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That is a great feeling eh? We did not qualify for the second one. You had to have a 25% decrease in at least on quarter last year and we did not.

I heard from my bank that the PPP loan is completely forgiven. Whoo Hoo!! Good news first, okay news next. The 10,000$ advance has to be given back. What has been explained to me is that you can not have both. I am a little confused because the 10,000.00 was presented as a given, it would not...

Sean, I am fairly certain the loan can be forgiven is finished at this point. It was only available for a short time.

Willie, it is so easy, you are not going to believe it. I spoke with my banker yesterday and she said they reviewed it and submitted it to the SBA. So, mine is in the works.

We turned in our forgiveness paperwork to the bank on July 27th. Very easy paperwork to fill out, like only one page. I think early on I read that banks have 2 months to process it? I am now in the waiting stage, wondering what notification I will receive letting me know it is forgiven. I have...

Update on the PPP loan; We did end up taking it, I have to admit, I was skeptical. We are coming up on what was the 8 week period that you could spend and accumulate your "forgivable' amount. The bank emails me and low and behold, the feds changed the rules, again. Now you have 24 weeks to...

So, I got the advance, but did not apply for the edil loan and yet got the same email you got, saying the are working on the loan. NO, I did not apply for that loan. I am not spending a dime of any of this “advance” that supposedly do not have to pay back. It can just sit in the account till...

Yeah, that is what we are leaning towards, just trying to read the fine print.

I got the approval and the loan docs yesterday. Still not sure if we are going to take the money. The rules for forgiveness are strict and I think I may have asked for too much money. You have to use 75% for payroll and the calculation I used, based on how they said to do it (average for a...

Did you see the "advance" for $10,000.00 that will also be forgiven? That is done on line and very easy, just have your P&L statement on hand.

SBA is going to be the best source of information on the assistance available. The situation is so fluid, they are working out the details. Now, it may be your bank that will be the originator. It is hard to keep up.

This is an interesting loan. Under some circumstances, the loan can be forgiven. I encourage you to research the details yourself and see if it is a good fit for your business. The loan is called: COVID-19 Economic Injury Disaster Loan You apply on line with the SBA, not through a bank. The...