NRV Runner
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- Feb 7, 2019
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There are major provisions in this for small businesses. Other than the $1,200 stipends, how do you see this legislation affecting you?
Did you fill out all three forms?Yes, I applied this afternoon at https://disasterloan.sba.gov/ela/ for a $60,000 loan to cover my huge monthly mortgage payment, utilities, insurance, etc. for the next few months. The first $10,000 is a grant. Doesn't have to be repaid. The balance is a 30-year loan at, I think, 3.75% interest.
The webinar I watched said 90% are being approved, and even if you don't get approved, you get the $10,000 grant. But there's "only" $10 billion set aside for this, and it's first come, first served.
The application sounds like it's for a flood or tornado or something, but one of the categories it pays for is "Economic Injury". That's the one we are suffering..
IF you laid-off your employees, bring them back. ANY employees on the payroll as of Feb 15 will have their wage costs covered for you in this for 8 weeks. One of our Senators just spent an hour answering questions on our Statewide radio special edition program. She was on yesterday for 30 minutes and came back today after researching the questions people sent to the radio guy yesterday. There were some questions asked this morning that she is going back to check those.Yes, I applied this afternoon at https://disasterloan.sba.gov/ela/ for a $60,000 loan to cover my huge monthly mortgage payment, utilities, insurance, etc. for the next few months. The first $10,000 is a grant. Doesn't have to be repaid. The balance is a 30-year loan at, I think, 3.75% interest.
The webinar I watched said 90% are being approved, and even if you don't get approved, you get the $10,000 grant. But there's "only" $10 billion set aside for this, and it's first come, first served.
The application sounds like it's for a flood or tornado or something, but one of the categories it pays for is "Economic Injury". That's the one we are suffering..
Feeling stupid here but where do you put in the amount you want? Gomez has been at this for 4 hours and he’s still not close to being done!Yes, I applied this afternoon at https://disasterloan.sba.gov/ela/ for a $60,000 loan to cover my huge monthly mortgage payment, utilities, insurance, etc. for the next few months. The first $10,000 is a grant. Doesn't have to be repaid. The balance is a 30-year loan at, I think, 3.75% interest.
The webinar I watched said 90% are being approved, and even if you don't get approved, you get the $10,000 grant. But there's "only" $10 billion set aside for this, and it's first come, first served.
The application sounds like it's for a flood or tornado or something, but one of the categories it pays for is "Economic Injury". That's the one we are suffering..
Did you fill out all three forms?Yes, I applied this afternoon at https://disasterloan.sba.gov/ela/ for a $60,000 loan to cover my huge monthly mortgage payment, utilities, insurance, etc. for the next few months. The first $10,000 is a grant. Doesn't have to be repaid. The balance is a 30-year loan at, I think, 3.75% interest.
The webinar I watched said 90% are being approved, and even if you don't get approved, you get the $10,000 grant. But there's "only" $10 billion set aside for this, and it's first come, first served.
The application sounds like it's for a flood or tornado or something, but one of the categories it pays for is "Economic Injury". That's the one we are suffering..
Not sure what to put under "amount estimated loss" as none of the categories seem to fit.
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The Form 5 said "Sole proprietors use Form 5C" so 5C is the only one I filled out. It was 3 pages. It's hard to know what to put where because it's really designed more for physical damage, like storm damage, than for financial loss. But I gave it a shot and we'll see. I'm hoping they will contact me with requests for more info or corrections if needed. At this point, "hoping" is all I can do!NRV Runner said:Did you fill out all three forms?
Feeling stupid here but where do you put in the amount you want? Gomez has been at this for 4 hours and he’s still not close to being done!Yes, I applied this afternoon at https://disasterloan.sba.gov/ela/ for a $60,000 loan to cover my huge monthly mortgage payment, utilities, insurance, etc. for the next few months. The first $10,000 is a grant. Doesn't have to be repaid. The balance is a 30-year loan at, I think, 3.75% interest.
The webinar I watched said 90% are being approved, and even if you don't get approved, you get the $10,000 grant. But there's "only" $10 billion set aside for this, and it's first come, first served.
The application sounds like it's for a flood or tornado or something, but one of the categories it pays for is "Economic Injury". That's the one we are suffering..
.
I put it in the long text box near the end labeled Additional Comments. I gave a full description of the business, it's name, how much money I was requesting, and what the money will go for.Morticia said:Feeling stupid here but where do you put in the amount you want? Gomez has been at this for 4 hours and he’s still not close to being done!
Did you fill out all three forms?Yes, I applied this afternoon at https://disasterloan.sba.gov/ela/ for a $60,000 loan to cover my huge monthly mortgage payment, utilities, insurance, etc. for the next few months. The first $10,000 is a grant. Doesn't have to be repaid. The balance is a 30-year loan at, I think, 3.75% interest.
The webinar I watched said 90% are being approved, and even if you don't get approved, you get the $10,000 grant. But there's "only" $10 billion set aside for this, and it's first come, first served.
The application sounds like it's for a flood or tornado or something, but one of the categories it pays for is "Economic Injury". That's the one we are suffering..
Not sure what to put under "amount estimated loss" as none of the categories seem to fit.
.The Form 5 said "Sole proprietors use Form 5C" so 5C is the only one I filled out. It was 3 pages. It's hard to know what to put where because it's really designed more for physical damage, like storm damage, than for financial loss. But I gave it a shot and we'll see. I'm hoping they will contact me with requests for more info or corrections if needed. At this point, "hoping" is all I can do!NRV Runner said:Did you fill out all three forms?
.
The LLC form is a bit different. Gomez thinks he’ll be submitting upwards of 60 pages of documentation.Arks said:The Form 5 said "Sole proprietors use Form 5C" so 5C is the only one I filled out. It was 3 pages. It's hard to know what to put where because it's really designed more for physical damage, like storm damage, than for financial loss. But I gave it a shot and we'll see. I'm hoping they will contact me with requests for more info or corrections if needed. At this point, "hoping" is all I can do!NRV Runner said:Did you fill out all three forms?
Did you fill out all three forms?Yes, I applied this afternoon at https://disasterloan.sba.gov/ela/ for a $60,000 loan to cover my huge monthly mortgage payment, utilities, insurance, etc. for the next few months. The first $10,000 is a grant. Doesn't have to be repaid. The balance is a 30-year loan at, I think, 3.75% interest.
The webinar I watched said 90% are being approved, and even if you don't get approved, you get the $10,000 grant. But there's "only" $10 billion set aside for this, and it's first come, first served.
The application sounds like it's for a flood or tornado or something, but one of the categories it pays for is "Economic Injury". That's the one we are suffering..
Not sure what to put under "amount estimated loss" as none of the categories seem to fit.
.The Form 5 said "Sole proprietors use Form 5C" so 5C is the only one I filled out. It was 3 pages. It's hard to know what to put where because it's really designed more for physical damage, like storm damage, than for financial loss. But I gave it a shot and we'll see. I'm hoping they will contact me with requests for more info or corrections if needed. At this point, "hoping" is all I can do!NRV Runner said:Did you fill out all three forms?
.
We are Sole proprietors also, but were you able to get a FEMA Registration number as required on 5C?Arks said:The Form 5 said "Sole proprietors use Form 5C" so 5C is the only one I filled out. It was 3 pages. It's hard to know what to put where because it's really designed more for physical damage, like storm damage, than for financial loss. But I gave it a shot and we'll see. I'm hoping they will contact me with requests for more info or corrections if needed. At this point, "hoping" is all I can do!NRV Runner said:Did you fill out all three forms?
Did you fill out all three forms?Yes, I applied this afternoon at https://disasterloan.sba.gov/ela/ for a $60,000 loan to cover my huge monthly mortgage payment, utilities, insurance, etc. for the next few months. The first $10,000 is a grant. Doesn't have to be repaid. The balance is a 30-year loan at, I think, 3.75% interest.
The webinar I watched said 90% are being approved, and even if you don't get approved, you get the $10,000 grant. But there's "only" $10 billion set aside for this, and it's first come, first served.
The application sounds like it's for a flood or tornado or something, but one of the categories it pays for is "Economic Injury". That's the one we are suffering..
Not sure what to put under "amount estimated loss" as none of the categories seem to fit.
.The Form 5 said "Sole proprietors use Form 5C" so 5C is the only one I filled out. It was 3 pages. It's hard to know what to put where because it's really designed more for physical damage, like storm damage, than for financial loss. But I gave it a shot and we'll see. I'm hoping they will contact me with requests for more info or corrections if needed. At this point, "hoping" is all I can do!NRV Runner said:Did you fill out all three forms?
.We are Sole proprietors also, but were you able to get a FEMA Registration number as required on 5C?Arks said:The Form 5 said "Sole proprietors use Form 5C" so 5C is the only one I filled out. It was 3 pages. It's hard to know what to put where because it's really designed more for physical damage, like storm damage, than for financial loss. But I gave it a shot and we'll see. I'm hoping they will contact me with requests for more info or corrections if needed. At this point, "hoping" is all I can do!NRV Runner said:Did you fill out all three forms?
.
The application says all that section is for Small Business Admin. internal use only. THEY fill in that part.Momma Smurf said:We are Sole proprietors also, but were you able to get a FEMA Registration number as required on 5C?
I work with a local non profit. We will phone local banks on Monday. You might think of emailing in advance since so many are working from home, loan officers likely among them.Sounds like ... wait until next week and talk with local bankers?.
I think we are in the same boat, mortgage is on an adjoining property, not the business, donation towards utilities would be nice, yet with being required to be closed and the time of the year hopefully they will be low, no employees, so just us and the kids to suck it up and get by, if life gets somewhat back to normal in a couple of months, hopefully we will survive.I know there is only so much available so am letting all of you know that I will NOT be applying - leaving mine for those of you who really need it. I will be OK as I am not dealing with a mortgage. I stopped the extra payment on the principal of my loan so I think I can weather this. It is the only way I know to help all of you. (Not dealing with Himself and his meds, supplemental insurance, & diet is a BIG help. Although miss his part of the income.).
Does our state have to be officially declared a disaster area?Yes, I applied this afternoon at https://disasterloan.sba.gov/ela/ for a $60,000 loan to cover my huge monthly mortgage payment, utilities, insurance, etc. for the next few months. The first $10,000 is a grant. Doesn't have to be repaid. The balance is a 30-year loan at, I think, 3.75% interest.
The webinar I watched said 90% are being approved, and even if you don't get approved, you get the $10,000 grant. But there's "only" $10 billion set aside for this, and it's first come, first served.
The application sounds like it's for a flood or tornado or something, but one of the categories it pays for is "Economic Injury". That's the one we are suffering..
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