Grants, Loans, and other relief efforts..... Pay Attention to them and don't bypass any options that will benefit you.

Mike

Well-Known Member
Let me preface this with the fact that I have no desire to take government handouts.

In this case, you need to know what is available to you, and act on it if it will benefit you.

If you are a company driver, and end up sidelined, make sure and take advantage of the unemployment.

Owner Operators, you have that unemployment option as well, but don't lean on it if you don't have to. Use it when it comes to the point where you can no longer operate out here. On top of that, explore the loan options if it becomes necessary. Don't assume you simply can't get the loan. Those of us in business for ourselves are, for the most part, a very proud group. We would work ourselves to death before taking a dime from anyone. Continue with that mentality, but if the time comes, know what options are out there, and utilize them to keep your business alive, and keep your family fed and under a roof.

I don't know the options at this point well enough to lay them out here, but those that do are welcome to post up some solid information.
 
From what I read the other day, low interest, 3.75%, loans for 10-15 years up to $25,000 with minimal paperwork. Up to $2 million could be had with more documentation.
 
Small Business Administration



/Funding Programs/Loans/Paycheck Protection Program
Paycheck Protection Program (PPP)
An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
Content
Program Overview
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
The Paycheck Protection Program will be available through June 30, 2020.
Who Can Apply
This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.
Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.
Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible.
How to Apply
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.
Lenders may begin processing loan applications as soon as April 3, 2020.
Loan Details and Forgiveness
The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
This loan has a maturity of 2 years and an interest rate of .5%.
If you wish to begin preparing your application, you can download a sample form to see the information that will be requested from you.
Other Assistance
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are currently eligible to apply for disaster assistance.
Enhanced Debt Relief is also available in SBA’s other business loan programs to help small businesses overcome the challenges created by this health crisis.
For information on additional Lending options, please click here.
SBA provides local assistance via 68 district offices and a nationwide network of resource partners. To find resources near you, please click here.
 
I’m not big on government hand outs either, but we all will be paying it back and someone is going to get the money. So I say get what you can. If nothing else apply and see what you qualify for. Like I said you WILL be paying it back either way.
 
Paycheck program wasn't listed when I looked the other day.

So this stuff is changing daily.
 
I’m not big on government hand outs either, but we all will be paying it back and someone is going to get the money. So I say get what you can. If nothing else apply and see what you qualify for. Like I said you WILL be paying it back either way.
Yes, and if rates hit the tank, it will be nice to have that cash sitting there to get you through it.
 
Paycheck program wasn't listed when I looked the other day.

So this stuff is changing daily.
figured out what the max benefits for Ohio will be
Ohio pays out a max of 435.00 a week
then add the additional 600.00 per week the feds are kicking in
that comes up to1035.00 A WEEK, is 53820.00 a year
kick in the 1200.00 the feds are also giving out so now we are up to 55020,00 a year.
a lot people will milk that for as long as possible and hook and crook the system as much as they can add medicaid, food stamps, housing and these people are easily at 75000.00 a year,

my wife makes 20.00 an hour X 40 X 52 equals 41600.00 a year we pay taxes, insurance , pay food and a host of other things that are given to people sitting on their asses

my daughter is a nurse she makes more than my wife but not as muck as you would think and risks he life every time she goes to work
both are essential businesses my daughter on top of everything else is quarantining herself in a small trailer, can only see her children from a distance for the forseeable future.

in my town right now there are hundreds of jobs going begging even when these jobs pay 15 bucks an hour
and these lazy asses refuses to work for such a pittance!!!

there is someting REALLY wrong with this picture
 
in my town right now there are hundreds of jobs going begging even when these jobs pay 15 bucks an hour
and these lazy asses refuses to work for such a pittance!!!
Everything is supposed to be shut down. Shouldn't be anyone hiring in your town right now except for essential services.
 
Everything is supposed to be shut down. Shouldn't be anyone hiring in your town right now except for essential services.
Gas stations are essential.

Fast food is essential.

Grocery store is essential.


Yet they'd rather sit at home and bitch about no one being available to work at those places
 
Gas stations are essential.

Fast food is essential.

Grocery store is essential.


Yet they'd rather sit at home and ***** about no one being available to work at those places
In case you haven't noticed, we've got a full-scale National Emergency in progress. I really doubt that the staff at your local doctors, dentists, attorneys, manufacturing plants, etc that are shuttered are really looking forward to stepping up to a fulfilling career as a cash register jockey, as much as they're hoping to keep food on the table and not being evicted or foreclosed out of their homes. The animus that you and those of your ilk show towards hard working Americans in a time of national crisis who would otherwise be hard at work and, no doubt, feel shame at having to accept assistance to provide for their families during this crisis disgusts me.
 
Everything is supposed to be shut down. Shouldn't be anyone hiring in your town right now except for essential services.
grocery stores, are hiring on the spot, glass plants, labeling plants take out restaurants, fuel stations packing plants, just to name a few, there are many industries and businesses that are considered essential services and ALL of these companies around here are hiring and the jobs are going unfulfilled

and we have two classes of prickss that feel they are entitled the people and business that thru their manipulation and lies have taken the bulk of the money thru bullshit paying their attorneys and paying politicians off to create laws to squeak thru and rip off the average Americans.

and then there is the entitled lower class which is in reality is the new middle class, the real suckers in all of this is the people that actually work for a living and allow this to happen
 

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