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AEO: CARES Act Guidance for Nonprofit Members - Shared screen with speaker view
Amber Dozier
46:13
Yes, we will make a recording of this session available.
Mark Alberico
48:54
Will you put out guidance on how the OMB needs you to do to track how you spend the federal funds we may get through PPP in order to have clean Uniform Guidance report?
Pattilyn Beals
53:33
Is the owner's or owners salary included in the amount?
Austine Gasnier
53:37
Can 1099 contractors qualify as “payroll” in this case?
Manuel Campbell
54:15
What documentation will you have to submit to verify Avg. Total Monthly Payments?
Tim Jung
55:00
does it matter that someone's pay is funded by a grant? I think it doesn't matter in that payroll is just the base for the loan amount
lynne cutler
55:14
my understanding that 1099 contractors doen't qualify the independent contractor needs to apply themself
Hanna Leen
55:16
Are 501(c) 4 eligible to apply for PPP loans?
Ghazala Salam
56:21
just to clarify, if a non profit pays is employees a 1099, it is not eligible for this loan/grant?
lynne cutler
57:01
have you heard anything if they will let sba microlender be able to make the loan.. 7a mission lenders can if they get approval
Jen Leybovich
57:30
would, for example, a $105,000 salary be included just up to $100,000 or not included at all?
Lenwood V. Long, Sr
57:38
Where is the calculation for rent, and other allowed expenses included, if to be part of the 2.5 or is another factor
Duane Lewis
57:55
How does a CA lender get approval for PPP
Janice Hassenfeld
58:07
what if you furloughed or laid off employees before applying?- Do you have to hire them back before you apply?
Prism Group
58:32
delegatedauthority@sba.gov
Emily Kaplowitz
59:05
Can a solopreneur apply for this, or should they apply for unemployment?
Vickie Rivers
59:32
So I am told that CA lenders are already approved as CA is a part of the 7A program
Kim Jacobs
01:00:11
I'm sorry I got confused. Do both CA and microlenders need to apply to be a PPP lender?
lynne cutler
01:00:31
remind people FICA needs to come out
Anna Lavanger
01:01:57
What if you laid off people in January/early Feb because you are in an industry that was affected by Covid early?
Stephanie Doulgass
01:02:24
A sub contractor 1099 doesnt have employees. So they wont qualify. Because this is to keep people employed. Correct
lynne cutler
01:02:35
ca is not automatically in
Vickie Rivers
01:03:01
OFN stated that CA was authorized
lynne cutler
01:03:02
we got a list we have to apply
Crystal Li
01:03:39
in the application process, it says Applicant Ownership (List all owners of Applicant with greater than 20% ownership stakes.) do non-profits have to complete this section?
lynne cutler
01:03:51
would yoube able to set up a template and worksheet for us to use to make loans or if we want to be an agent
Roberto Barragan
01:05:06
Actually on SBA call today where they said 1099s need to apply for their own EIDLs
lynne cutler
01:05:22
ca not automatically in-- we got a list from our state
Anna Isserow
01:05:43
can sole proprietorships with no employees apply for unemployment now? I thought they were not allowed to. did that change with this legislation or should they apply for PPP for their own salary
Kim Jacobs
01:09:08
Has anyone actually seen a three day turnaround?
Prism Group
01:09:18
https://www.sba.gov/funding-programs/disaster-assistance
TARA GRAY
01:09:27
https://covid19relief.sba.gov
Jen Faigel
01:09:38
Can businesses apply for the grant only? And not take the loan?
AEO
01:11:08
can you apply for both PPP and EIDL
Manuel Campbell
01:11:23
What criteria are they using to determine the loan amt?
Kim Jacobs
01:12:34
can you use one for payroll in April and the other for payroll in May?
Martin Nowak
01:14:11
What documents do clients need to prepare in order to apply for EIDL vs PPP? (Supporting documents)
Jamon Phenix
01:14:29
Please view a sample application for the Paycheck Protection Program (PPP): https://www.sba.gov/document/sba-form--paycheck-protection-program-ppp-sample-application-form
Jamon Phenix
01:16:42
Please click the link to apply for Economic Injury Disaster Loans (EIDL) here: https://covid19relief.sba.gov/#/
Jon Gaines
01:17:38
sba microlender + sba ca lender. does this mean we're eligible for PPP or should we still send email to delegatedauthority@sba.gov for confirmation?
Roberto Barragan
01:18:08
good slides, will you be making them available to us?
Mary Ann Kellam
01:18:10
I know you can’t take the PPP and the payroll tax prov. But what about the EIDL and the Payroll tax prov?
Suzanne Casaday
01:18:42
Are the slides going to be sent out to us or made avilable somewhere?
Sandy Berry
01:20:02
Can 501 c(3) apply for the PPP loan tomorrow? If so, where do we go to apply?
Abbey Salomon
01:21:23
You mentioned briefly that non-profits may not be able to apply for a PPP till next week with the independent contractors. Can you confirm this or not?
Vickie Rivers
01:22:06
Ca lenders already have Etran
Mary Ann Kellam
01:22:18
Thanks
Duane Lewis
01:22:25
Can you sell PPP loans in the secondary market?
Pattilyn Beals
01:23:32
Will there be an application on the SBA website?
Roberto Barragan
01:23:42
Yes banks are supporting existing customers only
Willow Wetherall
01:24:00
Support only for existing customers is what I am hearing for now. If lenders have more capacity in the coming weeks they may adjust.
Catherine Dolan
01:24:17
I have a client who has already called her existing bank and was advised they will not be participating. Where would you suggest clients like these go next?
lynne cutler
01:24:54
will you be sening this power point and recording this
AEO
01:25:57
Lynne - we will
lynne cutler
01:27:15
we need more capital to do th epaycheck loan
Vickie Rivers
01:27:32
Our banks are actively recruiting clients for this program (PPP)
Willow Wetherall
01:27:36
Client could also make sure financials are in order before pursuing other banks. Local SBA offices are helpful as well as SCORE.
lynne cutler
01:28:24
what's being done to get the same benefit to get CDFI loan so they have the 6 months payments
lynne cutler
01:29:12
cdfi loans need the same 6 month payment as CDFI
Willow Wetherall
01:30:25
Some of my clients are using a subscription to Live Plan to adjust their financials and run different scenarios. We have close partnership with local SBA and SCORE, but yes, mentors are swamped.
lynne cutler
01:30:38
sCDFI loan clients need the same benefit as 6 month payments as SBA laons it is discrimatory sba is paying 6 month of there loans-- what is being done
Kim Jacobs
01:32:06
totally agree with Lynn - hard to explain to clients
Willow Wetherall
01:32:24
Agree Lynne!
Jen Faigel
01:32:38
Bail out Main Street! Our businesses need grants, not loans!
Vivienne Hsu
01:32:41
Great point, Lynn. How do we advocate for this?
Stephanie Doulgass
01:32:50
You Are Correct !
TARA GRAY
01:34:13
Great point!
Vickie Rivers
01:34:51
o we just got formal notification that we as a CA lender ar approved. Shown on SBA site as an approved lender for PPP program, If you are a CA lender check the new site on SBA.gov
Linda SALMONSON
01:34:53
this would apply to Usda CDFI relenders as welll
Vickie Rivers
01:35:46
https://www.sba.gov/paycheckprotection/find?address=39503&pageNumber=1
Angelique Serrano
01:36:58
Next question please - Tony OR
lynne cutler
01:38:53
what new site on sba.gov
AEO
01:39:48
advocacy@aeoworks.org
Willow Wetherall
01:39:51
Very helpful webinar, thank you!
Duane Lewis
01:39:51
We are listed as well Vickie but I'm not sure if that means we are formally approved as PPP lenders
AEO
01:39:52
info@aeoworks.org
Jon Gaines
01:39:59
thank you.
Roger Palma
01:39:59
Thank you!
Tracey Barbour-Gillett
01:40:02
thank you
Paul Quintero
01:40:02
Great work AEO and John!
Stephanie Doulgass
01:40:04
thank you
Lenwood V. Long, Sr
01:40:28
Thanks AEO for this great information!!!