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A few notes from this Small Business Loan Zoom session.
As they say, thread.
Participants include @BridgetGainer, Robert Steiner from US Small Business Administration, a number of Chicago aldermen, Congressman Quigley, etc.
#twill
As they say, thread.
Participants include @BridgetGainer, Robert Steiner from US Small Business Administration, a number of Chicago aldermen, Congressman Quigley, etc.
#twill
Discussion now from @SBAgov Bob Steiner about the Economic Injury Disaster Loan program.
Goal--Provide working capital for small biz going forward (rent, biz mortgage, payroll)
"It's a keep your business in business loan" says Steiner.
Goal--Provide working capital for small biz going forward (rent, biz mortgage, payroll)
"It's a keep your business in business loan" says Steiner.
Steiner: "It applies to a broad range of profits and non-profits.....it's a direct loan from @SBAgov, as opposed to from a commercial bank."
Gainer: "I think it's also important....when you look at your expenses, it can include 1099 workers as well. "
Gainer: "I think it's also important....when you look at your expenses, it can include 1099 workers as well. "
Bob Steiner continues to note that the loan application should take ~30-45 minutes....."it's a program that is designed to be fairly seamless"
Steiner continues: "We have the paycheck protection program..another working loan capital program.designed to keep employees on staff."
Steiner continues: "We have the paycheck protection program..another working loan capital program.designed to keep employees on staff."
@BridgetGainer notes that the 40 questions regarding SBA matters have already been submitted in advance of today's Zoom session.
Bob Steiner notes that "we are incorporating technology to speed the process" and that disbursement of funds can be go out within 5 days.
Bob Steiner notes that "we are incorporating technology to speed the process" and that disbursement of funds can be go out within 5 days.
@RepMikeQuigley has joined this Zoom session to provide additional perspective.
The audio is a bit unclear at this point.
Ah, I hear it now: "This is....and a must be...inaudible...a public health crisis....the big issue is money for healthcare and transit...inaudible"
The audio is a bit unclear at this point.
Ah, I hear it now: "This is....and a must be...inaudible...a public health crisis....the big issue is money for healthcare and transit...inaudible"
Now to questions submitted for this SBA Zoom session.
First question: "Where are the grants?"
Bob Steiner describes the payroll protection program and its availability.
Details available on the @SBAgov site: https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
First question: "Where are the grants?"
Bob Steiner describes the payroll protection program and its availability.
Details available on the @SBAgov site: https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
Previously in this session, @BridgetGainer offered a review of IL, Cook County and City of Chicago assistance programs for small biz.
Here's the link to the @chicago's Small Business Resiliency Fund. https://www.connect2capital.com/partners/chicago-small-business-resiliency-fund/
Here's the link to the @chicago's Small Business Resiliency Fund. https://www.connect2capital.com/partners/chicago-small-business-resiliency-fund/
A participant in this SBA Zoom session asked a definitional question about the size of small biz's.
Here's a helpful chart from @SBAgov: https://www.sba.gov/document/support--table-size-standards
Here's a helpful chart from @SBAgov: https://www.sba.gov/document/support--table-size-standards
@BridgetGainer asks SBA's Steiner if there's any relief for commercial property owners if their tenants cannot pay.
In essence, the reply is yes there will be.
@BridgetGainer notes that there will be a list of responses submitted to those who signed up for this Zoom session.
In essence, the reply is yes there will be.
@BridgetGainer notes that there will be a list of responses submitted to those who signed up for this Zoom session.
