Coronavirus Stimulus Aid Package

[mgarfin]

Yes, but grant must be used for certain expenses such as payroll (under EIDL company doesn't have to have any), mortgage/rent, utilities etc all in the companies name.
I have a feeling most people will be seeing grants in the $500 range because of the volume of applications (remember it's up to 10k)

What's the feeling of 500 based on?
Supposably they should be funding the grant within three days of the application

[TBD]

Anyone actually filed a EIDL application under new current guidelines?

[S209]

Anyone actually filed a EIDL application under new current guidelines?

I filed an application yesterday. What are the new current guidelines? We’ll see if I get 10K by Monday

[churnbabychurn]

Per new guidance to banks tonight, one can get the 10k Grant and then the PPP.

[cgr]

Per new guidance to banks tonight, one can get the 10k Grant and then the PPP.

That was always the case. The 10k then gets deducted from the forgiveness request on the PPP.

[TBD]

Per new guidance to banks tonight, one can get the 10k Grant and then the PPP.

Whats the link to this info?

[TBD]

I filed an application yesterday. What are the new current guidelines? We’ll see if I get 10K by Monday

Thru whom did you file? SBA or a bank?
Which documents/proof did you have to provide?
DId you ask for a specific amount or it totally depends on what they approve?

[mgarfin]

Thru whom did you file? SBA or a bank?
Which documents/proof did you have to provide?
DId you ask for a specific amount or it totally depends on what they approve?

EIDL
Is filled for here
https://covid19relief.sba.gov/#/

PPP we be through sba lenders

[cholent]

What makes a business eligible for the EIDL grant?

[Jack out of the box]

Tried two sites and it will not let you e-file if your income is zero. Says IRS will not accept e-file for it and must be mailed.

Before getting to tricks of the pros, let's wait and see if the IRS opens a system for these cases. They did give indication that they may do something.

[S209]

What makes a business eligible for the EIDL grant?

Just about anything AFAIK. Your business just needs to have been substantially affected by Covid. Who’s hasn’t?

[S209]

Thru whom did you file? SBA or a bank?
Which documents/proof did you have to provide?
DId you ask for a specific amount or it totally depends on what they approve?

You don’t ask for an amount on the application although that might come later

[churnbabychurn]

That was always the case. The 10k then gets deducted from the forgiveness request on the PPP.

Source?

[Jack out of the box]

has anybody figured this out? or now that social security recipients will get it automatically everybody else (high school students and college freshmans) are out of luck

High school students and college freshmen may be dependents in which case they would not qualify for the handouts.

[mgarfin]

Source?

https://www.sbc.senate.gov/public/_cache/files/9/7/97ac840c-28b7-4e49-b872-d30a995d8dae/F2CF1DD78E6D6C8C8C3BF58C6D1DDB2B.small-business-owner-s-guide-to-the-cares-act-final-.pdf

[zh cohen]

https://heavy.com/news/2020/04/apply-payroll-protection-program-sba-covid-19/

[aygart]

https://heavy.com/news/2020/04/apply-payroll-protection-program-sba-covid-19/

Bl;ocked by my filter but good luck applying.

[zh cohen]

Good luck applying.

Why? It's all online

[mgarfin]

Why? It's all online

This is what Chase sent yesterday


Dear Business Client,

Chase wants to help you get the Small Business Administration (SBA) Paycheck Protection Program emergency funds you may need to continue paying your employees and supporting your business.

Financial institutions like ours are still awaiting guidance from the SBA and the U.S. Treasury. As a result, Chase will most likely not be able to start accepting applications on Friday, April 3rd, as we had hoped.

Make no mistake – we will help you, our customer, with getting access to these emergency funds. And we will make it as easy as possible for you to get these funds quickly. We hope to have the guidance we need from the government soon so that we can begin assisting you.
Here's how to find out when the program is available:
We will announce when we can start accepting applications in several ways:
1.   We will send an email to all customers for whom we have an email.
2.   We will tweet at @ChaseforBusiness and @Chase.
3.   We will update our website chase.com/cares in real time.
Please do NOT go to a branch for this, as they will not be able to assist you. All applications must be made online through this digital form.
Be ready
We encourage you to be prepared so that you have what you need when we open our website for applications. Have the following information:
•   A Chase Business Online user ID and password – you'll need this to apply. If you don't have an active profile, click here to set up or update your online credentials.
•   The date you started your business
•   Detailed information to calculate the average monthly payroll costs.
•   Your annual revenue
•   Your business mailing address
Please know that Chase is doing everything we can to help you apply for this program. We will keep you updated on chase.com/cares.

Sincerely,
Jennifer Roberts
CEO, Chase Business Banking

[justmeha]

If someone is a dependent on 2019 but files alone in 2020 will they receive the stimulus check?