Please mute your devices everyone
Have we heard about them pushing the 8 week a few more weeks now
what about the forgiveness timeline if your business is shut down (health and beauty)?
An attorney told me that you can pay your employees from the PPP dollar even if they are not actually in at work
What will happen if you learn that your employee also filed for unemployment benefits?
Would the PPP cover any portion of Real Estate Taxes?
If you are paying them through the PPP but that amount is much less than what they make through UI, would they be able to still file for the difference?
am I able to give everyone a raise to make the money go away within the 8 week period? can I take a raise during that time.
What about necessary time line - get the loan and do not need it till August - so would use loan now and then use own money that saved from using loan now
Can you pay a bonus during the 8 weeks to push you closer to the 75% threshold? or does it have to be called a "regular" payroll?
Wouldn't it be considered a reduction of hours for the UI
If you pay someone a bonus but you are not paying those who are off work, would that be a red flag by the SBA?
Ok, so our managers what are used to getting quarter bonuses we can use this money to make up what they basically wouldn't be getting for the end of the year
Real Estate Taxes
I don't see where in the initial application that the requirement was to pay employees in leau of them taking unemployment? Our intention was to use this money once we were allowed to re-open.
what about health insurance
I heard in another webinar that equipment loans/leases do qualify as "rent". Is this being debated?
Sorry need to Recap - should only do PPP loan only if your businesses need is necessary at time of the PPP loan
What about business insurance: general liability, P&C insurance? Does that count towards the 25% loan forgiveness?
I saw the SBA said you need to have them work the same amount of hours when they return to work. What if that isn't possible?
Thanks for your time Dee, Bill, Chris and Sara. Very helpful....Have an appt to get to...Be well everyone.
St Charles Chamber
Anyone else - have questions at this time or did we miss one of your questions? thanks for your engagement and participation
We have both hourly and salaried employees. From what you are telling us, if the PPL is based on head count, if paying out bonuses to your salaried managers, or adding new salaried hires, will the loan still be forgiven?
When we talk about moving people to a bonus etc. What is one manager makes a lot less than another and we moved them all to the $100,000. Would we need to look at it in a way differently because of the difference between those individuals?
will you have to show loss in revenue
I think we covered this, but when is the deadline to apply for PPP? Our club is closed as it is Non-Essential—but we may be open at some point in June.
Thank you to all that worked on this. Kim and Scott Hansen
Thank you for your time and input in educating us on this!
Thank You everyone for your help with all of this!!!
Hello and thank you for the information! Be safe!
Thank you all!
Thank you for putting together this webinar and to the moderators. Very insightful. Have a great day! Stay healthy!
Thank you for the insightful information - be well, stay safe.
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This is a great topic that adds value to our Chamber membership!