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YPO GOLD NE Virtual Meeting - Credit, Liquidity and Access to Capital - Shared screen with speaker view
randy seidl
Ralph-what happened to your hat?
randy seidl
Real question from Randy Seidl- for Shannon about PPP, I am the sole proprietor of 2 mass llc’s, one of them has 3 contraotors that were paid $369k last year. No one gets a real salary and I get whatever there is for profits. I have one tax return that covers the 2 llc’s and our personal side. Thx!
Mitchell Roberts
How much of the PPP has been committed out of the $349B?
Morris Housen
For Bob Rivers: When we prepare our pro forma for our bank (for our SBA loan, our credit line and our relationship), how important is it from your perspective to show light at the end of the tunnel. It is challenging to make assumptions around the "end" of corona.,
Kevin Davis
For Bob: We run a small investment fund targeting lower middle market companies that started in the Fall of 2019. How do you think the lending for M&A in the lower middle market will be impacted by the PPP and other activity over the next 90+ days? Should we be considering more than 90 days as reasonable for lending activity?
Mitchell Roberts
Can you detail the constraints placed on the Main Street lending program?
Peter Herman
For Bob: Will the SBA loans impact your ability to reallocate credit lines? We drew down our line already. if we obtain the ppp can we wind down our line?
E.Y. Snowden
For Shannon and Bob - A week ago Shannon said that the affiliate interpretation for PE & VC backed companies in context of the 500 employee limit was still being debated. Have Eastern Bank or others taken an approach that would allow these important early stage businesses to participate in PPP?
Raymond Therrien
Can I ask a question about the PPP forgiveness. Can the PPP be used to pay salaries in excess of $100k, if they were earning that amount in 2019..If so, will that effect the potential amount forgiven
Jim Colony
For Shannon: Where can we find your checklist and analysis for PPP loan forgiveness
Bob Grinberg
Are condominium associations eligible for the PPP
Bob Grinberg
Are Boston Charter School’s eligible for PPP
Related to loan forgiveness, Is the 100K cap per person still a relevant limit in terms of the 75% of the loan used toward payroll.
Raymond Therrien
I have been approved and already have the money and have another question regarding FTE count
Mitchell Roberts
Need to be unmuted on your end
Josh French - Nutter
@Jim Colony...our article can be found at https://www.nutter.com/trending-newsroom-publications-3-steps-calculator-determine-forgiveness-ppp-loan. The spreadsheet is linked within the article.
Joe Tagliente
do some banks have more influence than others? I have a friend who processed a $5M PPP loan through JP Morgan and he got his funds already.
Mitchell Roberts
I agree w Ralph
Peter Barkan
We are struggling with the Certification that "...this loan request is necessary to support the ongoing operations..." We are not experiencing that level of stress, but it seems that many similar applicants are getting the funds anyway. What is our risk?
Josh French - Nutter
All, as to Raymond's first question, slightly nuanced revision to my answer...you can pay payroll costs for people who make more than $100k, but the forgivable portion is capped at $8,333/month (pro rata portion of $100k/month)Conceptually, you can't just pay higher earners and get it all paid back...apologies for my broader than appropriate statement
Josh French - Nutter
Any other questions, feel free to reach out at jfrench@nutter.com
Nir Caspi
Thank you!