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Search Forums: Posts Made By: shawndoggy
Forum: Non-Wakeboarding Discussion 12-22-2020, 9:47 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Get ready for round 2.

Get ready for round 2.
Forum: Non-Wakeboarding Discussion 12-05-2020, 4:13 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
we completely geeked out on our application and...

we completely geeked out on our application and spent a bunch of time with the rules to make sure we got our numbers right for full forgiveness. Our bank came back and edited our app with completely...
Forum: Non-Wakeboarding Discussion 06-17-2020, 1:28 PM
Replies: 66
Views: 23,492
Posted By shawndoggy
New forgiveness apps are out. Eight weeks or 24,...

New forgiveness apps are out. Eight weeks or 24, you pick. But if you pick 24 then you are subject to the wage, hour and headcount requirements till October at least (depending when you got your loan)
Forum: Non-Wakeboarding Discussion 06-05-2020, 5:39 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Agree. At the end of the day, it's still a...

Agree. At the end of the day, it's still a windfall.
Forum: Non-Wakeboarding Discussion 06-04-2020, 4:59 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Your bank isn't using the SBA's form?

Your bank isn't using the SBA's form?
Forum: Non-Wakeboarding Discussion 06-04-2020, 4:58 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Senate passed the house extension bill that...

Senate passed the house extension bill that Buffalow referenced above. Now on the President's desk for sig. Changes percentages from 75/25 to 60/40 and extends time period to 24 weeks. Also...
Forum: Non-Wakeboarding Discussion 06-02-2020, 12:59 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
We are in week 8 too (thursday being our last...

We are in week 8 too (thursday being our last day). The new employee-owner rules really threw our projected spending burn for a loop, given that it now excludes health insurance and retirement...
Forum: Non-Wakeboarding Discussion 06-01-2020, 4:22 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
anybody else having trouble working through the...

anybody else having trouble working through the PPP employee-owner rules?
Forum: Non-Wakeboarding Discussion 05-27-2020, 6:55 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Have you guys started working through the SBA's...

Have you guys started working through the SBA's forgiveness application?
Forum: Non-Wakeboarding Discussion 05-20-2020, 2:50 PM
Replies: 66
Views: 23,492
Posted By shawndoggy
Did you get an EIDL loan too? I think you might...

Did you get an EIDL loan too? I think you might be confusing PPP and EIDL. PPP specifically does not require a personal guarantee. Your EIDL would require a personal guarantee if you borrowed more...
Forum: Non-Wakeboarding Discussion 05-20-2020, 2:41 PM
Replies: 66
Views: 23,492
Posted By shawndoggy
Secured? Eeek. PPP was no guaranty unsecured...

Secured? Eeek. PPP was no guaranty unsecured loan. If you pledged collateral your bank gotcha.

Have you seen the SBA's forgiveness application that was released last Friday? Much more guidance...
Forum: Non-Wakeboarding Discussion 05-20-2020, 5:04 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Other than investing the time to figure out the...

Other than investing the time to figure out the forgiveness rules, what did you have to give to get the loan?
Forum: Non-Wakeboarding Discussion 05-20-2020, 12:53 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Totally NOT socialism when the government gives a...

Totally NOT socialism when the government gives a business 10 weeks of payroll for nothing. :rolleyes:
Forum: Non-Wakeboarding Discussion 05-08-2020, 12:37 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Limit on forgiveness is $15,385 per employee...

Limit on forgiveness is $15,385 per employee during the 8 weeks after the loan funds. From what I have read, you can pay someone more during that time, but only the $15,385 per head is eligible for...
Forum: Non-Wakeboarding Discussion 04-21-2020, 1:29 PM
Replies: 66
Views: 23,492
Posted By shawndoggy
I'm wrong, Buffalow. I think your lawyers may be...

I'm wrong, Buffalow. I think your lawyers may be right about how to game the 75% spend. I was looking at the original draft of the CARES Act, not the Act as signed into law. The actual act does...
Forum: Non-Wakeboarding Discussion 04-17-2020, 3:21 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
That approach could totally screw you, I think. ...

That approach could totally screw you, I think. Forgiveness is measured against two standards, as I read it. There's an "average number of employees" standard in addition to the 75% on payroll costs...
Forum: Non-Wakeboarding Discussion 04-16-2020, 5:34 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Glad to hear! Seems like those who got on the...

Glad to hear! Seems like those who got on the ball early with this are sure glad they did.
Forum: Non-Wakeboarding Discussion 04-13-2020, 6:35 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
We are trying to do the same with a segregated...

We are trying to do the same with a segregated account.
Forum: Non-Wakeboarding Discussion 04-10-2020, 11:44 AM
Replies: 66
Views: 23,492
Posted By shawndoggy
Do you have a cite for the "10 weeks" thing? If...

Do you have a cite for the "10 weeks" thing? If you look at the SBA's interim final rule, they say that the measuring period is 8 weeks not 10.

The actual amount of loan forgiveness will depend,...
Showing results 1 to 19 of 19

 

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