SBA PPP and EIDL Small Business Loans (some money is forgivable)

[zh cohen]

Why not have a person to speak to?

I hear. Regarding your question, anecdotally it seems that CrossRiver did a good job (Kabbage loans are from CrossRiver)

[cgr]

its only highet education institutions. Yeshiva gedoilas, kollelim, not regular schools

It's just a matter of finding the list...

https://eab.com/research/strategy/resource/cares-act-higher-education-faq/

Any recipient of GEERF aid, including states, K12 agencies, and higher education institutions, are expected to maintain their payrolls and make payments to their current contractors. However, like other Education Stabilization Program stipulations on payroll, this is not a binding legal mandate.

How much total funding is available to institutions? 
$12.56B

[cgr]

United Talmudical Seminary
$4,482,702
Talmudical Seminary Of Bobov
$949,733
Talmudical Seminary Oholei Torah
$538,150
Seminar L'Moros Bais Yaakov
$644,413
Rabbinical College Bobover Yeshiva Bnei Zion
$751,000
Rabbinical College Of Ohr Shimon Yisroel
$460,264
Kehilath Yakov Rabbinical Seminary
$334,422
Central Yeshiva Tomchei Tmimim Lubavitz
$743,134

If you check out the last column you'll see they have to give a chunk of that as Grants and FA to sstudents.Parents should bang the doors down demanding to see that applied to their tuition.

[Mordyk]

If you check out the last column you'll see they have to give a chunk of that as Grants and FA to sstudents.Parents should bang the doors down demanding to see that applied to their tuition.

I saw that.  I doubt it will happen.

[TBD]

Not sure if this has been posted before but this grant can be incredibly helpful for many here and has not been spoken about much
https://savesmallbusiness.com/

APPLICATIONS HAVE CLOSED

We appreciate your interest in the Save Small Business grant program. Due to overwhelming interest in this grant program, we have reached our capacity and we are not accepting new applicants at this time. We know these are difficult times, and we wish we could help everyone who needs it. You can find additional resources to help guide your business through this challenging time here.

[tzifanya54]

Not sure if this has been posted before but this grant can be incredibly helpful for many here and has not been spoken about much
https://savesmallbusiness.com/

Did anyone get in?

[yzj]

I'm appalled. Instead of putting teachers and Rebbeim on unemployment, where they can receive $600+, (a huge bonus for many PT employees in the chinuch field) they're making out like bandits.

Before you make wild accusations, you have the wrong program buddy. The cares act is a separate program providing funding to help all colleges and students that gets automatically deposited in the account of each college or university without anything to apply for on the colleges end , a portion of which is to go to the students, based in part on prior pell. This has zero to do with the unemployment. How about calling each of the above institutions and asking mechila for badmouthing them without bothering to check your facts?

[TBD]

Did anyone get in?

Yes.

[cgr]

Before you make wild accusations, you have the wrong program buddy. The cares act is a separate program providing funding to help all colleges and students that gets automatically deposited in the account of each college or university without anything to apply for on the colleges end , a portion of which is to go to the students, based in part on prior pell. This has zero to do with the unemployment. How about calling each of the above institutions and asking mechiras for badmouthing them without bothering to check your facts?

Whoa. Let me clarify.
Institution of higher learning are getting these grants based on their payroll. It is suggested that they use it to pay their employees, but not obligatory.
My outrage is based on the fact that I spoke to several teachers over the last week or so, and while they've all seen a reduction in hours, and have not received paychecks since after Purim, they've been told that they have not been laid off, and should not apply for unemployment. Capiche?

[S209]

I'm appalled. Instead of putting teachers and Rebbeim on unemployment, where they can receive $600+, (a huge bonus for many PT employees in the chinuch field) they're making out like bandits.

1) What does this have to do with unemployment? Also, they are continuing classes so why would they put someone on unemployment? They need the teachers to continue working.

2) It’s for higher education institutions and based on PELL. There is a chance this will end up as an advance for the PELL they would have received.

3) Most of the funds are complicated to receive and need to be used for highly specific purposes, which they will be used for. We don’t know what they are yet. Perhaps they will be sending checks to students? Nobody has yet received the funding, let alone allocated the money, yet you’re already appalled with their use of it?

4) What is “making off like bandits” even supposed to mean? These are non-profit schools that generally need to fundraise to balance their books. The head of each mossad makes a salary, usually a paltry one at that. Nobody is lmaking off like a bandit”.

[yzj]

Whoa. Let me clarify.
Institution of higher learning are getting these grants based on their payroll. It is suggested that they use it to pay their employees, but not obligatory.
My outrage is based on the fact that I spoke to several teachers over the last week or so, and while they've all seen a reduction in hours, and have not received paychecks since after Purim, they've been told that they have not been laid off, and should not apply for unemployment. Capiche?

You are thoroughly confused. You are mixing this up with the wrong program. This has nothing to do with payroll or  employees in any way. These amounts are the CARES program. It has zero to do with employees. Zero.
Capish?

United Talmudical Seminary
$4,482,702
Talmudical Seminary Of Bobov
$949,733
Talmudical Seminary Oholei Torah
$538,150
Seminar L'Moros Bais Yaakov
$644,413
Rabbinical College Bobover Yeshiva Bnei Zion
$751,000
Rabbinical College Of Ohr Shimon Yisroel
$460,264
Kehilath Yakov Rabbinical Seminary
$334,422
Central Yeshiva Tomchei Tmimim Lubavitz
$743,134

[cgr]

You are thoroughly confused. You are mixing this up with the wrong program. This has nothing to do with payroll or  employees in any way. These amounts are the CARES program. It has zero to do with employees. Zero.
Capish?

Did you read through how the grant is calculated? Definitely based on payroll.

[S209]

Whoa. Let me clarify.
Institution of higher learning are getting these grants based on their payroll. It is suggested that they use it to pay their employees, but not obligatory.
My outrage is based on the fact that I spoke to several teachers over the last week or so, and while they've all seen a reduction in hours, and have not received paychecks since after Purim, they've been told that they have not been laid off, and should not apply for unemployment. Capiche?

These grants are NOT based on payroll, they are based on PELL received. The teachers you spoke to were from accredited institutions of higher education? Anecdotally, my wife HAS received a regular paycheck from her school. It’s possible some schools (like businesses) are waiting on PPP funding to pay teachers but that is hardly them being greedy. Not to mention they haven’t got the money yet.

Again, no business/school will send an employee to unemployment when they are going to be working/teaching. It’s not exactly greedy to be paying staff instead of sending them to unemployment anyway..

Amazing how the Zalis got $4.48M when you compare it in size to BMG

It is based on student enrollment and PELL funding

[S209]

Did you read through how the grant is calculated? Definitely based on payroll.

You’re talking about the PPP grant. This is a different grant administered by the Department of Education. I will link to the website where they explain the method of allocation.

ETA: Here you go https://www2.ed.gov/about/offices/list/ope/caresact.html

[cgr]

1) What does this have to do with unemployment? Also, they are continuing classes so why would they put someone on unemployment? They need the teachers to continue working.

2) It’s for higher education institutions and based on PELL. There is a chance this will end up as an advance for the PELL they would have received.

3) Most of the funds are complicated to receive and need to be used for highly specific purposes, which they will be used for. We don’t know what they are yet. Perhaps they will be sending checks to students? Nobody has yet received the funding, let alone allocated the money, yet you’re already appalled with their use of it?

4) What is “making off like bandits” even supposed to mean? These are non-profit schools that generally need to fundraise to balance their books. The head of each mossad makes a salary, usually a paltry one at that. Nobody is lmaking off like a bandit”.

1) part of the grant is an encouragement for them not to lay off employees. Too many unemployment applications from an institution will raise red flags, hence them not laying off officially. Classes are reduced by enough hours so that teachers would qualify for partial unemployment.
2) did you see the clause where it's encouraged but not mandated to be used for approved purposes?
3) see #2
4) ummm. Might be true for smaller mosdos, but beyond that, not so much...

[yzj]

1) part of the grant is an encouragement for them not to lay off employees. Too many unemployment applications from an institution will raise red flags, hence them not laying off officially. Classes are reduced by enough hours so that teachers would qualify for partial unemployment.
2) did you see the clause where it's encouraged but not mandated to be used for approved purposes?
3) see #2
4) ummm. Might be true for smaller mosdos, but beyond that, not so much...

“The CARES Act stipulates a funding formula to divide these funds among institutions. The formula has two distinct parts:

75% of the funds will be awarded based on the institution’s fulltime in-person Pell grant recipients as a share of the national total.
25% of the funds will be awarded based on the institution’s fulltime in-person enrollment who are not Pell Grant recipients as a share of the national total”

[S209]

1) part of the grant is an encouragement for them not to lay off employees. Too many unemployment applications from an institution will raise red flags, hence them not laying off officially. Classes are reduced by enough hours so that teachers would qualify for partial unemployment.
2) did you see the clause where it's encouraged but not mandated to be used for approved purposes?
3) see #2
4) ummm. Might be true for smaller mosdos, but beyond that, not so much...

The CARES Act stipulates a funding formula to divide these funds among institutions. The formula has two distinct parts:

75% of the funds will be awarded based on the institution’s fulltime in-person Pell grant recipients as a share of the national total.
25% of the funds will be awarded based on the institution’s fulltime in-person enrollment who are not Pell Grant recipients as a share of the national total.

[cgr]

“The CARES Act stipulates a funding formula to divide these funds among institutions. The formula has two distinct parts:

75% of the funds will be awarded based on the institution’s fulltime in-person Pell grant recipients as a share of the national total.
25% of the funds will be awarded based on the institution’s fulltime in-person enrollment who are not Pell Grant recipients as a share of the national total”

"Any recipient of GEERF aid, including states, K12 agencies, and higher education institutions, are expected to maintain their payrolls and make payments to their current contractors."

[cgr]

These grants are NOT based on payroll, they are based on PELL received. The teachers you spoke to were from accredited institutions of higher education? Anecdotally, my wife HAS received a regular paycheck from her school. It’s possible some schools (like businesses) are waiting on PPP funding to pay teachers but that is hardly them being greedy. Not to mention they haven’t got the money yet.

Again, no business/school will send an employee to unemployment when they are going to be working/teaching. It’s not exactly greedy to be paying staff instead of sending them to unemployment anyway..
It is based on student enrollment and PELL funding

Agreed they are not based on payroll, but it is recommended that institutions maintain their payroll.
The ones I spoke to were from various institutions, both K-12 and higher learning. I'm happy for your wife. Wonder if that's the rule or the exception.

If you can't afford to pay your employees right now, the right thing is to allow them to go on unemployment. PPP can't be backdated anyway, and you can rehire everyone once those funds are received.

[S209]

"Any recipient of GEERF aid, including states, K12 agencies, and higher education institutions, are expected to maintain their payrolls and make payments to their current contractors."

The funding amounts upthread were not referring to the GEERF. That is a state-administered fund for which no guidance has been received as of yet.