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Nonprofit Leaders call with Senator Tim Scott's Team - Shared screen with speaker view
Rachel Starner
21:49
Rachel Starner from Midlands Mediation Center
Chris Steed
25:38
Is eligibility for the individual/family money (i.e. $1,200) based on Gross Income...AGI?
LaTisha Vaughn
27:52
Can everyone please mute.. We can hear tv in the background
Candice Herriott
28:13
What does that mean that Non-Profits can be $300 above the line?
Merridith Crowe
28:56
And also, it would be helpful to understand what the forgiveness process might be or how/when we will find out that detail.
Candice Herriott
29:37
Candice Herriott from Toadfish Conservation Coalition
Tim Veeck
29:40
In addition to the 2.5 times payroll for the 8 week period, can you also obtain additional funds within the loan for mortgage, rent, interest on debt? Or is it capped at the 2.5 times payroll figure?
Garcia Williams
30:15
Are contractors 1099 included as "employees" whose salaries can be forgiven?
Robert Lee
30:16
Do public charities qualify under the CARES act, since not all non-profs are public charities?
Sarah Wills
30:40
Is the interest also forgiven?
Richard Reams
31:05
Did you say 2.5% of payroll or 2.5times payroll expenses?
Merridith Crowe
31:12
Is 2.5x payroll the total INCLUSIVE of rent/insurance/etc.?
Carole Swiecicki
31:12
Is it 2.5% of monthly payroll or 250%? The FAQ documetn says 250% but Chuck said 2.5%
Tim Veeck
31:14
She was asking this question: A key question...is the Paycheck Protection Program retroactive for anytime frame between February 15 to June 30. The final version of the CARES Act text seems to indicate that the forgivable loan funds are for an 8 week period forward from the origination of the loan. Please clarify. Thanks!
Kyle Barnette
31:29
same question as above about the 2.5% of monthly payroll
Nancy Lee - SC Habitat for Humanity
31:29
And to clarify, am I understanding correctly that portion that is eligible for forgiveness is capped at 8 weeks total, correct?
Stephen Gilbert
31:31
please discuss how a small non profit can utilize the EIDL and PPP
Judy Knapp
31:50
Could you explain the forgiveness for rent and utilities for NPs?
Barbara Rackes
31:59
Can Chuck the term "forgive" in the non-profit loans, please?
Elena Hacker
32:37
It's 250% of average payroll, Chuck said 2.5x average PR, same thing :)
Tammie Hoy
33:32
Your lender or SBA lender which could be a CDFI like LDC and CommunityWorks as well., we hope to know soon
Sheldon Sundell
33:34
I read that the SBA has 30 days to write the fine print.
Sara Fawcett
34:17
My conversation with my bank this morning is that until there is more guidance from the federal government they cannot take applications.
Merridith Crowe
34:30
Will you please clarify that the total is 2.5x payroll cap is BEFORE other expenses (rent, etc.) or INCLUSIVE.
Merridith Crowe
34:55
Snyovus and South STate Bank said the same
Laura Allen
34:59
Talked to Upstate bank this morning. THey expect to have applicaions by Friday. All the info is coming from SBA
Sheldon Sundell
35:29
US Bank has an online pre-application form.
Laura Allen
35:37
They are compiling all the info. needed. Banker said Nonprofits should go to their bank
Tammie Hoy
35:42
I spoke the SBA director this weekend via email and stated the same they are working hard on the guidance to lenders. Its under the SBA 7a
Merrell Johnson
36:03
Can non-profits that receive Medicaid reimbursements, apply for the SBA loan?
Jonathan Rauh
36:03
can you clarify if tht SBA loans apply to affiliated nonprofits as well as stand alone
Dr. Ashley Tennessee
36:18
Anyone spoke with First Citizens?
Katy Smith
36:24
There are lenders making themselves available now to front money, but at high (predatory) interest rates. Any comment on that? Seems to intentionally confuse small business and nonprofit borrowers.
Sarah Wills
36:41
Also, is the interest forgiven??
Tracy Bailey
37:20
I just got a call from a predatory lender promising to help our nonprofit. Be careful.
Kate Pratt
38:32
SBA just sent out an email saying they are awaiting for guidance from the federal government.
Alesia Carter
38:33
I spoke to TD and they didn't have any information. United Community Bank advised that they have a call today and tomorrow giving them further direction concerning the loan process.
Tammie Hoy
38:34
Yes thanks for the comment. We are trying to recommend work with “trusted lenders and partners” We will need media about this ASAP
Tim Veeck
38:47
This is from the final text of the bill: 10 SEC. 1106. LOAN FORGIVENESS.11 (a) DEFINITIONS.—In this section—12 (1) the term ‘‘covered loan’’ means a loan guar13anteed under paragraph (36) of section 7(a) of the14 Small Business Act (15 U.S.C. 636(a)), as added by15 section 1102;16 (2) the term ‘‘covered mortgage obligation’’17 means any indebtedness or debt instrument incurred18 in the ordinary course of business that—19 (A) is a liability of the borrower;20 (B) is a mortgage on real or personal21 property; and22 (C) was incurred before February 15,23 2020;24 (3) the term ‘‘covered period’’ means the 8-25 week period beginning on the date of the origination26 of a covered loan;
Merridith Crowe
38:54
In short, does payroll determine the cap or is the cap 2.5 x payroll + other qualified expenses?
Merridith Crowe
39:10
thank you
Merridith Crowe
39:13
makes sense
Juan-Pablo Mancia
39:21
2.5 times not 2.5%
Zaina Greene
39:31
What qualifies us to have the loan forgiven? Is there specifics around that?
Juan-Pablo Mancia
40:05
2.5x payroll is the cap.
Juan-Pablo Mancia
40:20
other items like rent, utilities could be part of the forgiveness amount
Sara Fawcett
40:24
Is it 2.5x payroll to include benefit cost?
Sheila Caldwell
40:41
Just hit my inbox: Cutting Through the Jargon: How the CARES Act Works for Nonprofitshttps://nonprofitquarterly.org/cutting-through-the-jargon-how-the-cares-act-works-for-nonprofits/?utm_source=NPQ+Newsletters&utm_campaign=01b3e8c956-EMAIL_CAMPAIGN_2018_01_11_COPY_01&utm_medium=email&utm_term=0_94063a1d17-01b3e8c956-12581485&mc_cid=01b3e8c956&mc_eid=1f016104cf
Juan-Pablo Mancia
40:42
yes, includes benefit costs
Shelby Henderson
41:04
Before this ends, thank you to Senator Scott and all our representatives for working in our best interests at all times. It's good to see that nonprofits are on his priority list with the other important legislation he's dealing with.
Heather Lother
41:13
@Sara Fawcett, Charles said it could include health insurance premiums. Not sure about other benefits.
Heather Lother
41:34
oops - and paid leave benefits
Sheila Caldwell
41:48
In addition to health insurance premiums, he mentioned paid medical leavve
Madeleine McGee
42:52
Great answers from many of you!! Thank you! - We will pull into the FAQ
Tammie Hoy
43:25
do you have to have a Social security number?
tish mccutchen
43:31
What about people who don’t file income taxes, or don’t have social security numbers?
Tammie Hoy
43:35
ITIN eligibility
Elena Hacker
43:51
One major note, is that entities and non-profits cannot receive both the SBA economic disaster loan and the CARES Act, is that correct? Either can be utilized, but not both.
Shelby Henderson
43:52
What about anyone who was not working last year but are working this year?
Darlene Paradise
43:53
What if your dependent is over 17 but medically dependent-disabled?
Dallas Conyers
44:34
does that include those on disability
julie trott
46:03
can we address the unemployment payments ?
Tammie Hoy
46:15
Please tell your clients to wait for check or work with United Ways VITA to help with application not Rapid Refund locations to predatory lenders
Kyle Barnette
46:28
thank you all so much for this information!
Philip Keilen
46:37
thank you for this meeting
Sara Fawcett
46:55
Thank you Sen Scott's team and TSC and UWASC for holdling this call!
Bonnie Bella
47:09
Thanks so much this has been very helpful!! Many thanks to Sen. Scott and staff!
Tammie Hoy
47:10
Thanks Together SC!!!
Paula Marion
47:12
Thank you so very much for this.
gerald truesdale
47:13
Pass our thanks to Senator Scott, and your professionalism and attention to our needs is greatly appreciated.
Donny Supplee
47:14
Yes Thanks to the Senator!
JoAnn Turnquist
47:15
Thank you, everyone!
Elena Hacker
47:19
Thank you!
Virginia Wilson
47:19
Thank you!
Kendall Biga
47:19
Thank you!
Yolanda McCray
47:19
Thank you for your leadership!!!!!!
Dodi Hodges
47:20
Thank you. Up until now we were guided to contact SBA or SCORE. Neither has responded to my requests. To know that I need to contact a bank is very helpful.
Darlene Paradise
47:28
Thank you so much for your leadership!
Sharon Graci
47:31
Thank you all!!
julie trott
47:35
Thank you all so much!
Liz Milligan
47:39
Our NPO has 1099 staff , would we still qualify for SBA loan forgiveness since we do not have W2 employees?
Kimberly Davis
47:42
Thank you!
Juan-Pablo Mancia
47:43
is the $100k cap per individual excluding the entire salary or just the amount over $100k?
Michael Brown
47:45
Great call. Thank you so much 🙏🏿
Langley Shealy
47:52
Thank you all for your leadership!
Kelly Shockley
47:59
Thank you everyone!
Ted Kuchinski
48:00
Thank you!
Kathy Grier
48:01
Thank you!
Donny Supplee
48:02
Thanks Madeleine, Naomi and JoAnn!
Nancy Lee - SC Habitat for Humanity
48:03
Thank you for this call.
Robin Berlinsky
48:03
Thank you so much.
Kabrina Bass
48:15
Thank you TogetherSC - Great JOB!!! Thank you Naomi
Cara Senterfeit
48:18
Thanks, y’all!
Kristi Downer
48:25
many thanks! very informative
Laurie Rovin
48:31
Thank you, Naomi and Madleine!
Garcia Williams
49:14
Thank you again for organizing this call and providing input on resources and how to apply.
Stephen Gilbert
49:30
please discuss how a small non profit can utilize the EIDL and PPP
Dallas Conyers
49:39
will this cover new hires?
Laura Allen
49:48
Thank you Madeleine & Naomi! This is great.
Dorlisa Adams
50:20
Thank you! Great info.
Teresa Spires
50:30
Thank you! This was very helpful. Teresa Spires - KNOW(2) Cherokee.
Trish Frasier
50:47
does this cover for employees if our office is closed due to COVID concerns?
Ame Holcombe
51:01
Thank you for putting this informative call together.
Brandi Griffith
51:24
any specific info about the Small Business Stabilization Forgivable Loan Fund (SBSF) being promoted by City of Columbia?
Brenda Dooley
51:26
We've been told by our bank, we can apply for both EIDL and PPP
Tara Burgess
51:33
Will individual stimulus checks be given to individuals who are over the age of 17 but are still a dependent (such as college students)?
Laura Allen
51:49
So is the total MAX forgivable $100k? Rent, payroll, utilities, health premiums? OR payroll portion is max $100K
Elena Hacker
51:51
I understand you can apply, but only receive one or the other.
Marc Pitman
51:54
Thank you everyone!
Crystal Campbell
52:05
Thanks Madeleine and all at Together SC. This is great.
Merridith Crowe
54:03
So does the .5 x above and beyond the 2x for rent, etc.
Merrell Johnson
54:17
What are the parameters for forgiveness?
Sarah Wills
54:21
Is the interest on the PPP loan forgivable as well???
Merridith Crowe
54:31
sorry, is the .5x above the 2x for rent, insurance, etc.
Tara Burgess
54:40
Thank you for clarifying.
Darlene Paradise
55:11
What about student loan interest help
Merridith Crowe
55:12
Thank you Chuck
Carolyn Rivers
55:13
To be clear, I think we’ve learned we can apply for SBA 7(a) from our bank and also SBA Disaster Loan on-line from SBA or is this from bank, too?
Dodi Hodges
55:15
THank you
Tammie Hoy
55:16
THANKS!!!!
Debbie Nelson
55:16
Thank you Chuck
Kyle Barnette
55:20
Thank you!
Cheryl O'Donnell
55:21
Thank you!
Latasha Taste-Walker
55:22
someone reviewing SSI and doesn’t file income taxes are they eligible?
Kristin Mumford
55:22
thank you Chuck !!!!
Alesia Carter
55:25
thanks, Chuck!
Yolanda McCray
55:26
Thank you Chuck from BRUW
Alecia Brewster
55:26
Thanks! This is helpful.
Dallas Conyers
55:26
thank you Chuck
JoAnn Turnquist
55:29
Thank you, Chuck!!
Laurie Rovin
55:33
thank you!!! Great call!
Pat Baxley
55:33
Thank you!!
Latasha Taste-Walker
55:34
thank you chuck!!! 👏👏👏👏👏👏👏
Carolyn Rivers
55:34
thank you, Chuck, and Together SC
Darlene Paradise
55:36
Thanks, Chuck!
Donna Ortega
55:37
Thank you all!
Mike Sablone
55:38
Thanks everyone
Crystal Campbell
55:45
Thanks so much!!
Michael Brown
55:46
Thanks Chuck!
Caroline Robertson
55:49
Thank you!!!
Joe Huggins
55:52
Great job - thank you!!
Beth Kerrigan
55:52
Thank you!
Darlene Paradise
55:53
Thank you Madeleine and Naomi!
cindy wofford
55:56
thanks for the clarifications
Amy Brennan
55:57
Thank you Chuck and everyone! Stay well!!
Sally Ehrenfried
56:00
Thanks, Chuck!
Latasha Taste-Walker
56:04
And thank you Together SC and Senator Scott’s team!
Dallas Conyers
56:21
if there are any lisrservs for updates please add dallas@sustainingway.com