Author Topic: Coronavirus Stimulus Aid Package  (Read 25651 times)

Offline zh cohen

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Feelings don't care about your facts

Offline zh cohen

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Re: Coronavirus Stimulus Aid Package
« Reply #317 on: April 03, 2020, 11:36:08 AM »
Good luck applying.

Why? It's all online

Offline mgarfin

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Re: Coronavirus Stimulus Aid Package
« Reply #318 on: April 03, 2020, 12:18:49 PM »
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

Online justmeha

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Re: Coronavirus Stimulus Aid Package
« Reply #319 on: April 03, 2020, 05:12:54 PM »
If someone is a dependent on 2019 but files alone in 2020 will they receive the stimulus check?

Offline sillypainter

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Re: Coronavirus Stimulus Aid Package
« Reply #320 on: April 03, 2020, 05:22:14 PM »
If someone is a dependent on 2019 but files alone in 2020 will they receive the stimulus check?

Yes. All is actually based on '20. The government uses '19 or '18 because they don't have the '20 numbers yet.

Offline ltttc

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Re: Coronavirus Stimulus Aid Package
« Reply #321 on: April 03, 2020, 05:26:12 PM »
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.

Bigger banks like Wells Fargo and BOA are accepting applications.

Offline sillypainter

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Re: Coronavirus Stimulus Aid Package
« Reply #322 on: April 03, 2020, 06:21:39 PM »
You can fill now out a form online with Chase for the PPP loan, but it's basically a call back form.

Offline herb

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Re: Coronavirus Stimulus Aid Package
« Reply #323 on: April 03, 2020, 06:26:30 PM »
Bigger banks like Wells Fargo and BOA are accepting applications.
anyway to apply with wells fargo? Tried calling multiple times today and no help

Offline Jack out of the box

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Re: Coronavirus Stimulus Aid Package
« Reply #324 on: April 04, 2020, 03:03:59 PM »
Yes. All is actually based on '20. The government uses '19 or '18 because they don't have the '20 numbers yet.
It's actually a 2020 tax credit which is being prepaid as long as the IRS has your info from a 2018 or 2019 tax return.

Offline churnbabychurn

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Re: Coronavirus Stimulus Aid Package
« Reply #325 on: April 04, 2020, 09:02:46 PM »
Looks like real estate investors are excluded from this PPP loan.

https://www.law.cornell.edu/cfr/text/13/120.110

As confirmed further by the SBA rules clarification [Docket  No. SBA-2020-0015]

Offline sillypainter

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Re: Coronavirus Stimulus Aid Package
« Reply #326 on: April 04, 2020, 09:06:16 PM »
It's actually a 2020 tax credit which is being prepaid as long as the IRS has your info from a 2018 or 2019 tax return.

Who said otherwise?

Offline AsherO

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Re: Coronavirus Stimulus Aid Package
« Reply #327 on: April 04, 2020, 09:21:07 PM »
Looks like real estate investors are excluded from this PPP loan.

https://www.law.cornell.edu/cfr/text/13/120.110

As confirmed further by the SBA rules clarification [Docket  No. SBA-2020-0015]

That includes (or should I say excludes) any LLC whose major asset is a property and major income is rent?
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Offline YesThatsMe

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Re: Coronavirus Stimulus Aid Package
« Reply #328 on: April 04, 2020, 11:01:59 PM »
It seems like in NJ, anyone making less than $68,276 is going to getting a nice little raise for being unemployed. For NY, it's $57,804.

Looks like a lot of people are gonna have some interesting conversations with their boss...

Online justmeha

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Re: Coronavirus Stimulus Aid Package
« Reply #329 on: April 04, 2020, 11:07:49 PM »
It's actually a 2020 tax credit which is being prepaid as long as the IRS has your info from a 2018 or 2019 tax return.
so what happens if you don’t owe taxes in 2020?