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Sticky For Covid Businees Info

 
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Old 04-02-2020, 04:30 PM   #1
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Sticky For Covid Businees Info


I think we need to set up a seperate section free from gossip that is flooding all the other Covid threads.

Something with useful links to help everybody navigate what
is coming down the pike with all the business funds that are going to be available and how/where to get them.
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Old 04-02-2020, 04:39 PM   #2
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Re: Sticky For Covid Businees Info


I'm reading self employed people regardless of having employees are eligible for 600 a week for four months.

What's sickening to me is people on unemployment getting 3-4 hundred a week would also get the 600 bringing in 8-900 a week sitting home.

We maybe eligible for grants but it's foggy.
https://www.cnbc.com/amp/2020/03/30/...eelancers.html

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Old 04-02-2020, 04:46 PM   #3
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I'm reading self employed people regardless of having employees are eligible for 600 a week for four months.

What's sickening to me is people on unemployment getting 3-4 hundred a week would also get the 600 bringing in 8-900 a week sitting home.

We maybe eligible for grants but it's foggy.
https://www.cnbc.com/amp/2020/03/30/...eelancers.html
The Grant's are the loan in advance up to 10 grand .
1) apply sba.gov

2) get set up with any sba bank maybe your bank is on list. Loans cover overhead. Essentially will keep you in flat line . Which as far as im concerned will keep you in the black.

3) ppp get in it.
If your guys are already fed for unemployment the loans are not forgiven.

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Old 04-02-2020, 04:46 PM   #4
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Re: Sticky For Covid Businees Info


Page three in my link from Ways and Means
https://www.contractortalk.com/f22/c...427469/index5/

I posted this on Wallmaxx's thread.
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Old 04-02-2020, 04:46 PM   #5
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Re: Sticky For Covid Businees Info


1099's sole proprietorship will be available to pay/ up and running next week.

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Old 04-02-2020, 04:54 PM   #6
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Re: Sticky For Covid Businees Info


Page 2 on that link makes it sound like you get state unemployment plus $600 from Feds from the stimulous.

But it sounds like your state has to sign up with the Dept. of Labor to be eligible.
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Old 04-02-2020, 05:03 PM   #7
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Page 2 on that link makes it sound like you get state unemployment plus $600 from Feds from the stimulous.

But it sounds like your state has to sign up with the Dept. of Labor to be eligible.
That's what I said. Almost everyone is dealing with deferred obligations outside of food and this becomes a windfall.

More than an independent contractor with an overhead. Home business with no employees the Fed will give you 600 otherwise.....you can go into debt in one form or another. That's what I see, thus far
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Old 04-02-2020, 05:29 PM   #8
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Re: Sticky For Covid Businees Info


Just got a call about my employee's workers comp claim and she mentioned there's a coronavirus fund where they will reimburse you for cleaning supplies, PPE, gloves and that sort of thing. Not sure if other states have it but this applies in Oregon.

From what I've heard from others, our state seems to have one of the cheapest, most effective, easiest to use workers comp system. So your mileage may vary.

https://www.saif.com/employer-guide/...fety-fund.html
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Old 04-02-2020, 05:35 PM   #9
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Re: Sticky For Covid Businees Info


For NJ. NJEDA.gov they even have a questionnaire wizard to help narrow down what you qualify for.
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Old 04-02-2020, 05:38 PM   #10
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For NJ. NJEDA.gov they even have a questionnaire wizard to help narrow down what you qualify for.
Tom what are you?
Sole prop ?
Corp?
Employees?

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Old 04-02-2020, 07:59 PM   #11
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Re: Sticky For Covid Businees Info


Snag.

https://www.zerohedge.com/economics/...verge-collapse
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Old 04-02-2020, 08:06 PM   #12
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.5% to 1%?... is that really a snag on a business loan?...
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Old 04-02-2020, 08:09 PM   #13
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Re: Sticky For Covid Businees Info


The banks weren't going to do the loans because it wasn't worth it for them.
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Old 04-02-2020, 08:22 PM   #14
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Wife is working from home and the founding partner has been hounding her non-stop for two days getting financial info together as they are applying for that money.
Day before yesterday she started at 7:30AM reading emails her boss sent her at 5:00AM.
She went non-stop until after 10:00PM. Then she just said f'it, I'm going to sleep.
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Old 04-02-2020, 08:24 PM   #15
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That's what I said. Almost everyone is dealing with deferred obligations outside of food and this becomes a windfall.

More than an independent contractor with an overhead. Home business with no employees the Fed will give you 600 otherwise.....you can go into debt in one form or another. That's what I see, thus far
"Windfall" how is $600 week a windfall?
I make a lot more than that a week.
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Old 04-02-2020, 08:25 PM   #16
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The banks weren't going to do the loans because it wasn't worth it for them.
Doubling the interest apparently changed the interest but if they maintain their employees for the two months (using a minimum of 75% of the money for that purpose), the loan is forgiven so it's kind of irrelevant what the interest is if it's used correctly...
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Old 04-02-2020, 08:33 PM   #17
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"Windfall" how is $600 week a windfall?
I make a lot more than that a week.
Windfall is an exaggeration but on top of the unemployment, taking home nearly a grand is a upward bonus for many.
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Old 04-02-2020, 08:34 PM   #18
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Re: Sticky For Covid Businees Info


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"Windfall" how is $600 week a windfall?
I make a lot more than that a week.
It's an extra $600 on top of what they were already getting for unemployment, which I think is around $300ish/week.

I don't know when you were last a laborer, but I can tell you that I never made $900/wk as a laborer.

I'd certainly consider that a windfall, given that it's tripling what they were currently making on just UI.
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Old 04-02-2020, 08:39 PM   #19
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Melissa Frances was on Tucker and said it's not just us it's global.
She also mentioned something I said a while ago.......what if figured out how to press pause. You don't pay me, I don't pay, they don't pay etc ....it's complicated

Still have to pay healthcare, food supply chain, gas, utilities ECT ...still a lot but...
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Old 04-02-2020, 08:39 PM   #20
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It's an extra $600 on top of what they were already getting for unemployment, which I think is around $300ish/week.

I don't know when you were last a laborer, but I can tell you that I never made $900/wk as a laborer.

I'd certainly consider that a windfall, given that it's tripling what they were currently making on just UI.
If there's no short-term sunset on that provisions, it becomes a disincentive for people to return to work...

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