Author Topic: Coronavirus Stimulus Aid Package  (Read 154080 times)

Offline TBD

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Re: Coronavirus Stimulus Aid Package
« Reply #280 on: April 02, 2020, 04:45:52 PM »
Application form
it seems that payroll will be based on 2019 not on the 12 months proceeding loan application.. and only 25% will be anle to be used for rent, utilities under the forgivness program

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Offline cgr

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Re: Coronavirus Stimulus Aid Package
« Reply #282 on: April 02, 2020, 05:11:50 PM »
That's what I said, but now it's not posted on the website anymore
Looks like they moved it to the FAQ section

Offline etech0

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Re: Coronavirus Stimulus Aid Package
« Reply #283 on: April 02, 2020, 05:14:56 PM »
Looks like they moved it to the FAQ section
link?
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Offline cgr

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Re: Coronavirus Stimulus Aid Package
« Reply #284 on: April 02, 2020, 05:36:51 PM »
Also if you click this link on that page:
Frequently Asked Questions about Unemployment Insurance During the Coronavirus Emergency.
https://www.labor.ny.gov/ui/pdfs/ui-covid-faq.pdf

Here is one of the Q&A:
.

Offline etech0

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Re: Coronavirus Stimulus Aid Package
« Reply #285 on: April 02, 2020, 05:56:07 PM »
.
But as you said that is specific to PUA not regular unemployment?
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Re: Coronavirus Stimulus Aid Package
« Reply #286 on: April 02, 2020, 06:13:47 PM »
But as you said that is specific to PUA not regular unemployment?
No. It's for all unemployment. See the section for general unemployment questions

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Re: Coronavirus Stimulus Aid Package
« Reply #287 on: April 02, 2020, 07:02:55 PM »
Ok thanks. Will look into it.
Any clarification on this?

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Re: Coronavirus Stimulus Aid Package
« Reply #288 on: April 02, 2020, 07:13:56 PM »
Any clarification on this?
Yes, the grant is separate from the loan. Not sure how it's supposed to work (as far as the gov is concerned) because you can always choose not to take the loan, which means they're giving grants away to anyone who has seichel enough to fill out an application and use the money for allowed expense.

Offline shapsam

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Re: Coronavirus Stimulus Aid Package
« Reply #289 on: April 02, 2020, 07:20:11 PM »
Yes, the grant is separate from the loan. Not sure how it's supposed to work (as far as the gov is concerned) because you can always choose not to take the loan, which means they're giving grants away to anyone who has seichel enough to fill out an application and use the money for allowed expense.
Do you need to apply for the PPP loan in order to get the $10k or is this application enough?
https://covid19relief.sba.gov/#/

Offline cgr

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Re: Coronavirus Stimulus Aid Package
« Reply #290 on: April 02, 2020, 07:24:44 PM »
Do you need to apply for the PPP loan in order to get the $10k or is this application enough?
https://covid19relief.sba.gov/#/
This application, EIDL, is for the 10k grant.
The PPP is a different program with different rules and no grant (does have a forgiveness option but with stricter rules on how/when to use)

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Re: Coronavirus Stimulus Aid Package
« Reply #291 on: April 02, 2020, 07:25:32 PM »
Yes, the grant is separate from the loan. Not sure how it's supposed to work (as far as the gov is concerned) because you can always choose not to take the loan, which means they're giving grants away to anyone who has seichel enough to fill out an application and use the money for allowed expense.
Thanks.

Offline shapsam

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Re: Coronavirus Stimulus Aid Package
« Reply #292 on: April 02, 2020, 07:26:49 PM »
This application, EIDL, is for the 10k grant.
The PPP is a different program with different rules and no grant (does have a forgiveness option but with stricter rules on how/when to use)
So anyone that has ANY small business can get $10k if they feel they were impacted by covid?

Offline AsherO

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Re: Coronavirus Stimulus Aid Package
« Reply #293 on: April 02, 2020, 07:28:46 PM »
So anyone that has ANY small business can get $10k if they feel they were impacted by covid?

From the application it seems like it’s “up to $10k”, and on a PowerPoint from an an SBA office it seemed like how much might depend on # of employees. Could very well have been a PowerPoint created by someone who made incorrect assumptions.
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Offline cgr

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Re: Coronavirus Stimulus Aid Package
« Reply #294 on: April 02, 2020, 07:30:11 PM »
So anyone that has ANY small business can get $10k if they feel they were impacted by covid?
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)

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Re: Coronavirus Stimulus Aid Package
« Reply #295 on: April 02, 2020, 08:15:15 PM »
Banks receive a 5% origination fee on loans up to 350K and 3% from 350K-2M. Don’t know what they get 2M-10M.

Seems it’s 1% above 2M

https://home.treasury.gov/system/files/136/PPP--IFRN%20FINAL.pdf
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Re: Coronavirus Stimulus Aid Package
« Reply #296 on: April 02, 2020, 08:40:47 PM »
is the 600 Unemployment based on income? or is it a flat amount no matter the income amount?

Offline etech0

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Re: Coronavirus Stimulus Aid Package
« Reply #297 on: April 02, 2020, 08:46:22 PM »
is the 600 Unemployment based on income? or is it a flat amount no matter the income amount?
flat amount
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Re: Coronavirus Stimulus Aid Package
« Reply #298 on: April 02, 2020, 09:04:04 PM »
Anyway to e-file a return with 0.00 income?
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

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Re: Coronavirus Stimulus Aid Package
« Reply #299 on: April 02, 2020, 09:07:09 PM »
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