How stimulus bill will help you ** must read**

[concreter]

We Had a Few jobs on the books Early this Spring...Now I contact my Costumers and There All saying the Same Thing...
Were Going to Wait A While !!!
Plus how many new Calls wont happen Due to this Economy Threat!
Think I Qualify ? 21 yrs as A DBA

 

[Gunsmith]

Soooooo...
Step 1 borrow said money at a great interest rate
Step 2 invest into real estate and get a 15% ROI which is fairly easy
Step 3 Profit?

No loan fees, guarantee fees, or prepayment penalty fees.

Am I missing something here?

Many people tried doing this after hurricane Katrina and got away with it for a while but most ended up under investigation and were fined very heavily. From what I understand the government says it’s fraud because you used it for personal gain rather than rebuilding/enhancing your business or some shit.
The government is tough on fraud unless they are the ones doing it

 

[grizzly978]

Is there anything for those who's pay was significantly effected, but they don't quite qualify for unemployment?

Edit: nvm. I'm fucked

Yes, I work in logistics selling for a LTL Freight carrier and we don't do any kind of food or supermarket deliveries, only industrial products etc, so my commissions went from great to crap in about 6 weeks...….

 

[grizzly978]

We Had a Few jobs on the books Early this Spring...Now I contact my Costumers and There All saying the Same Thing...
Were Going to Wait A While !!!
Plus how many new Calls wont happen Due to this Economy Threat!
Think I Qualify ? 21 yrs as A DBA

Just hang in there brother, you are not alone. The entire country is dealing with this crap, it will resolve and once it does, business will pick back up.

 

[EWRECK]

We Had a Few jobs on the books Early this Spring...Now I contact my Costumers and There All saying the Same Thing...
Were Going to Wait A While !!!
Plus how many new Calls wont happen Due to this Economy Threat!
Think I Qualify ? 21 yrs as A DBA

You should.

 

[buck]

Don’t qualify for the check, and don’t want it anyway. Better off with someone that truly needs.

I certainly applaud that thinking. I am in much the same boat. Don't qualify, don't need it. But I Will take it as I think I could decide better who is deserving of the money being given to then the government can. But I have that anti big brother, Orwellian thing going.

 

[Crazy_jay]

We Had a Few jobs on the books Early this Spring...Now I contact my Costumers and There All saying the Same Thing...
Were Going to Wait A While !!!
Plus how many new Calls wont happen Due to this Economy Threat!

Yep, we've had a few want to postpone but on the brightside, we've still had a few calls come in, small jobs like installing an egress window. I like the bathrooms, kitchens, additions. Luckily, I live in a small college town. College professors are a good part of our business, financially our clients will be fine, its just the idea of them not wanting us in their house.

I was just getting ready to drop $5,000 on irrigation and sod for my yard and I did the same as others, its put on hold right now but was supposed to be getting installed right now. With the $3400 stimulus the govt dropping on my wife and I, probably be getting it done soon enough, just got to make sure we still have a few jobs coming in before I commit.

 

[sazo75]

Many people tried doing this after hurricane Katrina and got away with it for a while but most ended up under investigation and were fined very heavily. From what I understand the government says it’s fraud because you used it for personal gain rather than rebuilding/enhancing your business or some shit.
The government is tough on fraud unless they are the ones doing it

I wonder how that would work if the properties are purchased under the actual business name though, I'm wondering if those people that did that were purchasing items under their own name and not under their actual business name. Technically, if the properties were purchased under a business name, than the business is being enhanced because with the money you generate from it you can keep buying more and more properties, also definitely helps the economy. Real estate agents getting paid, property management getting paid, title companies, insurance companies, loan company, inspectors, etc!

 

[Deleted member 121863]

Many people tried doing this after hurricane Katrina and got away with it for a while but most ended up under investigation and were fined very heavily. From what I understand the government says it’s fraud because you used it for personal gain rather than rebuilding/enhancing your business or some shit.
The government is tough on fraud unless they are the ones doing it

Different time, different loans and rules. If a person got disaster money from Katrina and put on a new deck that never existed before storm, replaced things that were not damaged by the storm, then yes, that could be misappropriation of funds, fraud. That money was to have specific purposes. This is money to dump into your business any way you see fit. RE, payroll, supplies, anything. This is an "economic disaster loan".

 

[Matsuo Munefusa]

Lot of misinformation in this thread, particularly in the original post. Carry on, gentlemen.

 

[Deleted member 121863]

Lot of misinformation in this thread, particularly in the original post. Carry on, gentlemen.

Then please correct.... or carry on and stir the pot some place else.

 

[Deleted member 121863]

Direct copy and paste from govt website about pandemic unemployment benefits. This is for all the self employed that have been displaced and lost income due to covid, ie; Personal trainers. Sorry this is not keeping format, paragraph style. Still very readable. Looks like $600/wk, worth the read

UNEMPLOYMENT INSURANCE EXTENSION UNDER CARES ACT CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY (CARES) ACT President Trump signed into law the provisions of the CARES Act on March 27, 2020. This law makes a number of changes to the availability of unemployment insurance benefits including increasing availability to those who are self-employed or contract workers, those ineligible for state unemployment benefits and those who have exhausted benefits. The CARES Act includes expansion of unemployment insurance benefits as follows: • Expands eligibility to individuals who historically have not been eligible for unemployment benefits such as individuals who are self-employed, contract workers or gig workers under the Pandemic Unemployment Assistance program. • Provides people with an additional $600 per week in Pandemic Unemployment Compensation on top of the unemployment amount already offered by Arizona Unemployment benefits. This includes the newly-eligible individuals outlined above. • The additional Pandemic Unemployment Compensation provided is not considered “income” for purposes of Medicaid and CHIP • Authorizes extended benefits for an additional 13 weeks for individuals who exhaust their unemployment benefits. NOTICE: The CARES Act has been signed into law, and Arizona is awaiting further guidance from the U.S. Department of Labor on when the benefits will be available. Although these additional benefits are not yet available, Arizona is now accepting applications for CARES Act benefits, and those claims will be processed as soon as DES receives additional guidance. We are in the process of making changes to the unemployment insurance program. We will keep you updated through our website, media outlets and social media. Our customer service representatives do not have additional information at this time. If your benefits are affected, we will notify you. For those who were previously eligible and have already applied, please continue to file your weekly claim. For those who are self-employed, independent contractors, nonprofit employees, and gig economy workers, or requesting an extension of benefits and are not currently filing weekly claims, please submit your initial application now. You may file a claim here. If you have already filed a claim, you do not need to take any action at this time. Please continue to check this website daily for updates. Question: Who is eligible for the Pandemic Unemployment Assistance program under the CARES Act? Answer: The CARE Act increases availability of unemployment benefits for individuals who are self-employed, independent contract workers, nonprofit employees, and gig economy workers, those ineligible for state unemployment benefits or have exhausted benefits. All individuals eligible for UI either through the Pandemic Unemployment Assistance program or under existing law would also be eligible for the $600/week in additional benefits. Question: If I am self-employed, do I need to file an application for unemployment? Answer: Yes, you will first need to file a claim online to see if you are eligible for a regular claim. Question: If I am receiving benefits, do I need to file an application for unemployment to receive the additional $600 benefit payment? Answer: No, if you have filed an unemployment application and it is being processed or you have an existing unemployment claim, there is nothing else you need to do to receive the additional benefits. We will begin issuing those payments as they become available. Question: I was receiving unemployment through last week and my benefits have exhausted. I am still within my benefit year and was told I can’t file again until my claim expires. Do I need to file an unemployment application to receive the additional money that was passed in legislation for the CARES Act? Answer: No, you do not need to file a new application. All claimants that exhausted benefits after 02/02/20, whichever is later, will be processed for the extended benefits. When the extended benefits are available, additional information will be posted on our website. Question: How do I know if I qualify for unemployment benefits? Answer: We will notify you after you file an unemployment application. We cannot determine if you qualify until we process your application. Additional Information on other federal legislation: On Saturday, the U.S. Department of Labor issued guidance in the form of a question and answer resource to clarify key requirements in the Families First Coronavirus Response Act around the new paid sick leave mandate and expanded family and medical leave. These new provisions take effect on April 1, 2020 and expire on December 31, 2020. Additional FAQs from the U.S. Department of Labor: https://www.dol.gov/agencies/whd/pandemic/ffcra-questions.

 

[Deleted member 121863]

Direct link, copy and paste to info direct on SBA website. See bold underline! I am not encouraging fraud but pointing brothers towards help if they need it. There are several programs available from SBA due to covid, this is just one.

There is help, the sun came up today and it will tomorrow. Head up and forward to all my business owners and self employed one man shops. This time will separate you from the others. People count on you, this is the time for you to lead. I have applied for this 5 days ago and have not heard back anything yet. I`ll update when possible.

COVID-19 Economic Injury Disaster Loan | U.S. Small Business Administration

www.sba.gov

Economic Injury Disaster Advance Loan
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application. This loan advance will not have to be repaid.
Apply for the Loan Advance here.

COVID-19 Economic Injury Disaster Loan | U.S. Small Business Administration

covid19relief.sba.gov

 

[FrancisK]

Direct link, copy and paste to info direct on SBA website. See bold underline! I am not encouraging fraud but pointing brothers towards help if they need it. There are several programs available from SBA due to covid, this is just one.

There is help, the sun came up today and it will tomorrow. Head up and forward to all my business owners and self employed one man shops. This time will separate you from the others. People count on you, this is the time for you to lead. I have applied for this 5 days ago and have not heard back anything yet. I`ll update when possible.

COVID-19 Economic Injury Disaster Loan | U.S. Small Business Administration

www.sba.gov

Economic Injury Disaster Advance Loan
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application. This loan advance will not have to be repaid.
Apply for the Loan Advance here.

COVID-19 Economic Injury Disaster Loan | U.S. Small Business Administration

covid19relief.sba.gov

Hogan is this the same application that was put up a few days ago or is this something new? The funds available within 3 days would mean some people should have gotten it already if it's the same one....

 

[Deleted member 121863]

Hogan is this the same application that was put up a few days ago or is this something new? The funds available within 3 days would mean some people should have gotten it already if it's the same one....

The app above is the emergency funding, $10k, and does not need to be repaid, according to current SBA website. You must have a real business started before Jan 2020 and be impacted by covid. Not eligible if you make porn, sell pot, or profit from gambling. Funds available "within 3 days FROM APPROVAL". Could be weeks to process, LOL. I did mine 5 days ago and have not seen even an email yet. I don`t wanna get into advising what program is right for anybody, simply trying to open eyes to resources. Any more advice and I need a piece of that $10k

This page was updated recently and shows all current programs from SBA in relation to CARES act. I believe there is also a disaster loan offered.

COVID-19 relief options

Notice: We are unable to accept new applications for COVID-19 relief loans or grants. We continue to offer PPP loan forgiveness.

www.sba.gov