Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 197517 times)

Online AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2400 on: November 25, 2020, 11:16:01 PM »
Count on it.

I guess Iíll burn that bridge when it comes to it.

Offline ShimshonK

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2401 on: December 02, 2020, 02:02:34 PM »
I thought loans under $25k weren't being made public?
Search your name, it's all available on https://searchppp.com/ , along with your address.

Offline hvaces42

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2402 on: December 02, 2020, 02:04:51 PM »
I thought loans under $25k weren't being made public?
Search your name, it's all available on https://searchppp.com/ , along with your address.
No UCC filings is not the same as not being made public.
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Offline hvaces42

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2403 on: December 02, 2020, 02:06:57 PM »
Capital One finally has their PPP forgiveness portal open and its a dud. Asks for duplicate and triplicate of the same documentation. I have to submit 25 documents for forgiveness of less than $10k and this is the streamlined SBA form. Go figure.
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Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2404 on: December 02, 2020, 02:42:27 PM »
SBA released details on all PPP loans disbursed (business names, addresses, loan amounts, etc).
https://sba.app.box.com/s/5myd1nxutoq8wxecx2562baruz774si6/folder/127200074608

Offline Hjay

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2405 on: December 02, 2020, 06:57:12 PM »
SBA released details on all PPP loans disbursed (business names, addresses, loan amounts, etc).
https://sba.app.box.com/s/5myd1nxutoq8wxecx2562baruz774si6/folder/127200074608


Offline ShimshonK

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2406 on: December 02, 2020, 11:43:16 PM »
SBA released details on all PPP loans disbursed (business names, addresses, loan amounts, etc).
https://sba.app.box.com/s/5myd1nxutoq8wxecx2562baruz774si6/folder/127200074608
If that link isn't working, try the one I posted - seems that it's sourced from SBA, and seems to be very simple to use.
Actually quite fun to look at your zip code and it automatically shows you the loans in order of highest to lowest, so you can quickly see all the massive ones received in your area.
Search your name, it's all available on https://searchppp.com/ , along with your address.

Offline YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2407 on: December 02, 2020, 11:51:24 PM »
If that link isn't working, try the one I posted - seems that it's sourced from SBA, and seems to be very simple to use.
Actually quite fun to look at your zip code and it automatically shows you the loans in order of highest to lowest, so you can quickly see all the massive ones received in your area.
I'm actually a bigger creep than that. I started multiplying the loans by about 4.5-5 times and figuring out how much is each company's annual payroll. I also checked how many employees each one reported. I have a new appreciation for many companies, and I've learned that others are much smaller than I thought.

Yeah, I know. I'm a creep.
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Offline S209

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2408 on: December 03, 2020, 12:46:00 AM »
I also checked how many employees each one reported.
How?
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Offline YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2409 on: December 03, 2020, 01:08:38 AM »
How?
IIRC, itís a column on the Excel spreadsheet I downloaded through that link.
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Offline ShimshonK

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2410 on: December 03, 2020, 01:49:51 AM »
I'm actually a bigger creep than that. I started multiplying the loans by about 4.5-5 times and figuring out how much is each company's annual payroll. I also checked how many employees each one reported. I have a new appreciation for many companies, and I've learned that others are much smaller than I thought.

Yeah, I know. I'm a creep.
Haha, trust me, you're not the only one :)
For independant contractors, you should pretty much be able to see how much they made, no?

Offline ShimshonK

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2411 on: December 03, 2020, 02:00:56 AM »
I just noticed that Kabbage now has the forgiveness application up and running. Seems very simple and straight forward. Any reasons for a sole prop to wait?
I'm also a bit confused what the PDF forgiveness application is all about, if Kabbage has you enter everything through their website.

ETA: Seems that after answering the questions on Kabbage, you have to upload docs, so I'm guessing that just helps to prefill it, but not totally sure about that.
If there's any important instructions that's necessary for the forgiveness to be processed correctly, would like to know that.
« Last Edit: December 03, 2020, 02:07:05 AM by ShimshonK »

Offline Hjay

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2412 on: December 03, 2020, 08:14:34 AM »
I just noticed that Kabbage now has the forgiveness application up and running. Seems very simple and straight forward. Any reasons for a sole prop to wait?
I'm also a bit confused what the PDF forgiveness application is all about, if Kabbage has you enter everything through their website.

ETA: Seems that after answering the questions on Kabbage, you have to upload docs, so I'm guessing that just helps to prefill it, but not totally sure about that.
If there's any important instructions that's necessary for the forgiveness to be processed correctly, would like to know that.

What docs are they asking for? I thought small land donít need any docs just signing that one form?

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2413 on: December 03, 2020, 08:22:55 AM »
Haha, trust me, you're not the only one :)
For independant contractors, you should pretty much be able to see how good their accountant is, no?
FTFY
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Offline coffeebean

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2414 on: December 03, 2020, 09:01:59 AM »
Haha, trust me, you're not the only one :)
For independant contractors, you should pretty much be able to see how much they made, no?
*reported
I try to sound as intelligent as possible.

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2415 on: December 03, 2020, 10:04:05 AM »
I thought loans under $25k weren't being made public?
Search your name, it's all available on https://searchppp.com/ , along with your address.

Missed your post somehow but this link is a lot easier to use than the SBA csv files.

Offline cgr

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Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2417 on: December 03, 2020, 10:08:07 AM »
For independant contractors, you should pretty much be able to see how much they made, no?

Independent contractor loans were capped at 2.5X of $100k, so you can see if someone hit the 100k mark, but thankfully you can't see beyond that... now I'm thinking thank goodness they capped it at that. You'll forgive a company for having millions in payroll (and each employee is capped at $100k too), but if you find out that your miserly next door neighbor earned 7 figures you might not have been so charitable...

Obviously not talking about you specifically...

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2418 on: December 03, 2020, 10:10:39 AM »
I just noticed that Kabbage now has the forgiveness application up and running. Seems very simple and straight forward. Any reasons for a sole prop to wait?
I'm also a bit confused what the PDF forgiveness application is all about, if Kabbage has you enter everything through their website.

ETA: Seems that after answering the questions on Kabbage, you have to upload docs, so I'm guessing that just helps to prefill it, but not totally sure about that.
If there's any important instructions that's necessary for the forgiveness to be processed correctly, would like to know that.

The SBA released the pdf applications for banks and borrowers to know what's expected. Banks can then use the pdf as a guideline on what info they should collect via their own portal- there's no requirement to complete the actual pdf as is, as long as the information requested is being provided.

Offline coffeebean

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2419 on: December 03, 2020, 11:55:25 AM »
As an independent contractor what am I supposed to write if there's no set payroll?
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