I was told by SBA I could apply for both loans. My CPA said is better to apply

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Apr 3, 2020
10:06:42am

grandpacoug Starter

For the paycheck protection program first. Any CPAs want to agree or disagree with that strategy and why?
Thanks.

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grandpacoug

Previous username: venomous viper
Bio page: grandpacoug
Joined: Sep 6, 2002
Last login: Apr 27, 2024
Total posts: 6,912 (25 FO)

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Messages

Author

Time

Important info if you're an SBA applying for the Payroll Protection Loan

RockyBalboa

4/3/20 7:38am

🤔 You mean the government is over promising, under performing? You don’t say!

brazilcoug

4/3/20 7:42am

My bank sent e-mail last night at 11 PM saying their portal would not be working

grandpacoug

4/3/20 9:10am

Yeah. No shock. This whole 10K in my account in 3 days? Today is when that's

The Old Y

4/3/20 7:51am

Over a million applications were submitted and it is just the SBA handling that

BYUCLA

4/3/20 8:40am

The 10K Grant is part of the Disaster Loan, not the PPP. Different loan.

RockyBalboa

4/3/20 9:33am

I understand. I'm simply pointing out that none of this is going to happen

The Old Y

4/3/20 9:55am

I was told by SBA I could apply for both loans. My CPA said is better to apply

grandpacoug

4/3/20 10:06am

Only apply for the EIDL if you need it. There isn't really a free $10,000 if

BYUCLA

4/3/20 10:11am

I applied about 10 minutes after it opened. We will see. PPP Loan doesn't work

The Old Y

4/3/20 10:18am

Yeah we are going to take a gamble and wait until we are closer to opening

BYUCLA

4/3/20 10:48am

Thanks. I wasn't as concerned about a $10,000 grant. I own large Apt. buildings

grandpacoug

4/3/20 10:20am

This is my issue too: Length. Do I need an EIDL loan tomorrow? Well, tell me

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