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Discussion Starter #1
Anyone have an idea how we are going to be able to apply and what the limits are? I have about 1-2 weeks of work left before I have to lay off employees. I'm actually extending jobs to keep my guys working.

At first they were talking about paying 2 weeks salary and some over head if we keep employees on payroll and that loan to be forgiven and then the SBL for us.

Because shit is drying up now that the past work load has been built. Few jobs still trickling in, but not what I had forecasted. I have customers pushing off work until this dies down, Some holding off on buying and leads are dead right now. I'm no Delta air lines or Walmart but this is going to hurt real soon and I know most are already feeling the heat. We luckily have had a 3 week back log ( showing how well the market was for even March) and this shit hasn't even hit my area yet. I might be looking at a 200+K loan if this goes a few months just to scrape by. Meaning parking trucks, stopping insurance and the likes.....
 

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Anyone have an idea how we are going to be able to apply and what the limits are? I have about 1-2 weeks of work left before I have to lay off employees. I'm actually extending jobs to keep my guys working.

At first they were talking about paying 2 weeks salary and some over head if we keep employees on payroll and that loan to be forgiven and then the SBL for us.

Because shit is drying up now that the past work load has been built. Few jobs still trickling in, but not what I had forecasted. I have customers pushing off work until this dies down, Some holding off on buying and leads are dead right now. I'm no Delta air lines or Walmart but this is going to hurt real soon and I know most are already feeling the heat. We luckily have had a 3 week back log ( showing how well the market was for even March) and this shit hasn't even hit my area yet. I might be looking at a 200+K loan if this goes a few months just to scrape by. Meaning parking trucks, stopping insurance and the likes.....
No one knows yet. However, if you keep your employees until this is over, you will not have to repay the loan.

It's going to be an expedited SBA loan, but I've read no more than that.

I have been thinking of hiring my wife, at a million a year.......
 

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I would like to know how this is going to go also because we have been put on production quotas until the end of the month and after that who knows. I have to keep my employees because there are not many people getting into the logging industry and if I lose them I may as well just shut the doors not to mention we have about 5 million dollars of equipment that cannot just sit without Revenue coming in to pay for it.
 

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I would like to know how this is going to go also because we have been put on production quotas until the end of the month and after that who knows. I have to keep my employees because there are not many people getting into the logging industry and if I lose them I may as well just shut the doors not to mention we have about 5 million dollars of equipment that cannot just sit without Revenue coming in to pay for it.
whose timberlands?
 

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Hopefully it wont be necessary,
But things could start getting Sketchy in Few weeks.. my guys dont want to stay home. But I need Busy streets to generate work...
 

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Discussion Starter #8
No one knows yet. However, if you keep your employees until this is over, you will not have to repay the loan.

It's going to be an expedited SBA loan, but I've read no more than that.

I have been thinking of hiring my wife, at a million a year.......
You know there are going to be people doing things like that.. LOL
 

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KEVIN CAPS LOCK
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NO ONE KNOWS WHAT THE FUTURE BRINGS IN TIMES LIKE THESE...IF YOUR PEOPLE/GOVERNMENT ARE REACHING OUT TRYING TO GIVE YOU HELP....WE BETTER LISTEN....KEEP THIS THREAD UPDATED....ALL SMALL BUSINESS NEEDS TO JUMP ON THIS IMHO....
 

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Discussion Starter #19
"Small Business" = 50 to 500 employees.
I just read the link you posted on page 15 it has the below verbiage. This goes all the way down to an individual, independent contractor with 1 employee it looks like. I don't have 50 employees so that scared me I have half that. SO basically if you run a legit tax based company you can qualify. In a way... To be an asshole.. This is great because I compete with under the table companies all the time that won't get any help over this.

DOCUMENTATION

.—An eligible self-employed individual, independent contractor, or sole proprietorship seeking a covered loan shall submit such documentation as is necessary to establish such individual as eligible, including payroll tax filings reported to the Internal Revenue Service, Forms 1099–MISC, and income and expenses from the sole proprietorship, as determined by the Administrator and the Secretary.
 

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Where did you hear that if you keep your employees employed you don't have to pay it back?

I am not firing any employees. however we are still working. If the work dries up they will be gone.

I think it is bullshit for me to keep my employees employed if there is no work and then I have to accept the burden of a loan repayment plan and my business has to suffer for years repaying this loan.
 
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