The Federal CARES Act - Paycheck Protection Program - Shared screen with speaker view
I applied for a loan on the SBA web site this morning. It is called a Disaster Loan assistance. I am interested in the forgivable loan under the payroll protection plan . Did I go about this the wrong way/ If so how to I fix it . I have an application number.
Does Nicholas know what's on the slides? Seems like he's singing off a different sheet of music. Still good but a little hard to follow.
Under the PPP, if an employer's workforce has decreased over the past year due to recruitment difficulties, how can that be mitigated when calculating the amount that is forgiven. For example, if the average number of employee during 2019 was 200 but the average number for the first 2 months of 2020 was 170, how does that impact the forgiveness calculation?
The presentation came in the email from the Capital Region Chamber and you can download it.
Banks are saying they are not ready and cannot accept applications yet
What banks are ready that we can apply at?
here is the link that came in the email I was sent by the chamber this morning
as a single member LLC (self-employed), can you apply for PPP and DLA?
my understanding is that a single member LLC is a sole proprietor
Can we consider payments made to 1099 vendors as part of our payroll?
Debra Best, SPHR, SHRM-SCP
$600 weekly additional PUA benefit is automatically added to NYS UI weekly benefit whether currently receiving UI or initially applying - available from March 27th to July 31st.
Can we play this back when it is over?
We are participating in a NYS Shared Work Program in lieu of layoffs. Employees are eligible for partial NYS unemployment benefits. Are they eligible for partial or full Federal Unemployment?
Debra Best, SPHR, SHRM-SCP
Maximum combined NYS UI weekly benefit is $504; with the PUA benefit, maximum weekly total benefit until July 31st is $1,104. Goes back to $504 weekly August 1st.
Can an employer who pays himself a "draw" be included in the employee payroll figures?
What is the credit score needed to be eligible?
Does anyone know of a bank that is accepting PPP loan applications today? TD and GFN say they are not ready yet. Any banks accepting even if you are not currently a business customer?
Capital Region Chamber
This webinar IS being recorded and you will have access to the file after we are finished.
Is there a formal way for a small business to exercise the exemption for the child care provisions? (for those that have <50 employees and it would affect the viability of the company)
Capital Region Chamber
As an essential service, employing first responders, will we be able to recover any payroll costs incurred during this crisis?
M&T Bank isn’t ready yet either they have pushed it to Monday, Im guessing this is everyone. Sounds like they’re scrambling to keep up with the ever changing information
Are you only able to collect the additional $600 in UI if you are already at the maximum $504? Also, what is PUA?
none of the lenders are ready yet
Are there any emergency funding opportunities for non-profits/health clinics with more than 500 employees?
I may have one day per week work available to my secretary off site, would that preclude her from receiving the enhanced benefits or would it be pro rated
Could you provide some guidance on how to fill out the PPP application as a non-profit? Some of the questions seem very business focused... "List all owners of 20% or more of the equity of the Applicant. Attach a separate sheet if necessary. "
SBA Website for PPP lenders is www.sba.gov/paycheckprotection. Matt H at the SBDC
What if someone is the primary caregiver for a (special needs) child but also has the ability as a 1099 to make income sporadically?Do they qualify for unemployment benefits?
For EIDL $10,000, can you provide more info on what this money can be used for and how you need to justify any requirement the funds were spent due to lost revenue?
Business mandated closed for estimated 1-2 months. What are benefits for employees/employers for UI vs. PPP?
For a business organized as an LLC (multi-member), the owners are taxed as partnership, not W-2 employees and therefore are not on 'payroll' but get draws and pay estimated quarterly taxes. Are the LLC members also counted for payroll up to the $100k?
what if you had to lay off your employees as of March 31st are we still eligible for the PPP - to cover costs like rent, utilities and remaining payroll? 2x owners of small business that only had 3 employees
Also for payroll costs, what retirement benefits are included? matches? profit sharing?
If your employees have filed for unemployment - does this affect your businesses UI rating?
How long after the 8 weeks does the FTE count have to be maintained in order to have loan forgiveness?
if I already applied for disaster loan as a single member LLC (educational consultant), should I have NOT applied for that and just applied for PPP? If I get the $10000 DL grant, can I also accept the PPP?
I have heard that 1099s do not / cannot count toward our payroll calculation for the PPP. If you think about it, that's a separate company and they could also apply for the PPP so that amount of money would be paid out twice. If I have a 1099 bookkeeper and if I counted her on my payroll but she also applied for the PPP - her income (payroll costs) would be paid out by the government twice. Same with other subcontractors.
what if we are a season business c corp, our employees were unemployed, and we brought them back for a week then forced to close, what are they eligible for if back on unemployment
wait- if you’re a single member LLC, he said we CAN file for unemployment?! but can we ALSO still apply for EDL and PPP?!
Is there available emergency funding for Article 28 and Article 16 clinics through CARES?
do you have to bring al the staff back, if on furlong, before the end date of June, or can you use the PPP to pay for only the staff you were able to keep working
Their handout does not define FTE. I think the other person's question is what is considered an FTE. 20+ hours a week? 30?
If employees are collecting unemployment what else does a business of under 50 employees have to do for the employee
I meant for that to say ALL the staff back
small business with no employees, is the PPP available to help with rent and utilities due to mandated closure?
If you get approved for PPP and EIDL and also receive forgiveness, does the $10k grant on EIDL reduce the forgiveness on PPP?
SAME employees? Or SAME FTE count?
That's what I heard but that's not what he said....
FTE COUNT FOR PPP … same employees is what Nicholas said... but isn't it FTE count?