Local attorney stopped by, asked if I've applied. From what he said I almost have?ÿto do it. Looked into it and WOW, never gave it a thought before today.?ÿ
I applied through my local bank. I was able to secure $125K to keep all my employees at full wages till the end of June, which will really help since it is starting to slow down here in Hawaii.?ÿ
Seeing oil drop to $-40/barrel was a s$%it just hit the fan moment for me. Made my mind up.?ÿ
I applied a couple of weeks ago but before my bank finished with the process the program ran out of money.?ÿ I keep getting emails from them saying they are keeping my place in line for any new funds, which look like just came through.
The hole thing has made me reconsider my banking, the only people I know that actually got funds used smaller banks.?ÿ I'm not saying my bank was playing favorites but I think they were over loaded?ÿ by the applications.
I do business with two banks, I went with the small community bank after reading some of the same comments about the larger ones.
Yeah, I'm going to start shifting some of my business banking to one of the small community banks. The big one, US Bank, has been great for most everything but this. At least it does not appear that they were favoring their bigger clients. I did not get my application in until three days after they started taking them because they were only excepting them from sole owner businesses I need to get clarification with respect to my wife's ownership.
Our company applied and after jumping through all the hoops, we are in line for the next round of funding.
I got it all in after the $$ ran out. Hoping for the next round. I'm getting a little work, but...
Hopefully it will be back to something like normal quickly, I can say that I looked at tickets to Kona in August, $390, $960 first class!!!
Doubtful that those will last long, we need to be there then so whatever it costs.
When I was there in March I sat down with a local on the big Island that had purchased a set of old maps, they were boxed up and ready to be destroyed so he paid for them. I didn't get to look at many, but the ones I did see were old property maps of the north part of the big Island showing a railroad around the north end and parcels that were long and narrow going from the cliffs to the mountain. A company from Oahu made them, they even showed control points and property corners scattered around the parcels that were found. The ones I looked at were 1920's vintage and must have been done with a large triangulation survey.
@john-putnam What's this about sole owner businesses? What would the PPP do for a solo surveyor?
Our firm was quick to apply, dealt with our local small town bank and had success in securing the money.?ÿ Lets all of us breath a brief sigh of relief that we are in a better position to weather the storm.
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Suggestion to everyone, look into the PPP, if you decide to move forward, work with a small, local bank.?ÿ They will provide you with personal service, and you are supporting a small business (m/l).?ÿ Keep in mind the bank receives funding for each PPP they process.
Got my deposit on Monday, amazingly enough from a relatively big bank.?ÿ
@true-corner as long as you start as one employee and remain with at least one employee for 8 weeks after receiving the funds, this program is for you.
I'm curious how the funds are used..?ÿ Are you paying employees who are NOT working a full 40 hours??ÿ Or is it funds for later use??ÿ?ÿ
I think you can use it however you like, but if you use 75% of it to keep you employees off unemployment, for 2 months, then it becomes a grant and not a loan.
A bank with headquarters less than 20 miles from me but with branches in about 20 other locations put an ad in the paper bragging how they had processed $17 million of such loans.
It will be simple for me, the funds can go to payroll and rent. Not saying for that is for everyone. I don't really know all the details of how they can be used, but for me it will only be payroll and rent.
Once they are used up, you can apply to have the loan forgiven.
This would be great if the work load was still there. The phones have died since this all started.