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Stimulus Loan/grant

 
 
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Old 03-26-2020, 01:43 PM  
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Stimulus Loan/grant


Anyone know much about this yet? Hear if you donít lay anyone off you donít have to pay it back. Covers salaries and some of the overhead for 3 months. Anyone going to pursue this?


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Old 03-26-2020, 01:53 PM  
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Re: Stimulus Loan/grant


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Originally Posted by NYgutterguy View Post
Anyone know much about this yet? Hear if you donít lay anyone off you donít have to pay it back. Covers salaries and some of the overhead for 3 months. Anyone going to pursue this?


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My wife had a webinar with sba yesterday.
As of yesterday the ave Grant's ranging from 5000-50000 depending of where you fit in sole prop, small bus 100-500k sales 500-1mil. All know as of now is that you take grant they did know if you qualify for feed direct money.

Updated recently: fed fund's to be filtered thru sba.

Keep you posted.

It might good into local sba chapter. Where all over the place on ct so we might have conflicts based on areas demographics etc.


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Old 03-26-2020, 01:53 PM  
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Re: Stimulus Loan/grant


Devils in the details...
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Old 03-26-2020, 02:15 PM  
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Re: Stimulus Loan/grant


it changed again today
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Old 03-26-2020, 02:18 PM  
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Re: Stimulus Loan/grant


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it changed again today
What's the word

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Old 03-26-2020, 02:36 PM  
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Re: Stimulus Loan/grant


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What's the word

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don't know I just know they made changes to day before voting, heard it on the radio this afternoon

Also teachers whom are getting paid and will get a check also will be trying to get these grants because they will not be able to sign kids up for their side businesses in the summer, like math and science camps. Radio host was dumbfounded they would be looking for more money while people who are not getting paid are struggling.
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Old 03-26-2020, 02:40 PM  
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Re: Stimulus Loan/grant


The latest

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Old 03-26-2020, 02:40 PM  
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Re: Stimulus Loan/grant


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don't know I just know they made changes to day before voting, heard it on the radio this afternoon

Also teachers whom are getting paid and will get a check also will be trying to get these grants because they will not be able to sign kids up for their side businesses in the summer, like math and science camps. Radio host was dumbfounded they would be looking for more money while people who are not getting paid are struggling.

Can only imagine how much fraud there will be with all of these giveaways.


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Old 03-26-2020, 02:42 PM  
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Re: Stimulus Loan/grant


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Can only imagine how much fraud there will be with all of these giveaways.


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There also some loans at zero and some at 3.57+/- interest and forgiven.... no word if its same same loan or 2 types.
Have not sorted our all details
Stay tuned

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Old 03-26-2020, 04:42 PM  
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Re: Stimulus Loan/grant


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Originally Posted by NYgutterguy View Post
Anyone know much about this yet? Hear if you don’t lay anyone off you don’t have to pay it back. Covers salaries and some of the overhead for 3 months. Anyone going to pursue this?


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The latest I could find on NY state.

https://disasterloan.sba.gov/ela/Dec...rDocument/3464
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Old 03-26-2020, 06:07 PM  
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Re: Stimulus Loan/grant


All I know is its not for the likes of us.
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Old 03-26-2020, 06:30 PM  
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Re: Stimulus Loan/grant


Have friends that own their own businesss that arenít construction related. Completely shut down. They are hurting big time. Iíll
Be able to still work, for now. Take enough to pay my bills. Have always lived lean anyway.

This is why I always believe in putting down a lot on anything I buy to keep monthly payments low. Iíll be fine. Worried about the bar owner, barber, dog groomer and some other friends.


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Old 03-26-2020, 06:37 PM  
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Re: Stimulus Loan/grant


We have the luxury of just pushing for more work when this is all over.

Most folks with a brick and mortar location can't. At least not as easily. We can just raise prices and push harder.

A barber is stuck with the customers that come in for the most part.

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Old 03-26-2020, 07:02 PM  
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Re: Stimulus Loan/grant


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Have friends that own their own businesss that aren’t construction related. Completely shut down. They are hurting big time. I’ll
Be able to still work, for now. Take enough to pay my bills. Have always lived lean anyway.

This is why I always believe in putting down a lot on anything I buy to keep monthly payments low. I’ll be fine. Worried about the bar owner, barber, dog groomer and some other friends.
Same here. I am in a good position to weather this storm, but these so called non-essential businesses are essential to the people who work there. My wife and I do as much as we can to help. I have offered to loan money to a few close friends if/when the time comes to keep them in business. We order take out food now more than ever to try and support local restaurants. We go grab coffee and such at the local mom and pops as much as possible. Not many of the other types of local businesses we use are open now given the current restrictions.

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Old 03-26-2020, 07:08 PM  
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Re: Stimulus Loan/grant


Today they said that 70% of the small businesses would likely close if the shutdown is another 2 weeks. I think that is low.
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Old 03-26-2020, 07:12 PM  
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Re: Stimulus Loan/grant


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Today they said that 70% of the small businesses would likely close if the shutdown is another 2 weeks. I think that is low.
Alot of these businesses are just getting by when things are good so I could see that. Sad really
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Old 03-26-2020, 07:28 PM  
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Re: Stimulus Loan/grant


Quote:
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Today they said that 70% of the small businesses would likely close if the shutdown is another 2 weeks. I think that is low.
This will sound harsh but a small business that can't handle a few weeks without income isn't much of a business.

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Old 03-26-2020, 09:21 PM  
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Re: Stimulus Loan/grant


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This will sound harsh but a small business that can't handle a few weeks without income isn't much of a business.

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True enough.

But where the competition is fierce, the margins are small.

Tough to be a brick and mortar store with a local market, like a restaurant.

They canít really sell what they make on Amazon.




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Old 03-27-2020, 06:35 AM  
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Re: Stimulus Loan/grant


The unemployment number for the week ending last Saturday demolished all previous records going back more than 50 yearsÖ

No state was spared. The services sector took it hard, and within that sector hotels and restaurants took it hardest.
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Old 03-27-2020, 07:05 AM  
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Re: Stimulus Loan/grant


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The unemployment number for the week ending last Saturday demolished all previous records going back more than 50 yearsÖ

No state was spared. The services sector took it hard, and within that sector hotels and restaurants took it hardest.
Kinda' hard to put hotels on the take-out menu...

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