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Key Loan Provisions under the CARES Act - Shared screen with speaker view
Barak Epstein
01:00:37
i thought interest paid on debt was forgivealbe?
Malcolm Neal
01:01:40
What about part time employees?
Tim Handren
01:02:38
For PPP, FTE vs Employees is still not clear to most lenders. Any insight, as FTE is key, given the number of P/T most of us use.
Cindy Ramsden
01:02:41
How are FTEs calculated?
Chris Johnson
01:07:47
Can you use 40 hours a week for FTE calc or is it 30
Joel Wienholt
01:07:58
I am assuming most theaters have temporarily laid off all employees. Do you suggest re-hiring employees and paying them...even if there isn't really any work to be done?
Janice Warner
01:08:18
We have stagehand payroll only when we have live shows. Will those be included in the pay calculations?
Caitlin McGrath
01:08:22
We applied for EIDL last week. How should we proceed with a PPP application for the same purposes?
Andrew Sherburne
01:08:37
what if a theater expanded operations less than a year ago? can the calculation be altered?
Anne Cook
01:09:29
Is a pre-existing business loan considered a mortgage for this program?
Rick Novak
01:09:36
What period are we applying for 2 1/2 months?
Kim Speegle
01:10:12
for the payroll calculation, if you have an employee that makes 150,000 - do you include 100,000 in the average or is the whole 150,000 excluded in the average calculatioin
Rick Novak
01:11:11
a way to stretch the $$$ out would be to pay the employees at 75% of the regular pay? We are still eligible for forgiveness??
Chris Drazba
01:14:11
If a dine-in cinema hasn't been using the NAICS code 72 for prior tax filings, can businesses make the case that they should be considered for PPP if that is important to eligibility?
Johny Thomas
01:14:21
How much is forgivable from the EIDL ? Are same items forgivable?
SANJAY DUSARI
01:15:01
can the funds be used to pay off business credit card debts and still eligible for forgiveness?
Sam Scott
01:15:07
Are personal financial statements needed in the case of a non-profit, where there is no "owner"?
Nadia Clevenger
01:15:16
Is loan forgiveness via PPP includible in taxable income?
paul dean
01:15:25
Can I apply for 2 Eidl loans for 2 different companies?
Debra Calobreves
01:15:27
Can you clarify what "Affiliation rule does not apply" mean.
Barak Epstein
01:15:30
EIDL seems to go direct through SBA 100% under a certain amount? (not a bank partner involvement?)
Janice Warner
01:15:32
Could we apply an EIDL loan to payroll expenses incurred prior to PPP (last half of March for instance where we continued pay)
Robert Harrington
01:15:48
So to be clear, the affiliated business rule applies on the EIDL but not the PPP loans, correct?
Kim Speegle
01:16:22
IS there any downside to applying for both Paycheck and EIDL at the same time? Once we find out how much they will give us, then we can decide to take it or not?
Shana David-Massett
01:16:23
I have already received funds for an Emergency Bridge Loan through my State, which expects I'm going to apply for EIDL. Does it make me ineligible for PPP? I already put in my EIDL app and it's in review but I haven't heard from a loan officer yet
Katherine Young
01:16:45
Are these considered nonrecourse loans?
Malcolm Neal
01:16:58
Did I miss and answer to help for part time employees as that's all we have?
Herlene Laux
01:17:23
for the payroll calculation, if you have an employee that makes 150,000 - do you include 100,000 in the average or is the whole 150,000 excluded in the average calculation?
Alex Tovar
01:17:56
do we apply for EIDL through a lenders or is it an application submitted to SBA?
Shana David-Massett
01:18:07
and to follow up to Herlene
Shana David-Massett
01:18:16
do officers count the same as EEs?
Dirk Reinauer
01:18:31
Is the grant included in the disaster loan application or does it have to be applied for separately?
SANJAY DUSARI
01:18:44
can we apply EIDL for one company and PPL for another or does it fall under affiliated?
paul dean
01:18:56
Can I get 2 eidl loans for diff companies?
Jim Deal
01:20:29
To be clear, if we take the disaster loan, are we eligible for the PPP loan, or is taking one disqualifying for the other?
Steve Lindstrom
01:23:03
To clarify, EIDLs are only through SBA directly online with no need for our local lender to participate?
Rick Novak
01:23:23
FYI some banks are doing 90 Day “No Fault” deferments on existing loans and mortgages.
Natalie Dowdy
01:23:58
If a company has less than 500 employees, but exceeds the SBA small business size test based on the NAICS code 512131, can they still apply for the EIDL?
Chris Daigle
01:26:43
Regarding Paycheck Protection Loans - most small theaters may have 4 or 5 "full time" employees who average more than 30 hours per week. The vast majority of payroll will be high-school and college kids working hourly and part time. Do we know at this point if the 8 week period following the loan would require us to just rehire the 4-5 full time employees at least 75% salary even though pre-loan the FTE calculation may come out to 15 employees when you add all the hours of the part timers?
Eric Denning
01:30:05
That question is perfect Chris Daigle… exact same question from us here also.
Herlene Laux
01:32:18
Mid-size business-treasury loan-what is the maximum loan amount that can be borrowed?
Kim Speegle
01:32:41
Who is the lender for the mid size loans?
Malcolm Neal
01:32:52
Still have not heard an answer which is sort of asked above, but can part time employees be kept on and paid and get paid through the paycheck protection plan or are part time employees on their own and/or just regular unemployment applications by them.
Michael Hagan
01:33:04
Any collateral requirements for Treasury Loans?
Katie Gancy
01:35:59
Will you do another chat once Main Street info is announced?
James O'Hanlon
01:36:14
Should we still apply for SBA EIDL or wait for details on trees loans (main street)
Michael Little
01:36:49
For a single theater, it almost sounds like we should wait on details of treasury loan and/or main street loan before applying for SBA?
Craig Hall
01:36:52
how do you apply for the Paycheck protection loan
Alex Tovar
01:36:56
if an owner is going through BK will the application be denied for Paychex protection or EIDL?
James O'Hanlon
01:37:37
can SBA co-exist with Unemployment Insurance?
Herlene Laux
01:37:37
When do you forsee for these additional loan information will be available?
paul dean
01:38:55
is there forgiveness if I don’t hire all employees back?
Linda Wright
01:39:03
Is there an age limit for unemployment? Do 16-18 year olds qualify?
Craig Hall
01:39:07
are 1099 workers counted in the payroll for loan calculation purposes
Kim Speegle
01:40:19
For employee retention and rehiring - what if eliminated a position that was no longer needed. Do you have to rehire for that position or do they only care about the number of employees and not what position they have
John Walker
01:40:21
Can you pay more during the PPP 8 week period to compete with Unemployment compensation
Rick Novak
01:42:01
So under the paycheck protection plan. can you restate the calculation. 2.5 X average payroll for how many weeks?
Johny Thomas
01:42:27
What kind of rent relief is coming for theaters in stimulus #$?
Johny Thomas
01:42:34
#4
Courtney Hayden
01:43:21
Thank you, John, for your comments. I have been thinking exactly what you have said about employees being OK whether employed or on unemp. You have eased my mind.
russell levinson
01:43:41
if we are closed almost the entire 4 months, there is no point in applying for the payment protection plan?
Azriel LaMarca
01:44:44
Is there any chance the term of the PPP loan would be extended if the crisis continues into summer?
John Walker
01:45:14
Under the Employee Retention Credit, it says that you get a 50% credit for payroll through December 31, 2020. Is the credit for all payroll till December 31, 2020 or just till you reopen? Any other information on this program.
Anthony Ross
01:45:25
What is the latest date to obtain a paycheck loan and the related 8 week period to rehire employees?
Johny Thomas
01:46:13
John that 50% credit is only for payroll taxes
Johny Thomas
01:47:41
Jackie, just to be clear, we can apply for both the PPP and the EIDL?
paul dean
01:47:43
If we get it and don’t need it can we give it back?
John Walker
01:47:47
Does the disaster loan require personal guarantee
Phil Zacheretti
01:48:35
Thanks NATO!
Johny Thomas
01:48:42
Thank you NATO
Warren Sharon
01:48:48
Thank you!
Michael Hagan
01:48:53
What great information Esther & Jackie. Appreciate this call; appreciate all you pulled together to get this to us; appreciate all you'll continue to do. Be well.
Azriel LaMarca
01:48:57
Thank you NATO!
Catherine Paulson
01:49:02
Thanks NATO!!
Dirk Reinauer
01:49:06
Thank you!
Katherine Young
01:49:07
Can we lay off all of our staff now and then re-hire on June 15 and have the amount forgiven?
CHRISTINE O'BRIEN
01:49:07
Thank you so much! Everyone take care!
Kim Speegle
01:49:09
can you repeat the tax credit you aren’t eligible for if you get a SBA laon
richard blacklock
01:49:10
Thank you NATO ! Back to the movies
Daryn McLennan
01:49:16
Thank you
Malcolm Neal
01:49:17
Thank you
Jacob Henson
01:49:22
Thank you
Shad Branen
01:49:24
Thank you
Mark Adam
01:49:24
thank you
Tracey Peyton
01:49:26
Thank you NATO
Pilar Peterson
01:49:28
Thanks!
Ron Krueger
01:49:32
thank you