Posted on 04/03/2020 12:36:12 PM PDT by eastforker
This is what my Banker sent me today. I urge any of you who are self employed or contractor to apply for this.
I believe any small business can apply.
A caller on Rush called in about this today. He said the initial application was easy and only two pages. Once he submitted the form to the bank they then wanted over fifteen documents. He said it was nothing but a headache.
If anybody has gone through the process, share you experience.
Yes, this is different from the PPP, they will let you know within 3 days.
I think we are restricted from this. Our business is farm based, which is excluded, but most of our revenue comes from events, classes, agritourism and product sales (bath salts, candles, lotions, sachets, etc...) Our business has come to a halt - I’m not sure what path to take on this.
Do you have to be turned down for the loan before becoming eligible for a grant?
No you do this online,if approved, they wire it to your account in 3 days.
no, totaly seperate.
Bank of America will NOT handle your loan if your business does not have a loan with them or if you do not have a credit card with them They deem you “Not Qualified”..
Is this for the regular SBA loans or for the Payroll Protection Plan (PPP) application? The PPP loans seem to be getting held up by the banks today because they don’t understand the requirements or can’t trust the due diligence process.
Filled it out Tuesday, waiting for my bookkeeper to give me average monthly payroll for 2019 to the paycheck protection program.
I have the application for the PPP loan also and it does require extensive docs.
This is not the PPP, this is new and it is a grant straight out.
Yes, my banker said they changed the rules for the PPP this morning.
From what I have heard I’m pretty sure that I could have the government my salary (maybe whatever I say my salary is?) for at least some time.
I’m not sure that I want to do this.
ML/NJ
Where is the Grant application, I only see LOAN.
Would this be available for an LLC? I do not have any employees. Not sure if this is the way to go or file for unemployment? I can’t do that as my state has not figured out how to do that yet.
My boss is doing this. He wants to get us paid.
As long as the “Applicant does not present live performances of a prurient sexual nature or derive directly or indirectly more than de minimis gross revenue through the sale of products or services, or the presentation of any depictions or displays, of a prurient sexual nature”
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