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COVID-19 Small Business Forum Webinar Series - Shared screen with speaker view
Alejandra Orozco
24:28
Please place your questions here.
Jacob Patterson
25:54
I received a payment in my bank account from the US Treasury, its description is from EIDG (I am assuming grant) for $1k. How can I contact the SBA to find out my loan amount?
David DeLucca
26:53
Just signed loan docs. I’ve been out of work for 5 weeks with no pay. I’m a sole proprietor and sole employee. Can I back date my pay from March 25 when the work stopped.
David DeLucca
27:09
For PPP
Sebastian De Vivo - Bixel Exchange @ LA Chamber
27:11
Hi Jacob, unfortunately there’s no way to find out the loan amount until you get the email invitation to the platform. You might be able to reach someone at the SBA but they probably won’t have much to say.
Sebastian De Vivo - Bixel Exchange @ LA Chamber
27:42
Hi David, the PPP payroll period starts when you receive the funding.
Courtney Hunter
28:35
Yes-- I was thinking about additional funding for small and micro businesses. But this is the wrong forum for that question. Thank you.
Sebastian De Vivo - Bixel Exchange @ LA Chamber
29:14
Hi Courtney, we do have some info on additional funding, you’re in the right place!
Brian Buss
30:45
Who makes the test kits? Besides the swabs, q-tip type items, what actually is in the kit? Is the hold up the kits themselves or the lab reporting backlog?
Courtney Hunter
31:20
Thank you. I am helping Child Development Centers with finding funding to sustain their businesses.
Gregg Sherkin
32:23
Great information. Thank you Dr. Jones.
wilma lin
33:11
We are sole proprietor with one employee, our bank rep at union bank has no knowledge and refused to include our self employment income , office rental, utilities as part of our ppp application. We were told by Union Bank that our one employee grant has been approved, can we submit another ppp application to include our self employed income, rent, utilities? Thank you.
Xiomara Pena
34:41
Doc released on 4/24 RE: Calculating PPP Loan Amounts: https://home.treasury.gov/system/files/136/How-to-Calculate-Loan-Amounts.pdf
Renee Young
35:49
Are there restrictions on how the SBA advances are spent?
Ann Zumwinkle
35:50
+1 to Wilma Lin's note: the Wells Fargo PPP application didn't include anything except self-employed $$ and not additional costs. Wells Fargo's daily emails don't seem promising for PPP approval.
Sebastian De Vivo - Bixel Exchange @ LA Chamber
36:00
Hi Wilma, the grant is for the EIDL, which is a different program than the Paycheck Protection Program. We can help you calculate the loan amount for PPP, it’s not decided by Union Bank but according to the regulations released by SBA.
Sebastian De Vivo - Bixel Exchange @ LA Chamber
36:38
Hi Renee, no, the EIDL advance is a grant and it’s up to you how to spend it.
Marsha Hansen
36:45
Do you know when the EIDL loans might open up again? SBA website still states they are unable to accept new applications at this time based on available appropriation funding.
Sebastian De Vivo - Bixel Exchange @ LA Chamber
37:38
Hi Ann, in order to calculate the loan amount for PPP, you can only use payroll. You can use it for rent/utilities/etc, but to calculate the loan amount you only use the payroll figures.
Ann Zumwinkle
37:54
Thanks Sebastian,
wilma lin
38:34
Please advise how to go about and get help from you. Thank you
Sebastian De Vivo - Bixel Exchange @ LA Chamber
39:15
Hi Marsha, we don’t really know, we’re hoping that given the higher appropriation and new types of borrower types approved, they should open the platform for applications in the next few weeks.
Manny Garcia
39:36
Is Wells Fargo still submitting applications? I completed mine on 4/20.
Sebastian De Vivo - Bixel Exchange @ LA Chamber
39:51
Yes, Wells is still accepting applications
Manny Garcia
40:15
Yes, but are they submitting to SBA?
Barbara Bruderlin
40:32
Are Chambers being considered for PPP?
Ashley Lopez
41:09
Can PPP funds be used to pay state taxes that are past due? How about paying future rent ahead of due dates? We're trying to use funds appropriately and be eligible to have loan forgiven...our average monthly payroll is less than last year.
Sebastian De Vivo - Bixel Exchange @ LA Chamber
41:21
Manny, they’re trying to submit to SBA but they’re limited by the SBA. I’ve heard they’re limited to 350 applications per hour.
Jill Carlton
41:54
I had an employee go out on maternity after being included in the PPP headcount. If I do get PPP, she will not be back in time. I have another going out soon too. That’s 2 employees out of only 7! Will I still be dinged?
wilma lin
41:59
Is there a BANK able to process PPP loan? my bank suck.
Jill Carlton
44:36
On the PPP app, if you didn’t check off one of the potential allowable uses, utilities, for example, can you still use it for that as well?
Manny Garcia
44:45
Can you please provide contact information for the speakers? Thanks
Sebastian De Vivo - Bixel Exchange @ LA Chamber
46:12
Wilma: https://www.fundera.com/blog/lenders-accepting-new-customers-ppp-loans?utm_source=fundera&utm_medium=email&utm_campaign=pppapp_update&utm_term=otheroptions
Sebastian De Vivo - Bixel Exchange @ LA Chamber
46:18
Also try Lendistry
Sebastian De Vivo - Bixel Exchange @ LA Chamber
47:20
Hi Jill, yes you can.
Wendy Wong
47:28
What are the dates the payroll is counted toward forgivable?
Sebastian De Vivo - Bixel Exchange @ LA Chamber
48:07
Hi Jill, you can hire other people to replace them and it won’t affect the forgiveness.
Syreeta Pratt
48:13
As a certified Minority Business Enterprise, the difficulties of securing contract work were already difficult but this pandemic has made it overwhelmingly difficult. Syrenity Consulting’s services, especially in Organizational Change Management, are imperative and critical for numerous companies facing the pandemic impacts yet we have not had access to decision makers to provide these transition and crisis services. Any thoughts of how to navigate this?
Xiomara Pena
48:29
AmPac Tri State CDC + Opportunity Fund are also local CDFIs that are also accepting applications - AmPac has a few docs (checklist, application and an eTran submission doc)
David DeLucca
48:55
If I applied to Wells Fargo for PPP. If approved can I withdraw my app and if so how should I do it
Sebastian De Vivo - Bixel Exchange @ LA Chamber
49:09
Hi Wendy, the 8 weeks after you receive the funding (ie, cash hits your account) is the period used to calculate forgiveness.
Jill Carlton
51:58
Hi Sebastian, I have a very specialty studio with highly trained instructors so cannot easily hire new teachers to replace someone on maternity, especially two people. The other teacher can take up some of the work but the headcount cannot be maintained. So I will be dinged on that for PPP?
C. Rey Koo
52:17
to reapply for additional ppp... May i use sched SE to reapply for PPP. so far, I’ve received a $1000 to pay for my one employee who’s on w2
Wendy Wong
52:33
Thank you Sebastian!!! Very helpful -appreciate you guys. You guys answered my question last time and for us to apply for UI per commission lost and should qualify if it’s -25% and I was able to get UI approved for our guys because I submitted all the number accordingly.
C. Rey Koo
52:47
How do owners who are on a monthly “draw” for pay, not on w-2. we get k1 and SE
Sebastian De Vivo - Bixel Exchange @ LA Chamber
53:07
Jill, they should understand if you have special circumstances, let’s connect directly so we can get a better sense of how to approach it.
Jill Carlton
53:28
Thanks, Sebastian! You guys rock!!!
Sebastian De Vivo - Bixel Exchange @ LA Chamber
53:40
Happy to help!
Sebastian De Vivo - Bixel Exchange @ LA Chamber
53:53
Rey, I think the $1k advance is from the EIDL, not the PPP.
Sebastian De Vivo - Bixel Exchange @ LA Chamber
54:13
Wendy, so glad to hear that!!
Eris Moreno
57:45
My business is very small, and there is just myself on payroll. That means the PPP is capped at $1000 and I just heard the EIDL will be capped at $15,000. That doesn't even cover 2 months of rent! Do you have any recommendations for low interest loans and grants?
Sebastian De Vivo - Bixel Exchange @ LA Chamber
59:19
Grants: https://docs.google.com/spreadsheets/d/1er0Bm0K9YFLrcLE340ljpY5GfKZ95dOdAHkHgNIOnNQ/edit#gid=651327357
Sebastian De Vivo - Bixel Exchange @ LA Chamber
59:47
Other grants:
Sebastian De Vivo - Bixel Exchange @ LA Chamber
59:48
https://www.globalgiving.org/redbackpackfund/
Sebastian De Vivo - Bixel Exchange @ LA Chamber
59:58
https://businessforall.helloalice.com/
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:00:09
LA City Program:
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:00:17
https://ewddlacity.com/index.php/microloan-program
Barbara Bruderlin
01:00:19
What will be the protocol for retail clothing, to prevent transmission on the clothing?
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:00:23
LA County Program:
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:00:32
https://wwwa.lacda.org/economicdevelopment/business-recovery-loans
Gabrielle Anicker
01:02:27
What is the current wait time for EIDL response? I received an application number 3.5 weeks ago but nothing since.
Gabrielle Anicker
01:04:14
Would that be the general 800 number for SBA?
Jacob Patterson
01:04:35
I received a GRANT from eidl, but no contact from them yet. now that I am officially approved, is there a way to get hold of them now that I know I’m in?
Jacob Patterson
01:04:41
I want to find out my loan amount
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:04:48
Unfortunately Eris, you won’t qualify for the Facebook or Salesforce grants (they require at least 2 employees). The $15k cap was a weird glitch that happened some time ago, I haven’t seen anything that caps it at $15k since.
David DeLucca
01:05:12
I call that number and asked for a supervisor. They transferred me to another person and they could look further into my app
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:06:15
Jacob, you can try but it’ll be difficult. What’ll happen is an email to log into the platform where it reveals the loan amount and allows you to accept, decline, or lower the proposed loan amount.
Eris Moreno
01:06:26
So what is the cap on the EIDL loan and is that determined by number of employees?
Barbara Bruderlin
01:06:35
Where will be be able to get an industry specific rollout plan so we can start organize our chamber websites with those guidelines.
Sonya Sepahban
01:08:16
Any special grants or help for women-owned businesses?
Elianne @Bixel Exchange
01:09:03
https://www.dir.ca.gov/dosh/
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:09:03
Sonya, the Red Backpack Fund and Hello Alice grants are for female entrepreneurs
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:09:32
https://www.globalgiving.org/redbackpackfund/
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:09:48
And:
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:09:49
https://businessforall.helloalice.com/
Marsha Hansen
01:10:37
This might be helpful for retail clothing and other businesses. Wynn Las Vegas has published a 23 page Health & Sanitation Program for new safety procedures, etc. It might be a good reference for various industries. https://www.8newsnow.com/wp-content/uploads/sites/59/2020/04/Wynn-Health-Plan.pdf
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:11:50
For independent contractors and sole proprietors, you qualify for unemployment: it’s a program called Pandemic Unemployment Assistance (PUA). Please check it out!
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:12:08
Make sure you plan well how to combine EIDL, PPP, and PUA
Sebastian De Vivo - Bixel Exchange @ LA Chamber
01:12:49
https://edd.ca.gov/about_edd/coronavirus-2019/pandemic-unemployment-assistance.htm
Betsy Hall
01:14:25
THANK YOU VERY MUCH!!!!!
Courtney Hunter
01:14:41
Thank you for sharing information and asking great questions.