Yeah, I just clarified with her it was the stimulus. She explained it wrong when she told my wife, I thought it sounded very strange but some of the connections the very wealthy have, who knows.
Congrats! Wonderful news.well.
i guess good timing.
same day i posted in this thread.. Chase emailed saying they finally sent our loan to the SBA.
....and then the following day(yesterday?) we were advised that our lil' management company was finally approved.
LOL yes, my bad.
I think they are cracking down on the big rich smucks taking money not intended for them. This has been a huge undertaking and big banks and big costumers have ***** with it. Again, people should go to jail but will not. Sadly, the politicians are now less crooked than the so called "deep state" The bureaucracy is as as bad as the old USSR's was.
So far the feds are going after pikers.
Feds arrest 2 men in first fraud case involving PPP loan program for small businesses hurt by coronavirus
Congress created the Paycheck Protection Program as part of the federal CARES Act to help small businesses recover from the COVID-19 pandemic.www.usatoday.com
Fantastic movie and seriously underrated!
Great to hear!
I just checked back to see what happened. Thanks for posting it and good luck. I avoid social media completely and have worked from home for years now. CIS is actually my primary to ***** and receive *****ing. We have some really smart people on here and some not so smart, some good guys and some pure Aholes, but that makes for a good mix. Post like yours are a big positive add on to pure football. I had no idea so many Canes were small business people. What I like the most, that even after the most "spirited" discussion, even political, you can always get a cease fire with the smoke of Cane brotherhood.
I know for me I set aside the money and am moving it to my main account as payroll comes so if they ever ask where it went o can show it went to payroll. Hopefully that's enough for them to see and it can be forgiven.
I am doing the exact same. As I've mentioned, I got my PPP loan through a small credit union I became a new member of. I left that money in that account and moved all of the qualified expenses under the Act to pull from there directly. I don't plan on having anything else come out of there if I can, that way the account itself will be the ledger I can present for loan forgiveness. My "problem" is, I was approved for more than double what I applied for. I did not request the higher amount, however, the underwriter at the credit union said I was eligible for both the payroll side from my 940 as well as line 31 on my Schedule C because I file as a sole proprietor. Obviously, wonderful news in terms of getting additional money at this time, but I will not burn through that full amount on just payroll rent and utilities alone. Worst case, I'll end up getting a substantial loan at 1% interest which is a good thing itself, but I'm going to spend some time over these next few weeks figuring out potential ways I can make as much of that figure be forgiven as possible.
Good points I agree your not going to find a loan at 1% anywhere else. It's good to strategize how to use that other money wisely.