Greetings All. Thank you for joining. The funds that are remaining are only with CDFIs and the funds are dwindling quickly. Do NOT delay as the funds will likely not last until 5/31,

Act as if the funds will expire tomorrow and apply TODAY. DO NOT DELAY.

How long do you have to wait between the 1st round to apply for 2nd round? Why are lenders now requiring 6 months bank statements, and complete tax documents? Did the SBA begin requiring these documents?

Yes. Each lender will provide their website for applications and in advance compile your documents and submit a complete and accurate application to avoid delays.

There is NO FEE to apply.

Here is the link to apply with the FAMU Federal Credit Union https://famufcu.com/. My name is Doree Henry, PPP Manager, 850-222-4541, x8, dhenry@famufcu.com.

Apply at lendistry.com

Carl Windom is the Credit Union of Atlanta Rep

winwis2014@outlook.com is Panelist Carl Windoms E Mail

What happened Rosario with the Application in the Portal

what do you have to do to apply for forgiveness? what documentation is needed?

Its a grant that you need to apply for right away

Yes Linda

It appears they did not delete your application in the SBA system you need for that to happen

Rosario are you trying to get a second draw

Delton which loan were you declined

Grant when applied for forgiveness

From SBA Website Re: Applying for Forgiveness for PPP Loans: To apply for loan forgiveness:1. Contact your PPP lender and complete the correct form:Your lender can provide you with either the SBA Form 3508, SBA Form 3508EZ, SBA Form 3508S, or a lender equivalent.The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements. Your lender can provide further guidance on how to submit the application.2. Compile your documentation:Payroll (provide documentation for all payroll periods that overlapped with the Covered Period or the Alternative Payroll Covered Period):Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employeesTax forms (or equivalent third-party payroll service provider reports) for the periods that overlap with the Covered Period or the Alternative Payroll Covered Period:Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and

continued....State quarterly business and individual employee wage reporting and unemployment insurance tax filings reported, or that will be reported, to the relevant statePayment receipts, cancelled checks, or account statements documenting the amount of any employer contributions to employee health insurance and retirement plans that the borrower included in the forgiveness amountNon-payroll (for expenses that were incurred or paid during the covered period and showing that obligations or services existed prior to February 15, 2020):Business mortgage interest payments: Copy of lender amortization schedule and receipts verifying payments, or lender account statementsBusiness rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible paymentsBusiness utility payments: Copies of invoices and receipts, cancelled checks or account statementsThis list of documents required to be submitted to your lender is not all-inclusive.

3. Submit the forgiveness form and documentation to your PPP lender:Complete your loan forgiveness application and submit it to your lender with the re­quired supporting documents and follow up with your lender to submit additional documentation as requested. Consult your lender for additional guidance and provide requested documentation in a timely manner.4. Continue to communicate with your lender throughout the process:If SBA undertakes a review of your loan, your lender will notify you of the review and the SBA loan review decision. You have the right to appeal certain SBA loan review decisions. Your lender is responsible for notifying you of the forgiveness amount paid by SBA and the date on which your first payment will be due, if applicable.Please note: Recent legislation eliminated the original requirement to deduct the amount of EIDL Advance you may have received from your PPP loan forgiveness.

https://www.sba.gov/document/sba-form-3508-ppp-loan-forgiveness-application-instructions

thank you @nancy

No

You just need an accountant

I am getting my quickbook certification, so I will be able to assist.

If you are interested in learning more about the ways that the Urban League can assist you and your business, please reach out to our Entrepreneurship Center's program coordinator, Yasmine Edge, by setting up an appointment at www.calendly.com/yedge

sharing knowledge is KEY!!!!

Its all about the Community

www.calendly.com/yedge

Is the IRS being behind on processing taxes an issue?

Thank you so much to all of our panelists for making time to share this valuable information. We are in this TOGETHER and want to support YOU to be PROFITABLE and Successful in accessing capital, building capacity and building your business.

Thanks to ALL of YOU for attending and visit our website for more information on how our Urban League of Greater Atlanta Financial Empowerment & Emergency Relief Center is here to support YOU!

He just announced today his re-election

Again, if you'd like to be connected to one of our amazing business coaches or learn more about your business cohorts, schedule a time to speak with me so we can assist you! www.calendly.com/yedge

Kemp

So let's get out and VOTE!!!!!

AMEN