Zoom Logo

COVID-19 Small Business Forum Webinar Series - Shared screen with speaker view
David Betancourt
29:19
ASK QUESTIONS HERE
Wanda Green
30:16
Good morning everyone. I would love a line by line workshop for the grants/loans
Agatha Perez
32:23
Hello. Almost all of our staff had applied for Unemployment due got a sever reduction in hours. We have applied for the PPP loan. Can we use to pay for PT hours while we are closed or do we have to bring everyone back up to FT pay even thought we are closed? I read we have until June 30 to do so? Thanks!
Bryan Moeller WELLS FARGO
34:26
Agatha- you would estimate your average payroll from 2019. The forgivable part will be calculated after the 8 week period after you get the funding. If your payroll is less, then part of the forgiveness will be equivelent
Arthur Djahani
35:09
How do we handle cancelled in progress contracts as clients shut down and how do we transition to government contracts to compensate?
Ed Eccles
35:33
Is this about the Virus?
parvis ohal
35:45
this might be off topic. I did apply for the EIDL directly, and the PPP with HSBC, however I did not even get any respond or conformation that I did so. is this normal? its been few days and nothing.
John Bwarie - Dr. Lucy Jones Center
36:14
We will be answering your questions as soon as the update on the virus is complete.
David Richardson
38:17
Important to recognize that these are exponential graphs. not sure everyone is clear on this.
Wanda Green
40:03
Dr. Jones...I do not want the vaccine to be mandatory
Arthur Djahani
40:43
@ Wanda: Agreed
stephen jordan
41:24
This is actually an important metaphor for the social and economic fall-out as well - just as we look at individuals getting sick with x% fatalities, we could also do a similar chart of businesses being “sick” with x% casualties
Wanda Green
41:46
Thank you Dr. Jones
Gregg Sherkin
42:08
Thank you Dr. Jones. Sobering but we can take some solace in knowing our social distancing efforts are working in California.
stephen jordan
42:13
We should think about “flattening the curve” for businesses as well.
Gregg Sherkin
43:28
Agree Stephen Jordan.
Jason Kendziera
43:40
QUESTION FOR PANEL: What is the latest OFFICIAL information from the SBA regarding the EIDL loan? I've been hearing so many different opinions / "facts" about the $10k advance... Is there any official language on it?
Steven Turner
44:13
Tuna, what's status if Verizon grants?
Jason Kendziera
45:17
Xio - is that $10k advance OFFICIALLY means tested by # of employees "up to" $10K per employee?
Jason Kendziera
45:47
Sorry - $10k total (for 10 employees / $1k per employee)
Jason Kendziera
46:08
Tunua - Any update on the Verizon grant?
Sylvia Hernandez
47:16
I can’t no even apply because it is always saying join waitlist and you put your information and have not hear anything. What we can do ?
Wanda Green
47:29
Re: The loans...a business owner should only be allowed an initial loan/grant. Once applications from all groups have been allotted should a business be able to request a second loan (or receive a second loan)
Xio, Small Business Majority
47:39
Hi Jason, The SBA indicated $1k per employee, 10 employees max, so $10k max. Additionally, self-employed individuals will NOT be eligible for the “loan advance” — we recognize this is a huge gap for microbusinesses—the majority of small businesses in the US
Steven Turner
48:25
Has anyone on this call received relief from PPP?
Jason Kendziera
49:05
Xio - Wow. That SUCKS.
Nabii Bastet
49:55
yes I am a Wells Fargo customer and was told to go to online business and click on interested in ppp but there’s no link and I keep getting sent back to original page
Nabii Bastet
50:13
can I walk in the bank to submit my application
Victoria Flam
50:48
Citi Bank did not accept our PPP loan and we met every requirement....we are an essential business ( Locksmith and Security) and are risking our lives for you everyday.
David Anderson
51:00
Does anyone know what states the $70B in PPP have gone so far? How much to California?
jim landis
51:23
I applied for SBA, $10,000 advance, PPP & received confirmations from my bank, Chase or directly from the SBA. I have not rep’d any further communications or any direct deposit funding. Nor, the +/- $1200/per person in our family. Nada. Is this a shared experience?
stephen jordan
51:26
Some messaging has to be done about the process that the financial service institutions - from CDFIs through commercial banks to the SBA are all going through - we learned a fair amount about this from past disasters. This is a heavily regulated industry normally, and they have to jump through extraordinary hoops, they have balance sheet challenges, operational challenges, compliance challenges, personnel challenges - this isn’t an excuse, its just their reality
Renee Young
51:46
I am have a Chase business account and I had to fill out the online application twice -before I was able to complete the process and receive a confirmation
Barbara Moran
51:57
Xio, Jason, regarding the $10K, specifics, not covering owners, etc. This is huge, especially when it's the owners who are running things and keeping the doors open. Huge concern. Very stressful.
Nabii Bastet
51:59
what lenders are really accepting apps
Elianne Rodriguez | Bixel Exchange
52:13
For clarification: the money has been allocated but not disbursed. We have not yet heard about money being in bank accounts.
Wanda Green
52:17
Not with this webinar, but I am so overwhelmed and lost with all the information...nothing yet pushes me into any specific line...Sole proprietor, W2, and Gig Economy (self-employed), No employees
Antonio Ruiz-Amador
52:49
Hi - "ALL Business-Small Business Advantage" website mentioned that Independent Contractors/Sole-prop may Qualify for $1K "advance" is that the case?
LATANYA GIVENS
54:25
Does the $1000 includes the owner?
Jason Kendziera
54:27
Sebastian - Xio just said something totally different
Barbara Moran
54:31
If you applied EIDL in the very beginning (when you checked the box for the $10K), since there have been so many changes, do we need to reapply to both EIDL and PPP?
Jason Kendziera
55:05
If you're self-employed (1 employee) - are you getting any money from the EIDL advance or no?
Steven Turner
55:20
For commercial real estate owners, what relief due to tenants inability to pay?
stephen jordan
56:24
Individual banks and mortgage companies have different forbearance policies - a lot of them are adopting more generous practices, but check with your service provider
Ronald Clary
56:39
Sounds like sole practitioners without employees are being totally abandoned to starve.
Wanda Green
56:43
Re: Self employed...is the owner an employee?
Jason Kendziera
56:51
Ronald - YES!
Jason Kendziera
56:55
Wanda - Yes
Wanda Green
57:11
Thank you Jason
Oscar Gutierrez
57:31
PPP timing from application to funding estimates ?
Jason Kendziera
58:10
For PPP - your net earnings is your "payroll"
Jason Kendziera
58:24
net earnings on your Schedule C
Orawan Kidjapipat
58:27
I confuse it Sole Proprietor Loan Application underDisaster Loan Assistance https://disasterloan.sba.gov/ela/Information/PaperForms ??
Jill Carlton
01:00:01
what about sole proprietor with all part time employees?
Steven Turner
01:00:12
EILD is available for self-employed
Jason Kendziera
01:00:39
basically the PPP cap is $25k
Ann Zumwinkle
01:00:51
LA County webinar this week laid it out that PPP was only for sole-proprietors/self-employed with employees and EIDL was for everyone.
Jason Kendziera
01:00:58
$25k per person
Ann Zumwinkle
01:01:19
LA County webinar this week laid it out that PPP was only for sole-proprietors/self-employed with employees and EIDL was for everyone.Is this not correct?
Jason Kendziera
01:02:11
Sorry - PPP is around $21K per employee
Jason Kendziera
01:02:30
as a cap
Mohamed Hassan
01:02:42
I applied as broker/owner of S corp of realty for PPP and EIDL. I also sell and an active realtor. DO I also then apply for PPP and EIDL for myself separately in addition ?
Hana Kim
01:03:01
And just to clarify, it is not clear how it would be forgiven for sole-proprietors?
Hana Kim
01:03:15
PPP
Jason Kendziera
01:03:34
Cap calculation = $100k / 12 x 2.5 = $20,833
Antonio Ruiz-Amador
01:05:14
What about new start-up business LLC without employee payroll in 2019? Can 2020 income from Jan/Fab be used for PPP for self-employed/independent contractor?
Mercedes Raffulls
01:05:42
SBA website shows to count part time employees the same as full time
Jason Kendziera
01:05:49
Are there any State of California programs being started?
Jason Kendziera
01:05:59
These are all federal programs.
Nabii Bastet
01:06:36
can you repeat there name
Antonio Ruiz-Amador
01:06:58
RE: Unemployment Benefits for independent contractor
Jason Kendziera
01:06:59
What program is this?
Agatha Perez
01:07:12
I applied for an LA County Grant Program for up to 10K. Only 150 applications were accepted. Any more info on this?
Elianne Rodriguez | Bixel Exchange
01:07:14
Lendistry
Mohamed Hassan
01:07:43
Started a new llc Dec. 2019. Purchase a house to rehab with a loan. paying mortgage interest. Now I cant continue the rehab work while paying carrying costs etc. No tax returns for 2019 and did not pay myself yet 1st Q of 2020. So no ppp but can I apply for eidl.
Mohamed Hassan
01:08:13
What other sources for grants other than ppp and eidl, any state or LA/Ventura county level
Xio, Small Business Majority
01:08:31
Lendistry did get approved to process PPP
Jason Kendziera
01:08:54
THANK YOU for being so response to the chat questions!!!
Jill Carlton
01:09:04
have employees as of 1/1, only 1099s for 14 years before. plus, still don’t have 2019 tax forms. Will they accept 2018 1096 and/or 2020 payroll report?
Mohamed Hassan
01:09:19
Does self employed qualify for the PUA $600 weekly . How about the base unemployment as well or only the $600?
Steven Turner
01:09:26
Xi, is there not a credit relief moratorium by the credit agencies during this pandemic?
Nabii Bastet
01:09:36
name again please
Elianne Rodriguez | Bixel Exchange
01:09:47
Lendistry
Xio, Small Business Majority
01:09:51
Link to app: https://www.mylendistry.com/login.html | only processing in 6 states: CA, FL, GA, MD, MI and PA | Focused on processing PPP loans of $10K to $250K | Available to both new borrowers that are NOT existing clients and existing Lendistry borrowers. | There are bound to be tech glitches
stephen jordan
01:10:12
These are some of the ones ISD has been able to find:
David Anderson
01:10:30
We applied for PPP accept by our bank. What is the timeline for approval and funding to applications?
stephen jordan
01:10:59
CALIFORNIACOVID-19 LA County Response FundCOVID-19 Worker Relief FundPhilanthropy CaliforniaSocial Distancing Protocol for BusinessesSpanish Language COVID-19 InfoSpanish Language Video on COVID-19US Small Business Administration
Wanda Green
01:11:36
Tunua, what is your companies website?
Elianne Rodriguez | Bixel Exchange
01:11:39
David, reach out directly to your bank
Nabii Bastet
01:11:43
can new businesses apply started at eye end of 2019
Antonio Ruiz-Amador
01:11:47
Is unemployment open to independent contractors? Is there a new Federal Unemployment program for independent contractors?
Orawan Kidjapipat
01:11:53
For PPP Can business owners submit application direct with SBA? Because Bank give all below reason to business owners.1. They Bank reach the limited.2. Can not apply with other bank because they do not have existing account.3. The bank reserve the loan for only existing loan customers.
Elianne Rodriguez | Bixel Exchange
01:12:02
LISC.org
Wanda Green
01:12:17
Thank you Elianne
Yoryana Aguilar
01:12:42
what about for business owners with ITIN’s
michael stern
01:13:09
CA EDD denied my application as a self-employed person. Why was I declined if the program supposedly includes us types?
Xio, Small Business Majority
01:13:20
PPP applications are not being processed by the SBA rather through the financial intermediaries. SBA7a approved lenders + the SBA is adding additional intermediaries
stephen jordan
01:13:46
Here’s the link to the Philanthropy CA list of funds: https://www.philanthropyca.org/covid-19-response
Ronald Clary
01:15:06
MICHAEL STERN: According to information I received, the system is being updated and your application is subject to reconsideration.
michael stern
01:15:40
Do I have to push from my end or is the reconsiderastion automatic?
Jason Kendziera
01:16:09
I BELIEVE that self-employed individuals are eligible for both the State money and the federal $600
paula heartland
01:16:14
I applied to Edd and received back they are looking into my application.
Wanda Green
01:16:25
Also from what I understand Michael, you had to specify that it was directly for the Disaster Relief...there is a specific box to check
Jason Kendziera
01:16:36
State cap on EDD is $450 / week I think
Jason Kendziera
01:17:02
So, EDD would be $450 + $600 a week
Jason Kendziera
01:17:05
I THINK!
Ronald Clary
01:17:33
Being proactive could never hurt with EDD
Megan Graham
01:18:03
I have an employee who is trying to apply for partial unemployment since her hours were cut to 20 hours/week. We got some more work in, and want her to work 40 hours next week. She is considering not working those 40 hours because she's worried that if we continue to fluctuate her hours from full time to part time, it will affect her ability to collect partial unemployment. Can anyone confirm that the claims for partial unemployment can continue even if some weeks the workers work full time?
Barbara Moran
01:18:05
Sebastian ~ You reference talking with someone. That's the difficulty. As we recognize everyone is incredibly busy, the only real "human contact" with questions answered happens on these calls. We thank you, but realize you cannot answer each of our questions and talk through our specific situation. Most banks refer you to their link. No one wants to answer any questions.
michael stern
01:18:06
Thank you
Terrie Claypool
01:18:46
I rcvd a claim form from EDD but the dollar amount of resources was not on claim letter. I'm awaiting a letter with my ID so I'm able to create an account to see my benefit amount. I'm self employed. The claim form is allowed to be mailed out this Sunday. 2 week period
Jason Kendziera
01:18:58
Terrie - Same here!
Jason Kendziera
01:19:17
Thank goodness I'm not the only one...thought I did something wrong on the app
Jason Kendziera
01:19:23
Maybe we both did! :-)
michael stern
01:19:44
FYI, I applied online for my CA EDD benefit. I will go and revisit my application
Lorraine Zecca
01:19:50
CPAAcademy online webcasts - some are free
Terrie Claypool
01:19:54
The claim stated 10 days to receive funds. Unsure if funds will be on debit card, direct deposit of paper check?
Antonio Ruiz-Amador
01:20:05
Bixel Advisors have been great resource. Thank You!
Wanda Green
01:20:27
@ Jason, only if the applicant qualifies for the $450/week. That award is based on their highest quarter paid within the past 18 months...so it would be whatever the award + $600
Nabii Bastet
01:20:44
we can’t call Wells Fargo at all not even the automated
Hana Kim
01:20:54
@Terrie, when did you apply for the fund? Just trying to gauge my timeline.. :/
Jason Kendziera
01:21:42
Wanda - Sorry. Yes. Correct. "Up to" $450 per week depending on your highest quarterly salary.
David Anderson
01:21:56
Have the financial institutions like Wells Fargo setting caps on the number or $ amount of PPP forgivable loans they will issue?
Wanda Green
01:22:11
No worries Jason
Wanda Green
01:22:52
I'm appreciating you all so much right now. I still have butterflies, but I'm so grateful
Jacob Patterson
01:23:05
Sebastian, can you list these resources somewhere?
Elianne Rodriguez | Bixel Exchange
01:23:21
bit.ly/bixeladvising
Megan Graham
01:23:39
Bixel exchange has been very helpful! (thanks Sebastian!)
Elianne Rodriguez | Bixel Exchange
01:23:44
Bixel Exchange SBDC
Elianne Rodriguez | Bixel Exchange
01:23:52
bit.ly/bixeladvising
Jason Kendziera
01:24:11
Xio - what can we do to make sure microbusinesses are included in the next Federal bill?
Jason Kendziera
01:25:21
Is there a central organization that needs signatures or volunteers to make sure our politicians know about the microbusinesses needs?
Tracy Berry
01:25:31
When an independent contractor applies for the PPP, do 75% of the funds still need to be used for payroll in order for the loan to be forgiven? How would that be possible since independent contractors don't usually have employees?
Elianne Rodriguez | Bixel Exchange
01:25:40
https://smallbusinessmajority.org/
Wanda Green
01:25:51
Re: Paying....from what I understand, those companies that assist applicants get paid by the SBA (?). The assistant to the applicant cannot actually charge a fee...Last week a company had a fee amount posted...this week, as of yesterday, that fee amount was gone.
Wanda Green
01:26:05
...and the fee was nuts!
Xio, Small Business Majority
01:27:09
Broker fees can be collected and will be paid out by the lending institution which is ultimately paid out by the SBA - please do not pay any brokers!
Hana Kim
01:27:10
Thank you so much!!! This is really, really helpful
Nabii Bastet
01:27:27
can newly established business apply for ppp my business was established nov 2019
John Flynn
01:27:39
Do we hand carry a completed PPP firm into our local bank branch?
Jordana Soares
01:27:54
what about the new Ppp for self employed w no employees supposed yo roll out today?
Xio, Small Business Majority
01:27:55
While PPP does allow for brokers to be paid fees to process loans, those fees are paid out by the intermediaries and should not be charged to the business owner.Agent fee structure* One (1) percent for loans of not more than $350,000;* 0.50 percent for loans of more than $350,000 and less than $2 million; and* 0.25 percent for loans of at least $2 million.
Karen Biery
01:28:11
If I have an employee that has been off with a WC injury since November. I am not sure when she can work again but it may be soon. Do I include her in my number of employees?
Antonio Ruiz-Amador
01:28:21
SITE for Bixel/SBDC?
David Betancourt
01:28:57
bit.ly/bixeladvising
jim landis
01:29:02
For retail, the elephant in the room is the often tense relationship betw retail tenant & landlord. While there is an eviction moratorium in commercial (& residential), is there any legal (vs EIDL or SBA) relief in CA or LA?
michael stern
01:29:15
top notch info, many thanks
Elianne Rodriguez | Bixel Exchange
01:29:27
bit.ly/bixeladvising
Wanda Green
01:29:44
Thank you everyone
Jason Kendziera
01:29:44
THANK YOU!!!
stephen jordan
01:29:48
Great job presenters!
Agatha Perez
01:29:49
Thank you!
Yoryana Aguilar
01:29:52
Thank you!
Xio, Small Business Majority
01:29:52
https://go.smallbusinessmajority.org/l/229072/2020-03-19/6z7mt
Ronald Clary
01:29:52
Thank you
Karen Biery
01:29:54
Thank you
Gregg Sherkin
01:29:55
Great job panelists and John Bwarie.