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Q&A Thursday with SBDC Business Advisors - Shared screen with speaker view
Judi Boehm
16:13
did you say it was noon the governor was going to making a announcment?
peter.harriman@maine.edu
16:59
Yes... the Governor announced a special announcement at noon
Judi Boehm
18:03
Thank you and Thank you for providing this Q/A today! nice to have support during these difficult times
Brian plavnick
21:26
yep
Brian plavnick
21:40
I will be doing both
Chrystina Gastelum
21:55
we appreciate you!
Nancy Callahan
22:01
The governor is recorded as well. I agree this is more valuable
Judi Boehm
23:17
Where can one go to hear the recording of the governor after this Q/A?
Brian plavnick
23:49
good question
Chrystina Gastelum
25:07
It’s nice to be on one of these webinars without having to contend with 400 other people’s questions!
Judi Boehm
26:03
Agree
Brian Warren
26:31
I am muted by the host it says
Sandra Alvarez
27:37
Hi, Has there been any published guidance on what will happen if your company does not use 75% of their PPP loan towards payroll but instead towards rent/utilities? I have read that audits will occur, which assuming we used it towards rent, the only "consequence" seems that it just wont be a forgivable loan.
Jennifer Boutin
27:40
Feel free to submit your question here.
Jen Anderson
30:42
Is there a way to still apply for the EIDL grant ? I saw it was available for agricultural but I am not in that industry.
Jen Anderson
33:19
also am I correct that you can not receive both the PPP and unemployment? I know people who have received both and am confused.
Chrystina Gastelum
35:07
I received $1000 in my bank account via EIDL but NO communication or any followup. My confirmation starts with 3. Just FYI.
Sarah Szwajkos
36:16
There is a mystery $1000 deposit in my bank account too - think the same thing as Chrystina’s comment above.
Sean Mitchell
36:48
could be unemployment if you applied
Sarah Szwajkos
36:52
Also - re: PPP - I received an email from my bank (The First NA) yesterday that I just read - with info that the PPP forgiveness guidelines have changed.
Sarah Szwajkos
37:06
And that significant changes apply to Schedule C filers.
Kim Jacques
37:13
what if we can not reopen until Phase 3?
Sarah Szwajkos
37:19
PLEASE SHARE THAT WITH PETER - I can forward him the email and documents.
Sarah Szwajkos
37:37
(Sean - not unemployment. I could only file last Friday and the deposit was the week before.)
Sean Mitchell
38:33
(Sarah) Did you apply for the eidl?
Kate O'Connor
38:56
I hear
Sarah Szwajkos
38:57
Yes, Sean, EIDL Application was 4/3/20; confirmation # starts with 3.
Jennel Johnson Pendleton
39:38
Why wasn’t my owners draw allowed to be added to the PPP application? My loan amount was based on my seasonal employees, which is crazy small, because I only have employees 3 months out of the year.
Kate O'Connor
39:59
my friends boss got PPP but he says he’s not using it for payroll at all. is that even allowable?
Sheryl Peavey
40:15
Can you clarify the two week period again? I thought it was eight.
Patrick Day
41:38
My bank returned my advance, they said the name was misspelled. Will the advance be sent back? I called and corrected the information.
Sarah Szwajkos
43:42
How do we know which part of the EIDL is advance vs loan?
Jillian OBrien
44:48
I heard that if the EIDL monies was used for bills other than payroll, rent, and utilities that it would not decrease the amount forgiven of the PPP. Can you clarify this please?
Sarah Szwajkos
49:38
re: PUA unemployment for self-employed.
Judi Boehm
50:32
Have your heard if there might be any programs for lost revenue in regards to lodging?
Sarah Szwajkos
51:01
How do we report earnings if we work, but have to invoice the work, which week do we report the earnings? week worked or week money received (cash basis accounting, not accrual)
Mattie Sheppard
52:54
how long do you have to be in business to apply for EIDL?
Chrystina Gastelum
53:02
I have some income from my LLC (which got PPP) and some income from my Sole Prop (which didn’t). I have certified for the weeks where I was getting money from PPP and declared the amount I was paid, but I have schedule C income aside from that that I’m hoping to recoup via unemployment. It seems inside the bounds of what’s allowable right now, but there was no way to specify that in the application or weekly certifications.
Jennel Johnson Pendleton
53:21
If I accept PPP the week it is deposited into my account I can no longer file for unemployment, correct?
Patricia Twum-Antwi
54:21
I applied and got email that my sba application was being processed. Now I try to login in and I am trying to retrieve my login info and it said I d/n exist
Daniel Jones
54:44
If we applied for PPP with 7 employees and only have 4 after receiving loan, can you return unused portion and still receive forgiveness for funds used on 4 remaining employees?
Daniel Jones
55:56
state is offering a loan through FAME. low intrest working capital loan.
Robyn Deveney
58:08
Does Workshare also apply to self-employed with no payroll employees?
Lida Hutchings
58:10
Will Workshare work for businesses under 15 employees or is it designed for larger organizations?
Judi Boehm
01:00:33
Thank you Anne, Jennifer and Peter
Sheryl Peavey
01:02:29
But are those amounts for PPP, whether 75 or 25 for expenses you’re PAYING or INCURRING in the 8 week period?
Jillian OBrien
01:03:37
Have you heard anything about whether you can pre-pay payroll (say for the payroll that ends after the 8 week period of the PPP) to be sure that you maintain the 75% payroll?
scotton
01:08:20
I am self employed. I received the PPP. I understand I am able to pay myself in order to meet the terms for forgiveness of the loan. Am I correct?
Sarah Szwajkos
01:08:46
but you should keep filing each week, correct? if you use PPP for payroll once received, and have applied for and received confirmation of PUA unemployment benefit…?
Chrystina Gastelum
01:09:20
My Mystery deposit was “MISC PAY SBAD TREAS” — it could really only be EIDL in terms of things I’ve applied for.
scotton
01:09:50
Can you apply for both the EIDL and the PPP?
Lida Hutchings
01:12:09
It doesn't seem fair that each lender will have various levels of scrutiny over forgiveness. I hope they continue to push SBA for more guidance.
Allan Lang
01:13:04
To: Scotton. We applied for both and have received both (at least the grant part of the EIDL, so far)
Cynthia Chadwick-Granger
01:13:24
Also people need to realize you will not get the ppp with using you SCHEDULE C and if you showed a loss on the business you will not be able to get the loan???
scotton
01:13:24
Thank you for that…
Sheryl Peavey
01:15:18
Ok, but you get bills that you pay in that window of 8 weeks for expenses that are delivered outside of those 8 weeks.
scotton
01:16:39
And I applied using my Sch. C for my business and we just applied for the EIDL for my husbands sch. F can I also apply using my sch. C?
Sarah Szwajkos
01:17:45
I meant reporting income for PUA
Sheryl Peavey
01:24:24
THANK YOU!
Robyn Deveney
01:25:12
Is PPP only for businesses that are completely shut down?
Lida Hutchings
01:25:31
For those curious about status of their EIDL - We received an email from SBA regarding our EIDL this week - all it said is they are processing application in order received and expect an email when there is a change in the application status. We applied on 4/13 and received EIDG this week.
Nancy Callahan
01:25:35
https://www.youtube.com/watch?v=hb2FFh-0gPs&fbclid=IwAR3BPq_kTIVfNACU2gT2dyWyRl_inCegatsyM5---ORPgTKTf3Gc5KN_SVo

You can work a partial week on Unemployment but not direction on how to determine salary for self employed. A hair cut is not salary because there are expenses also need to be paid so not straight salary
Sarah Szwajkos
01:27:41
If EIDL money just showed up in my account by direct deposit, how do I know if it’s a loan or grant?
Jennifer Boutin
01:28:55
Any questions I missed?
Chrystina Gastelum
01:29:16
I know this has been addressed, but I’m still unclear about how the EIDL reduces PPP forgiveness. If you use EIDL for other operating expenses, does it still reduce the forgivable portion of the PPP?
Sarah Szwajkos
01:29:25
YAY - finally some good news. ;) re EIDL grant
Robyn Deveney
01:29:36
So if I can draw on an emergency fund to continue operating, I shouldn't apply for PPP?
Jillian OBrien
01:29:42
I heard that if the EIDL monies was used for bills other than payroll, rent, and utilities that it would not decrease the amount forgiven of the PPP. Can you clarify this please?
Chrystina Gastelum
01:30:12
yes, the advance
Lida Hutchings
01:31:42
So if you timed it right and your advance came after 8 week PPP you can forgive both?
David Stensland
01:32:24
Sorry if already asked: PPP guidance yet on seasonal employees (we’re busy up to March, then slow, do I keep paying employees that are usually done after March?)
Robyn Deveney
01:32:44
Bank account $s
Robyn Deveney
01:33:36
👍
Dan Smith
01:35:01
Thank you for the information
Chrystina Gastelum
01:35:05
I am pretty certain that it’s ok to go back to using PUA after the 8-week period if we are still not open (which I won’t be). Is that right?
Chrystina Gastelum
01:35:52
(Sorry, I meant if you’ve got a PPP and your’e still not open after 8 weeks, you can still apply for PUA at that point, right?)
Lida Hutchings
01:37:11
Any idea when SBA is expected to issue final guidance on forgiveness?
scotton
01:37:17
Having applied for the EDIL how long can I expect before it is deposited should my application be accepted?
Chrystina Gastelum
01:38:11
I’m in phase 3, so I won’t be open.
Sarah Szwajkos
01:38:39
This is what I received from my PPP loan officer in an email dated yesterday:
Chrystina Gastelum
01:38:41
I think it’s July 25
Sarah Szwajkos
01:39:10
(sorry - it will not paste. I will follow up with Peter.
Lida Hutchings
01:40:20
it was about 3 weeks for us to get the advance.
scotton
01:41:09
Thank you for that
Jennifer Boutin
01:42:21
Any final questions?
Nancy Callahan
01:44:47
can you have MDOL on next time
Sandra Alvarez
01:44:50
thank you
Allan Lang
01:44:59
Thanks to Anne, Peter and Jennifer. All great information!
Judi Boehm
01:44:59
Thanks again for this Q/A
Sarah Szwajkos
01:45:01
where do we find Anne & Jen’s emails?
Heather Douglass
01:45:02
thank you!
Brad Currie
01:45:02
All of you at SBDC do a wonderful job thank you
Sarah Szwajkos
01:45:07
thank you!