My world: Everyone at the software companies are working remotely. The chocolate factory shut down yesterday due to not be considered an essential business. The chocolate elve had already left due to health concerns. I handle all the commercial rentals myself so no impact:
I don't intend to lay-off anybody...if this stretches into June or July...then we may look at cutting salaries by 25 to 50%. With the $1,200 everyone is getting already from the gov, and the 4 month unemployment (+$600/week additional), if we have to do layoffs, then the Team will not be totally without funds.
Originally Posted by dlphg9:
This whole thing has really screwed up my livelyhood. Work as a general contractor and usually I get calls from people about wanting their roof looked at from a storm. Well we haven't had a storm recently, so to drum up new business I would have to go door to door and people aren't too appreciative of salesman coming to their door when they can't even have family over. So if we don't have a hail storm sometime soon itll be really shitty.
I’ll send some good karma your way, brother. [Reply]
Originally Posted by dlphg9:
This whole thing has really screwed up my livelyhood. Work as a general contractor and usually I get calls from people about wanting their roof looked at from a storm. Well we haven't had a storm recently, so to drum up new business I would have to go door to door and people aren't too appreciative of salesman coming to their door when they can't even have family over. So if we don't have a hail storm sometime soon itll be really shitty.
Originally Posted by dlphg9:
This whole thing has really screwed up my livelyhood. Work as a general contractor and usually I get calls from people about wanting their roof looked at from a storm. Well we haven't had a storm recently, so to drum up new business I would have to go door to door and people aren't too appreciative of salesman coming to their door when they can't even have family over. So if we don't have a hail storm sometime soon itll be really shitty.
Hang in There!
Post on Facebook!! I see people asking all the time for contractors.
If you were close to Two Rivers, I have roof and siding work that needs to be done. [Reply]
Good luck man - seems like getting the right bank involved in this will be huge and if anyone is seeing stumbles early in this process, that's probably a huge red flag as to how things will go on the back side when things get REALLY iffy.
Because if a bank is struggling to get money out of the treasury right now, when the tap is wide open, they're gonna REALLY struggle to get it forgiven later.
Make really really sure you're confident in how your lender is handling all this because the only thing worse than not getting it will be having to pay all of it off in 2 years as being floated around. [Reply]
On March 29, 2020, following the passage of the CARES Act, the SBA provided small business owners and non-profits impacted by COVID-19 with the opportunity to obtain up to a $10,000 Advance on their Economic Injury Disaster Loan (EIDL). The Advance is available as part of the full EIDL application and will be transferred into the account you provide shortly after your application is submitted. To ensure that the greatest number of applicants can receive assistance during this challenging time, the amount of your Advance will be determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The Advance will provide $1,000 per employee up to a maximum of $10,000.
You may be eligible for another loan program, the Paycheck Protection Program, which is available through participating lenders. Below is a comparison of the two loan programs:
Paycheck Protection Program Full EIDL Loan
PURPOSE
Forgivable if used for payroll (minimum of 75% of the funds received) and the remaining for certain operating expenses (amount of any EIDL advance is not forgivable)
To meet financial obligations and operating expenses that could have been met had the disaster not occurred (amount of any EIDL advance is forgiven)
Information on available resources may be found at www.sba.gov/coronavirus. For more information on these services, please go to www.sba.gov/local-assistance to locate the email address and phone number for the nearest SBA district office and/or SBA's resource partners. [Reply]
