
58:26
Can you apply to a BANK if you don’t have a business account with that Bank?
Michelle Farrell
58:32
Union Bank is not giving us information
Elizabeth Gaudio
59:04
How can we upload the application through Wells Fargo?
Antonio Ruiz-Amador
59:17
Will independent contractors/self-employed be able to get Unemployment benefits from CA or Federal?
Alma Secundino
59:28
Where can we access the recorded webinar ?
Aida Absi
59:39
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
Scott Vanbeekom
59:41
Hi. Is the EIDL form that asked for A LOT of documentation and calculations the same as the more streamlined EIDL form with the $10,000 GRANT check box?
Elianne Rodriguez | Bixel Exchange
59:41
Yeah they are assigning cases to individuals so it is a pretty labor intensive process
Tristan Schukraft
59:47
kabbage is helping companies without any previous relationship
Lara Weithorn
59:48
Both Chase and BofA required applicants to have a “business act” and “biz loan” in order to apply, which not all with them. If we don’t, even though we hv our acts with them, will other lenders be requiring the same - for self-employed
Nancy Hernandez
01:00:02
Does it affect a business owner if they put in applications in 2 different banks
Katie Baad
01:00:09
Looks like Wells Fargo is no longer accepting PPP apps, is that correct? https://update.wf.com/coronavirus/paycheckprotectionprogram/?_ga=2.145698423.2106947460.1586280694-1138754985.1585787667
Oscar Gutierrez
01:00:23
Bryan answer the confusion about when 8 week window for calculating starts for shut down non essential companies . Thanks
Malissa Strong
01:00:51
it was my understanding that Wells has a 10B cap and it was reached just from Saturday to Monday
Nabii Bastet
01:01:28
can you apply directly with sba
Nancy Hernandez
01:01:32
What if they do business with both banks and applied for both? would that affect the business client?
Kendra Green
01:01:42
the banks I reached out to from that list aren’t participating in PPP. do we just go down the list?
Swaga Deb
01:02:03
What’d he click on to get to that page?
Elianne Rodriguez | Bixel Exchange
01:02:04
PPP is being released through banks and CDFIs
Lara Weithorn
01:02:08
I tried that last Friday. One bank has been closed for 2 yrs! And all the others have not yet reponded to my emails. Voicemail only on phone, and vm boxes full!!!
Chris Wright
01:02:19
I applied to B of A yesterday afternoon and received an email confirming the receipt of the application later in the evening. Also, while they originally said you had to have both a business banking account AND a lending relationship, they have now changed that to be only a business banking account and willingness to attest to not having a lending relationship with another bank.
Brendan H
01:02:38
Can I qualify for a PPP loan if I have been deferring my salary (due to lack of funds and revenue)? My salary is listed in the operating agreement for my LLC — have never collected, although I meet the other criteria as far as an established business relationship, etc.
krsitine halverson
01:02:54
Is there another cap for self employed? we are not able to apply until this Friday
Aida Absi
01:03:04
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
Anacani Mateo
01:04:01
Please answer if they have to file a 1040-C for this specific PPP loan.
Lea walker
01:04:15
what if your credit union where you have your business account isn’t yet offering them? they say they are working on it but have no timeline- First Entertainment Credit Union
Elizabeth Gaudio
01:04:27
Is Wells Fargo going to open up the application process again?
Sean Casey
01:04:39
I have a few contractors I’d like to hire on as employees - but would their lack on employment history with my company prevent their payroll from being considered?
Aida Absi
01:04:41
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
Brendan H
01:04:55
Can I qualify for a PPP loan if I have been deferring my salary (due to lack of funds and revenue)? My salary is listed in the operating agreement for my LLC — have never collected, although I meet the other criteria as far as an established business relationship, etc.
gina rothwell
01:05:00
i don't see Citibank as a lender and i have all my business banking there. will another bank work with me?
Steven D Turner
01:05:05
1040C is only applicable for specific business formation.
MarySue Milliken
01:05:08
we have already furloughed ALL our people because we closed all locations. when should we start paying them if we get the PPP loan we applied for? pay them to stay home when no monsy is coming is?
Mark Morales
01:05:08
1040 c is for sole proprietors
Elianne Rodriguez | Bixel Exchange
01:05:09
Sean, if they were not employees you cannot apply for PPP for them
Aida Absi
01:05:16
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
Brendan H
01:05:19
Can I qualify for a PPP loan if I have been deferring my salary (due to lack of funds and revenue)? My salary is listed in the operating agreement for my LLC — have never collected, although I meet the other criteria as far as an established business relationship, etc.
Wade Kyle
01:05:20
The spirit of the program includes mortgage forgiveness because rents have been told not to pay rents for up to 6months. How are landlords supposed to fill this out?
Lara Weithorn
01:05:23
How to calculate for self -employed
Elliot Zimmerman
01:05:25
Please review the calculations for seasonal business. Our peak season is typically June- August.
Lara Weithorn
01:05:45
We don’t usually “pay ourselves”. Just take “draws” as needed
Kelly Lee
01:05:49
can this chat group also share with us? since someone already asked the questions, would like to know the answers
Lara Weithorn
01:05:57
Net earnings?
John Bwarie - Dr. Lucy Jones Center
01:06:02
Yes, this chat will be shared as well.
Wanda Green
01:06:26
Some LOL here...Ummm, I wish I paid myself. I'm working for these dogs and rent!
Melinda Janowitz
01:06:36
For Sole Proprietor, do you fill out a SEPARATE PPP app from your Employees?
David Betancourt
01:06:43
The webinar will be recorded along with the chat and will be distributed through email, and also posted on the chamber and Dr. Lucy Jones website
Brendan H
01:06:57
Can I qualify for a PPP loan if I have been deferring my salary (due to lack of funds and revenue)? My salary is listed in the operating agreement for my LLC — have never collected, although I meet the other criteria as far as an established business relationship, etc.
Aida Absi
01:07:03
INDEPENDANT CONTRACTERS or Temp agency has over 500 so they are not applying. Can we apply for the employees that we hire through the temp agency?
John Wiley
01:07:33
Is there help with business Expenses thru SBA loans
Elianne Rodriguez | Bixel Exchange
01:08:00
Our Disaster Relief Team is helping clients through both PPP and EIDL
parvis ohal
01:08:18
Is there help with business Expenses thru SBA loans
Anacani Mateo
01:08:46
Thank you for holding this webinar and acknowledging our questions.
Lara Weithorn
01:08:47
Please define how is “payroll” calculated for “self-employed” or others who only pay themselves as needed.
Lara Weithorn
01:09:21
With NO actual “payroll”
Brendan H
01:09:37
Can I qualify for a PPP loan if I have been deferring my salary (due to lack of funds and revenue)? My salary is listed in the operating agreement for my LLC — have never collected, although I meet the other criteria as far as an established business relationship, etc.
Lara Weithorn
01:09:40
No 1099
Jill Carlton
01:10:03
Can we add in draw as owner? I am not on actual payroll?
Katie Baad
01:10:09
The SBA website says there will be relief for small businesses who hold existing 7a loans. Up to 6 months of principal and interest payment. How to we get access to this? Do we just stop paying our 7a mortgage loan?
Aida Absi
01:10:12
Temp agency \over 500
Ellen Rodriguez
01:10:13
My boss has 2 corporations of which he is 100% owner. How many PPP applications should we apply for?
Aida Absi
01:10:16
not applying
Brendan H
01:10:27
Can I qualify for a PPP loan if I have been deferring my salary (due to lack of funds and revenue)? My salary is listed in the operating agreement for my LLC — have never collected, although I meet the other criteria as far as an established business relationship, etc.
Nancy Hernandez
01:10:28
Is there any chance Wells Fargo re open for applications?
Mary
01:10:46
I'm self-employed. Do I use the total from my Schedule C and divide that by 12?
Wanda Green
01:10:54
Thank you again...David, you are on your mark this morning...Right on!
Alexia Armstrong Cortes
01:11:09
Can you please address how to calculate part-time employees into average monthly payroll? Thank you.
Jill Carlton
01:11:22
It would be helpful if there was a list of grants available, especially for businesses in the LA area.
Sandra Grossman
01:11:24
we are required to use a payroll service for employees so we did not issue the W2’s how do we apply for them
Anacani Mateo
01:11:28
You mentioned double dipping with PPP and EIDL. The question is: Can you apply as a sole proprietor for the EIDL and apply for the PPP as a more than 20% on an S-Corp?
jim landis
01:12:11
Rent is typically the largest cost of small businesses. What is a summary of how small businesses are dealing with landlords: 1 Federal, State or County relief. 2. Legal relief in the form or deferred or forgiven penalties or the like
Lara Weithorn
01:12:21
Diff btwn Sole-prop and self-employed for this purpose? Normally it’s interchangeable
Cynthia Sanchez
01:13:09
is there a chance that Wells Fargo will start accepting applications again?
Jill Carlton
01:13:14
If you are a sole proprietor, question was just answered. But what if you are a sole proprietor with employees? You can submit for your employees but what about for your draw that is not documented in payroll reports?
Wanda Green
01:13:17
Self employed...would be DoorDash, Postmates etc
Mary
01:13:22
One the application do I check sole-proprietor or self-employed? There are separate boxes. I don't have a DBA
Chip Schulte
01:13:34
I have a business with four W-2 employees, and 21 1099 employees, who are coaches. Is everyone eligible for the Payment Protection Program through our 501(c)(3) organization? Does it matter if the business is seasonal? The 1099 Employees are in general coaches, who are paid in most part from December to June, with lesser amounts in July & August.
Eric Rosen
01:13:50
Is “number of people” on application current or during 2019 since that is the average monthly payroll period?
Lara Weithorn
01:13:55
Massage/hair etc is self-employed or sole-prop?
Lara Weithorn
01:14:16
Thanks!
jazzdrums
01:14:22
I’m self employed should I apply for EDD or PPP
gaspare benso
01:14:38
does the $100K cap include also payroll taxes, insurance benefits and retirement benefits or only salaries, commission and other compensation?
Susan Arellano
01:15:18
For companies applying for PPP and EIDL - what are the specific reporting requirements to assure no "double dipping?"
Jim Osterling
01:16:52
I am self employed, don't pay myself a regular payroll check, just a draw when available. If I understand the speaker correctly, I can borrow up $100,000 per year and it will be forgiven since it is for my payroll. Or, did I misunderstand the answer.
Orawan Kidjapipat
01:16:57
Business owner call to Wellsfargo (They bank), Wellsfargo infrom her no longer can accept application because wellsfargo hit to limited of applicaton received. Does Wellsfargo have limit to accept application? Zipcode 90027
Elianne Rodriguez | Bixel Exchange
01:16:57
If you plan to apply for both we recommend talking to an advisor to figure out the right combination and avoid double dipping
Aida Absi
01:17:00
If our temp agency has over 500 and is not applying can we apply for the 18 employees we hire through them.?
Swaga Deb
01:17:08
If you aren independent LLC with only yourself as the employee. If you are granted the PPP loan, do you need to run any payroll to yourself through your payroll company so taxes are taken out?
Steven D Turner
01:17:28
Emergency Injury Disaster Loan
Joseph Kim
01:18:32
it's Economic Injury Disaster Loan
MarySue Milliken
01:19:10
Many of my furloughed employees are making = or more from UI benefits and can continue to get them until December 2020. they are not incentivized to get back to work AND if I hire them back when I don't have any business -then I am forced to let them go again - they may not be eligible for the enhanced UI benefits they had been getting. timing seems like it won't work as intended.
Brendan H
01:20:09
Topic: Deferred Salary >> I am the only employee for my startup, an LLC yet to generate revenue. Can I qualify for a PPP loan if I have been deferring my salary (due to lack of funding and revenue)? My salary *is* listed in the operating agreement for my LLC — but I have never collected (or included this in the losses acknowledged in my company’s taxes). I do otherwise meet the criteria as far as an established business relationship with a bank, the company has been in existence for multiple years, etc.
Anacani Mateo
01:20:36
What are the names of the experts answering the questions in this chat? I want to know whose answers to trust and who to ignore. Not diminishing anyone's expertise but I want to ensure I don't go based off of hearsay. Thank you.
Jill Carlton
01:21:33
How soon can we expect to hear from Bixel? I realize everyone is busy but I signed up at the first webinar and haven’t been contacted. Should I sign up again?
L W
01:21:48
As the owner, will the EIDL and PPP applications impact my credit?
Wanda Green
01:21:55
Yes...that sole LLC owner, should have paid herself via a W2
Brande Lindsey
01:22:01
what happens when / if the financial challenges extend past 6/30/2020? will the gov't extend the financing? OR should the rehired staff need to reapply on unemployment
Elianne Rodriguez | Bixel Exchange
01:22:09
Jill I will double check on the form
Jack Olree
01:22:33
Great job Bryan, thank you so much for your expertise!
West Hooker
01:22:38
should WC insurance be included in the average payroll calculation?
Elizabeth Gaudio
01:23:03
Elaine, I have emailed you several times and never heard back. How do we reach you???
Guy Catalano
01:23:45
if you have received more loan than would cover the 8 week forgivable period, can you pay back the rest?
Katie Baad
01:25:29
@Guy - there is no prepayment penalty with PPP, so yes you can pay it back if you don’t use it.
krsitine halverson
01:25:38
Thank you!
Jill Carlton
01:25:39
Thanks for this webinar series! It’s been very helpful.
Guy Catalano
01:25:45
thank you
sayuritsuchitani
01:25:49
Thank you!
Katie Baad
01:25:53
Thank you all
Yoryana Aguilar
01:25:56
Thank you!
steve allison
01:25:57
thank you John Bwarie
Anna Araujo
01:26:13
Thank you so much. Very informative and helpful.
steve allison
01:26:14
thanks brian
Guy Catalano
01:26:18
great job!!!!
Jacqueline Vargas
01:26:19
Thank you so much for setting this up
Stephen Pierson
01:26:40
Thank you so much
Anacani Mateo
01:26:42
I said thank and will say it again Bryan, John and Elaine.
Allan Dallatorre
01:26:49
Nice job John!@
Gregg Sherkin
01:26:54
Thank you Bryan
Elianne Rodriguez | Bixel Exchange
01:26:55
Thank you everyone