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Q&A Webinar for Bent Ericksen Clients - Shared screen with speaker view
Ray Maxwell
01:39:25
For forgiveness purposes, if you receive an EIDL loan that is larger than a PPL loan, can a portion of the EIDL loan equal to the PPL loan be rolled over into the PPL loan?
kristen
01:39:34
853
Mark Hawn
01:39:34
on 6/30/20 do the wages have to be accrued and paid out to equal or 75% of wages on 2/15/20, or do they just have to begin by then. what I mean is, do we need to start paying them for the 8 weeks prior to 6/30/20 so their wages are up? or can we start using the PPP money on 6/29/20?
Brad Stoker
01:39:47
Will the loan terms change for the PPP loan? With the loan calculations for the PPP loan, it includes the EIDL amount into it. If you do get the EIDL and it gets rolled into the PPP, do the terms of the loan change? Currently the terms for the PPP are 1% and 2 years. It would be difficult to pay the EIDL off in 2 years.
Jessica L. Mansfield
01:40:33
I have 14 employees. I had one employee quit and we terminated another between Feb 15 and Mar 15. If we can document this, will this even matter? or will they just look at the numbers from the 2/15/2020?
Naren Chelian
01:40:40
o Will there be an issue with loan amounts running out if wait too long on this? Since we don’t know when our State Mandates will be lifted?
Steven Hough
01:41:26
if you receive PPP and you have employees who are qualified for FMLA due to lack of childcare how do you calculate payroll
Julian Davila
01:41:32
Do you recommend applying to the EIDL now with the added 10k grant? Is the 10k grant forgiven? I understand if we do PPP, amounts forgiven from PPP will be reduced from this 10k grant
LisaMichalek
01:41:32
Adrienne did we understand that the extra $600 per week is NOT automatic? Do you have to specifically ask for this from the state UI?
Ray Maxwell
01:41:46
For forgiveness purposes, if you receive an EIDL loan that is larger than a PPP loan, can a portion of the EIDL loan equal to the PPP loan be rolled over into the PPP loan?
Beth Koza
01:41:51
What are your thoughts about dentists who are paid salary applying for unemployment?
Mark Hawn
01:41:59
so PPP money needs to be fully used by 6/30/20?
drsalcarcara
01:42:00
What if the office was closed for vacation on 2/5/20 - no payroll that week?
heather harris
01:42:13
When the pandemic ends, what do I do if I can't afford to bring my entire staff back again? What do I do in terms of terminating someone at the end of this temporary layoff?
Jim Eaker
01:42:15
If an assistant is furloughed but we have emergency, will they be disqualified from unemployment if they come in for brief time and assist?
Julian Davila
01:42:52
About the PPP, Once it is approved Can we choose to put a hold on the funding? So we wait for the best timing for the disbursements of the funds
BJ JMoorhead
01:42:56
My dental office building is owned by me under a separate LLC. Can I apply for a separate EIDL loan under the rental LLC?
Lysette Brueggeman
01:43:38
Do we have to accept the loan in order for it to be "funded"? Or will the $ automatically be deposited in an account in response to the application and that starts the "funded" date?
Mark
01:44:09
can you chose when you actually take the money?
Debbie Castagna
01:44:35
Did I understand Jim to say that it is a myth that you can file for both EIDL and PPP loans?
Shelly Nalley-Johnson
01:44:39
If I had an employee go out on quarantine on March 23 is she eligible to take advantage of FFCR starting on April 2? I was advised that because she was already out on quarantine that she was not eligible for this benefit.
DrHarning
01:45:00
I have 5 employees. If 2 or more employees leave for the FMLA provision just before June 30, are they considered employeed for the 75% of employees back to work?
Rick and danielle
01:45:03
What is the odds of this fund running out of loan money if we wait to apply?
vporta
01:45:39
Do we have to start using the PPL money as soon as we get it or can we start the 8 weeks later than when we receive it?
Valerie Romero
01:45:47
Adrienne did we understand that the extra $600 per week is NOT automatic? Do you have to specifically ask for this from the state UI?
Rick and danielle
01:46:47
I included retirement contributions for my staff in the loan computation. Will we be able to use the loan money to continue to fund the retirement plan or plans?
Tim 485
01:47:23
Is deferred rent an allowable expense for EIDL and/or PPP funds?
Julian Davila
01:47:48
Since we don’t know yet if once approved for PPP, funding will happen immediately or there could be a wait for funding. Are you recommending applying for PPP now or wait?
Lysette Brueggeman
01:47:49
I echo Tim's question.
LisaMichalek
01:48:28
Adrienne I remember from a prior webinar that each state had to request the extra funds for UI. Is that right and could this be why some states are not figuring benefits with that extra figured in?
Vi
01:48:47
IF I've made more than 100K a year, is my payroll not eligible to be calculated in PPP?
jennifermcconathy
01:49:17
I am interested why Jim feels we will most likely not get reimbursed with the PPP program.
jennifermcconathy
01:50:27
If you are not currently on payroll, for an example, take a draw, do you need to be on the payroll for the 8 weeks?
Vi
01:51:16
Is a SBA disaster loan (EDIL) different from the $10000 Grant sba is offering or are they the same thing?
LoAn
01:51:21
For the PPP loan, it asked number of jobs, are they asking for full time or the total number of people in the payroll?
Cecile Macatangay
01:51:27
is 7a loan part of the ppp loan? is it separate?
Maricelle Ortiz-Luis
01:52:15
how do you calculate full time equivalent if I only have independent contractor 1x per month and 1 RDA 24 hours per week?
Jennifer Staroba
01:52:36
How do we pay salaries associates who are employees, not independent contractors, at this time?
Shelly Nalley-Johnson
01:52:45
She was still employed and on payrole.
vporta
01:52:51
if we have people on sick leave now and they file for unemployment can we pay them for the sick time while waiting on unemployment
Mark Hawn
01:53:33
In order to be considered for full forgiveness, should we start using the 8 weeks PPP money at the beginning of May so that it is fully used by 6/30/20? Can we pay staff these normal wages even though they are not working because there are no hours available and they are on temporary lay off? Or do we need to provide "work" for them to do, and if we need them "working" how do we do social distancing when everyone is in the office "working?"
BJ JMoorhead
01:54:16
Once the loan is approved, if you don’t take it immediately, by any chance is the money reserved for you?
Cal's Ipad
01:54:24
you can apply for both EIDL and ppp loan but monies must be used for separate expenses and document which are used for what. can’t use both loans to cover same expenses...from what I understand
Steven Hough
01:54:47
unfortunately I got in late. will this recorded meeting be available to review?
Debbie Castagna
01:54:48
Have you heard if anyone has received the $10K EIDL grant yet?
Lysette Brueggeman
01:55:07
So does the 8 weeks start when you take the $, or when it is offered? When is it actually "funded"?
Waseem Mughal
01:55:18
when employee gets partial benefits do they still get extra $600
Philippe.Dame
01:55:28
I have to leave now for another conf call. thank you and stay safe!
adityachhibber
01:55:33
When one is offered the loan and you decline , can you reapply later on again?
liliancifarelli
01:55:46
Regarding the PPP, are we able to increase the pay of some of our employees in an effort to get more of the money forgiven?
Naren Chelian
01:56:09
o Is the business considered closed if Employees are working but we are NOT seeing patients?
Staff
01:56:16
ppp uses the 100,000 max cap to determine high grossing employees like the dr (this assumes $8333.33 income per month....however when using the ppp to pay the dr his/her normal paycheck size during the 8 week payback period are you only able to pay the dr $8333.33 per month or can u use the funds to pay the dr their normal salary like 12,000/month?
Rashi Majithia’s iPhone
01:56:36
if employee works part time... do they still get the $600 extra
eric gheewalla
01:56:47
Can I hire my wife or child (over 18) to help satisfy the PPP
MOSAIC Management Group
01:57:07
How are you supposed to spend the 10K grant from EILD loan? What are the rules for it?
Flavia’s iPhone
01:57:25
what do you mean by how you spend the grant vs the loan?
Maggie Garcia
01:57:25
I think I undertood that you can get UP TO 10k on that grant. Not everyone will receive the 10K
heather harris
01:57:35
Thank you all!
Eric Batterton
01:57:36
Thank you!
Maggie Garcia
01:57:41
Thank you
Rick and danielle
01:57:43
awesome. thank you!
Waseem Mughal
01:57:50
Thank you all
LisaMichalek
01:57:51
thank you
Dan Greising
01:57:55
Thanks for your time.
Tiffany Weiss
01:57:57
Thank you, very helpful...happy we have you all!
rosedifazio1
01:57:59
Thank you for a very informative session!
Grace Gapuz
01:58:02
Thank you.
Naren Chelian
01:58:05
THANKS TO ALL THE SPEAKERS! BE SAFE :)
Jennifer Rens DDS
01:58:06
Thank You
Waseem Mughal
01:58:11
appreciate for all the information
Elton Behner
01:58:14
Great information. Thank you! Have a great weekend.
Lucille Guastella
01:58:17
thank you!
Mary T
01:58:17
thank you!
Vi
01:58:17
Thank you so very much. It was a great webinar!!
Debbie Castagna
01:58:33
You are awesome—thanks so much for getting to my questions!
Lysette Brueggeman
01:58:34
Many thanks!
tthur
01:58:34
Thank You for giving your valuable time to us!
Vi
01:58:47
Can we have Tim Twig's info too?
MOSAIC Management Group
01:58:56
Thanks!!
drsalcarcara
01:59:06
Thank you everryone
Valerie Romero
01:59:09
Thank you
Arianne (Annie) H.
01:59:10
Really appreciate these seminars ! Thank you all!
Flavia’s iPhone
01:59:12
thank you!!!