Accrual issue not yet determined. We need more guidance from Treasuary
Yes, Please refer to our FAQs at JewishTogether.org re FTE
Is it beneficial to switch your payroll to start on the day of funding and end on the 8 week anniversary?
You should consult your accountant
Are folks still accepting the funds even if they have a small reserve after the new guidance?
Really odd question but could someone ask Mark Wilf what the series of books is on the top shelf of his bookcase is, always curious what people are reading. When you ask you can tell him I am on the one asking as I knew him from cabinet 20 years ago
To answer any questions in detail please post it to SBALoans@JFNA.org
When we submitted payroll info for loan, we used monthly average of 2019 (January-December).This included our preschool and religious school teachers who are paid from September to May.When we calculate payroll for forgiveness, how do we account for their payroll which won’t pick up again until September?
If your answers are not answered here or for more detailed answers to your questions please post them to SBAloans@JFNA.org
What is the contact of the man from crossriver from the last webinar.
We believe you can give bonuses but we are waiting for more guidance from the SBA and Treasury on this.
Be careful about the optics of anything you (i.e. bonuses) as the press is starting to look into who is getting and how they are receiving the PPP loans. https://www.latimes.com/california/story/2020-04-30/coronavirus-private-schools-ppp-loans
Thanks Mark, Thanks for all you are doing for the community , Shabbat sholom
We were planning to pay makeup payments to people who have been furloughed or working fewer hours. Will that be allowed?
Cross River person was Phil Goldfeder
He has been a great resource
Yes, to the vacation day question we believe
Thank you do you have Phil Goldfeders contact information?
To answer your question in detail please post it to SBALoans@JFNA.or
Yes, as long as they are a 501c3 for Jewish day school
You have until June 30th
Can employer's share of payroll taxes be included in the 75% payroll calculation?
But keep in mind that you have to spend 75% of the loan on payroll
Employer’s share of payroll is not included in payroll costs
Are they auditing companies with loans over $2M or companies who have assets over $2M or budgets over $2M?
Loan is over $2M
payroll taxes withheld from employees are included in payroll costs
Yes believe that would be the case
We're clients of a bank that isn't participating in these PPP SBA Loan program - they sent us to NewTek, and I was in touch with them. They sent us an email April 15th - but I've nothing since - that stated:"This is to confirm that Newtek has received your submission regarding the CARES Act Paycheck Protection Program. Once your turn comes up in the queue, you will receive an email that looks like the example below, inviting you to begin the process through a secure online portal. Please make sure you are frequently CHECKING YOUR SPAM folder, as our email may inadvertently go there without notice."Once you receive the application, you will be asked to upload the following documents so please have them ready..."What if anything can we do to somehow make sure that our turn comes up in the queue?Thanks, and Shabbat Shalom / Gut Shabbes!Arieh Lebowitz <Arieh@jewishlabor.org>
Yes at JewishTogehter.org
From the date your receive the funds
Begins when you receive the loan known as the origination date
Arieh - I tried with Newtek as well for the same reason but did get an email after that with a link to apply. It took so long, though that we went with a different loan
Our bank sent the following"Current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”Tapping endowments, if any, are not "ongoing operations".Not sure how there can be any question to address here. Granted, English is a difficult language at times.
Court Ruark, thanks, and let's discuss later?
Workman's comp not included expense under PPP loan
Does Computer hosting costs qualify as a utility expense
Our PPP lender sent a new pamphlet on forgiveness. it contains the following statement: "You have until June 30, 2020 to restore any reductions in full-time staff or compensation made between February 15, 2020 and April 26, 2020". When did April 26 become a target date.
Not sure re computer expense...need more guidance
Does that include overtime?
It should re OT
For utilities, can we pay off old unpaid bills (even if they cover a period before we received the loan)?
Need to be during covered period
so it 8 weeks or June 30, not both
Josh, my understanding is expenses have to be incurred and paid during the 8 weeks
What about seasonal salaries? We have school teachers who finish in May. Our payroll is always low in the summer
Accrual question needs more guidance from Treasuary
To answer your questions in detail please post it to SBAloans@JFNA.org
What does one do if part of your payroll is religious school teachers whose employment ends at the end of the school year but was part of the calculation?
100% of FTE
Believe so re gov't grants to exclude
Yes to Ellen Botwin
Yes, believe there would be a reduction re salary question
Believe it would be re buy back vacation question.
When you receive funds
No, do not think that would modify any SBA review
Is there any suggestion that you have to prove that the financial impact is equal to or greater than the loan?
I echo Bekki Harris Kaplan's question. It's one that has come up for me too.
To answer your question in detail please post it to SBALoans@JFNA.
What if you received the 10K (grant) advance for the EIDL loan program? What are the implications?
Bekki and Dianne, if the seasonal employees work very few hours (religious school teachers) they may have minimal impact on FTE count. I took number of hours in the base periods and divided by 40 (30 may be the right number, but it won't affect the outcome). Religious School faculty make little impact. We had a FT employee move on to a new job on April 1. That's a much bigger impact.
30 hours is the correct number to use
can an employee apply for unemployment after the 8 Weeks of the loan?
If they are furloughed they should be able to apply for unemployment
is it going to effect the forgiveness?
First, thank you all for your clear and very very helpful information, guidance and insights, especially as this is a somewhat fluid and evolving arena.Our organization, the Jewish Labor Committee, is of course concerned about workers, including workers at Jewish communal agencies. A JLC member reported to us that a Jewish Federation had reduced its staff, and that over a dozen employees were informed that their employment was being terminated effective immediately." We were asked "while It could be true that Federation was overstaffed, it also could be true that they had other options rather than permanently firing these workers. Federation should always be acting according to Jewish values - that doesn't seem to be the case here."Our concern is that there might have been alternatives to the Federation's "terminating" over a dozen workers during this pandemic - and, more generally, that the best Jewish values regarding the rights of workers, and the responsibilities of employers,
To answer your questions in detail please post them to SBAloans@JFNA.org
Sound advice Robert...thank you
Excellent advice Robert.
We are closed per the governor. Most of our employees work on an appointment with a client. Many of our clients are not interested in teleconferencing. Are we to pay our employees to stay home and do nothing?
Re-posting for all attendees:
FWIW, I ran a government auditing agency for 8 years. In addition to the specific advice that we are fortunate to receive from JFNA and elsewhere, here's mine: make the best decisions you can in good faith, keep lots of contemporaneous documentation, don't do anything you wouldn't want to have to defend on the front page of the newspaper, and you will be fine.
Indeed sound advice, Robert!
If all these loans will eventually be made public, does JFNA recommend that we go public in advance so we can spin the need
Willie, all we can say that the purpose of PPP is to keep employees
For FTE it is 30 hours per week
Wait, so if they make more than $100K and you include parsonage, you can’t reduce to $100K the same as any other employee?
To answer your question in detail please post it to SBALoans@JFNA.org
I don't think there are going to be lots of questions about need, unless it seems egregious that your organization received a loan, or it becomes apparent that so many who needed the loan more didn't get it.
For more information on advocacy please go to JewishTogether.org
health insurance is included
Thank you for this webinar
Thank you!!!! Shabbat shalom.
Thanks to all panelists and attendees for their ideas! Shabbat Shalom!
Thank you — Shabbat shalom!