UPDATE 05-05-2020 PAGE 14::::::::SBA APPROVAL:::::::IF YOU OWN A BIZ OR ARE SELF EMPLOYED!!!!

I can tell you a little about unemployment in NC from a close friend, but this person had a "regular" job, not self-employed.

There is a notice at the top of the NC page saying it will take about 14 days to get your first payout. Our friend applied on 3/26 and got the first payment today (13 days), but it did not include the federal $600 extra, only the paltry state amount.

And his info page when he logs in to his account says he's qualified for 12 weeks, which is our state's minimum, nothing about the extended weeks or the federal "up to 39 weeks" stuff.

I had checked the NC site myself on the 26th when he was asking for help with applying. The little notice at the top of the page specifically mentioned the 14 days wait AND said that they did not not know how or when the federal $600 would be dispersed. I checked the site again this morning to get you the exact quote, but that part is not mentioned now.

I clicked through the site and found this: "The Division of Employment Security is awaiting guidance from the U.S. Department of Labor to implement these programs. Once we receive final guidance, benefits should start being paid in about two weeks. DES is already working on the technology and system updates to implement these programs. We will provide the public with more details about eligibility and how to apply for these benefits as it becomes available."

As for self-employed (again, this is from the NC site, yours may differ), I saw this:

"Once we receive final guidance, benefits should start being paid in about two weeks. DES is already working on the technology and system updates to implement these programs. We will provide the public with more details about eligibility and how to apply for these benefits as it becomes available.

Independent contractors and self-employed workers may file for unemployment insurance assistance at any time. However, until system updates are completed, no eligibility determinations will be made for the federal programs. Being found ineligible for state unemployment insurance does not make you ineligible for federal assistance."

So basically... sounds like the states still know nothing.

Giant cluster.

Last Edited by Renaissance Woman on 04/08/2020 05:38 AM

Got this from my banker this morning regarding PPP.

"They SBA is hoping to have some more guidance today. They have changed their minds a number of times in the last few days how about next steps (loan closing and funding). I will keep you posted."



Ugh...

Just talked to a friend in Texas who owns a small business. He is not looking for SBA loans/grants because his business is still functioning so far, but he said his business owner friends are complaining that they've been advised to expect a month before hearing/receiving anything about either of these two SBA programs.

I know, it's friend-of-a-friend info, but I thought I'd share. For what it's worth.

Not gonna lie... listening to the President raving about how successful and fast the CARES Act has been is disheartening.

Yep, not so good...

I am still supporting, but....



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i occasionally feed the birds outside my office

have bags bird food - nuts - seeds - some suet

it brought mice - i have been frequently catching mice in mousetraps

they never have really figured out why i am giving them free cheese

Yeah so if we do take these loans and grants the real question is are we the birds or the mice?

Thanks for all that info RW! I saw today Wells Fargo had another link for PPP info and as I read that it now seems you have to have at least one employee on payroll to qualify, so I’m out. On Pa unemployment they told us do not file under the regular unemployment site they’d let us know when etc.

Yes, I agree, this does not reflect well on him. I think I can probably scrap through, no idea where the money is going to come from to pay the taxes in July as I’ve been using that to float my business.

I’ll be stuck on some stupid payment plan which I hate and have worked hard to avoid since I’m in business. It seems ultimately there is little to no help for us. I should say there’s people in way more dire circumstances than me and my heart goes out to them.

There’s a cumulative effect issue here. Many people will use savings to cover current expenses. But they’ll run out in a month or two. At that point you won’t have had any income for two months and the savings have been exhausted and that’s when it’s going to really hit the fan.

Last Edited by Isis One on 04/09/2020 02:44 AM

Here’s a perfect example.

Hi there, I am being told as long as you wrote yourself regular checks, you qualify. I have not received ANYTHING YET, so we'll see whats what soon enough.

This is really not going the way Mnuchin said it would, very disappointing so far to say the least..



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Wow, very sad! This person needs to contact another bank. The banks determine the loan amount and type. Something isn't right here.

Not making excuses for the SBA, they have fucked this thing sideways, but I do see differing results based on who your banker is and how much they know the very complicated systems.

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Last Edited by President Elect WyatteSmith on 04/09/2020 10:42 AM

*************UPDATE 4_9_2020

UPDATE #1

SBA will be launching a portal to check status of EIDL program. Once the system is live, applicants will receive an email with instructions on creating account and checking status of application.

This SHOULD go live Saturday Evening.

UPDATE #2

SBA is no longer taking calls in the USA for applicants, they are outsourcing this to India. The USA reps will be taking calls ONLY from banks trying to assist with PPP. This should create a relief needed badly for SBA staff. The phone number remains the same 800-659-2955.



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Thanks for this update!

I hadn't received any updates by email and was thinking of calling in to check status. I guess I'll wait til the weekend and see if portal comes into existence.

Happy to help, BTW, your AV always makes me crack up.!



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many are afraid that when/if business returns that their old employees leave and collect unemployment- that they will be gone either another employer or whatever

that’s why they are going for this loan - to keep the employees that are good

if you want the “loan” forgiven then you must spend it on payroll you had before

so yes - i would say if one is receiving a paycheck - then they are excluded from unemployment ins

since they are giving away unemployment like water and has even been enhanced with an extra $600 week from fed - in many cases it might be better to shut down and everyone collect unemployment than to keep open artificially via a loan

yep & since the fed gov is adding to the amount the state pays out in unemployment- business will be soon paying not only their state in unemployment tax but to the fed gov too when unemployment payroll tax rates come due for reassessment beginning next year

it’s not going to be easy however way you look at it

He just did it again, a couple minutes ago. Blew the reporter off, who -- to my surprise, lol -- was correct. Frustration, confusion, and no money.

UPDATE:

I went ahead and phoned the 800 number to check status of my EIDL in advance of the portal that is going live Saturday.

- I got right through and spoke to an SBA rep with a decidedly American accent :-)

- Her system was unable to look up status of my online application :-/

- She was super pleasant and assured me that I should give it up to three weeks to hear back from them via email or phone

Hopefully, the portal Wyatt alluded to previously will do a good job of showing progress of application in their pipeline... like Domino's letting me track my pizza order.

Thanks for the new info Op!

Thanks for your update, Wineguy. Wow, three weeks?

MA UI finally announced yesterday Cares Act is up and running to apply April 30th!? Checks will be retro from Feb 2nd

Kuvasz, what does MA UI mean?

UI means Unemployment Insurance, I assume. I just checked the NC DES site (Department of Employment Security), and they have updated the red alert box at the top of the screen:

"Alert -- DES has received official guidance on how to implement the three unemployment programs of the federal CARES Act. We are working as quickly possible to modify our systems to begin payments. Click here for updates."

When I clicked on it, there is a lot of info, but this is probably what people want to see regarding the extra $600 from the federal: "We are currently testing our system for this program and anticipate making the first payments by April 17, 2020."

As for "retro" that KuvaszLove mentions... February 2, really? When did MA first go into shut down mode? Did you mean to say April 2?

The NC site says it is retro back to the week ending April 4, based on when the bill was passed. Meaning... if you were eligible for unemployment that week, you will get the $600 for that week plus any weeks since. So there may be some folks after April 17 finally getting their $1200 to catch up from those first two weeks when the system wasn't up and running yet.



(Edited for clarity.)

Last Edited by Renaissance Woman on 04/10/2020 11:25 AM

And to add to the fun... I got a jury summons in the mail today for June 22.

Good grief.

I just checked the Massachusetts page: "The $600 will be added to all eligible weeks of benefits retroactive to March 29, 2020 and continuing until July 31, 2020."

I don't know what you mean by Feb 2nd.




(To clarify, the NC site says "the week ending April 4", which is the same as saying "retroactive to March 29" like the MA site says.)

I didn’t check the Pa. UI updates yet today. No email yet re the EIDL loan/grant. Bank guy called and left message re PPP that he didn’t have guidance yet, that was Thursday.