The CARES Act: Hosted by The Colorado Chamber & the U.S. Chamber of Commerce - Shared screen with speaker view
Lately there has been talk about preventing double dipping. What prevents an active company unaffected by the shut down from receiving the PPP loan when their staff is fully employeed.
Thanks for the question, Dean. I’ll add it to the queue for our Q&A period.
How can an employee prove it is COVID-19 related if facilities refuse to test, and so many tests are coming back as negative?
I have heard there is some problem with the state with getting unemployment pin number being mailed out to those people who have applied.
501(c)6 non profits are not eligible for the PPP at this time
Thanks Pamela & Melanie — I’ve taken your questions down.
Do we have an sense as to whether or not 501c6 organizations will be approved to receive aid/financial/payroll support?
Do we know what the schedule to use the PPP money will be? At what rate will the PPP loan be forgiven?
I’ve taken your questions down Tina & Tori. We have received a lot of questions about 501c6’s, and we’ll definitely get to that issue in the Q&A session.
How does this apply to start ups?
Colorado Department of Labor said this morning they are still not ready for Gig workers or 1099's to file tomorrow. They hoped next week.
Can you address why C6 organizations weren't eligible?
What if no payroll as a sole proprietor? How do you justify this?
Do Rural Electric Cooperatives 501(c)(12) qualify for this program?
If an employer has 1099 contractors does this count as payroll?
I have a employee who works for me part time and also has a full time job elsewhere. I have furloughed this employee but their full time position has let them go. If I pay this employee through the PPP loan program how will this effect the unemployment benefits of their full time position?
What happens if you are a start up with no payroll paid ?
With the PPP, what if we need to fire someone for cause? Will that go against our loan forgiveness?
Great questions everyone. We’ll try to get to them in the Q&A.
What if we have no employees?
I heard from the SBA that C6 organizations also do not qualify for the disaster loan either. Can you confirm?
It is the PPP slide up, not the EIDL.
Dave Tabor - Colorado Chamber
Thanks Kristen, we’ll try to get to that question.
So there is the PPP and EIDL, are there any other grants or loans we can apply for?
Thanks Stacey — I’ll put that question in the queue.
Hi everyone - Tori from the Strater on via phone. We have a lot of moving dates out there regarding opening dates - April 26 for stay at home, may 1 for restaurants, and our surrounding drive market states (NM, AZ, UT) with their own dates. How can we navigate this landscape to a responsible, successful, outcome?
Dave Tabor - Colorado Chamber
Kristen, it's because Congress was concerned that money would go to lobby firms.
You answered funding in regard to c6 organizations for the PPP program, but what about the 10K economic disaster loan? SBA says no.
This is all old news and been said
Sorry I have to jump on another zoom meeting, good info, pls send any additional info, thanks
You mentioned that funds are expected to run out next week...Do independent contractors and self-employed have the same opportunity to obtain a loan through PPP as small business? Given their application start date is tomorrow, but small businesses and sole proprietors could start applying on Apr 3.
Do you know if there are any discussions about funding back to work programs, such as grants that can be used to fund Public Work’s such as repairs of roads, bridges, parks, etc.
What about answers to all the rest of the questions? Will you provide feedback plasee?