Rishi - I believe you would have to repay it before applying for the loan - which would create the risk of not being approved.
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CEO Multifunding LLC and author of The Growth Dilemma
ami kassar
Ami Kassar, author of The Growth Dilemma, has dedicated the last two decades of his career to ensuring that business owners and entrepreneurs get the best possible financing to grow their businesses. Kassar knows all too well the impact of poor financing choices.
In his work as a public speaker and as Founder and CEO of MultiFunding, LLC, Kassar has helped thousands of business owners and entrepreneurs structure their debt to optimize growth and in turn helped to create tens of thousands of jobs.
"Properly structured balance sheets with correct debt instruments help companies scale up."
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PPP loan approvalIf you got approval, it is likely you will get the those funds.
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debt reliefYou should continue to reach out to your banker but this process should be automatic. If they missed a month, I think they will catch it up.
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SBA PPP LoansIn some communities, we are starting to see some lenders accept appications - if the customer is ready to move their checking account to them.
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EIDL Follow upI do not believe there is any way to do this -- other then calling and waiting on hold.
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sba loans under 350KTechnically not. You have to go off of your 2019 payroll information.
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NEW SBA LOANSI have not heard of anyone receiving their $10,000 yet - has anybody ?
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PPPNo that is not an eligible use of funds for the PPP
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SBA Disaster LoansWe believe they will consider this payroll but are awaiting direction
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PPPUnclear, but if the intent is keeping workers paid I do not believe they would make changes you are referring to
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SBA Disaster LoansThe original intent of this program was not for that purpose. But rather to retain and keep workers employed.. plus assist with other operating expenses
there is no loan forgivess of the EIDL (except for the first $10K).
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NEW SBA LOANSPlease log onto one of the daily webinars to evaluate for yourself.
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NEW SBA LOANSAwaiting clarification on what constitutes a relationship. If the contractor is just on his / her own - probably but if they have their own business, unlikely.
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NEW SBA LOANSRent and utilities not included in the 2.5 times calculation. They are part of forgiveness, but not for the borrowed amount
We are waiting on direction if applicants need to reapply or their existing application will be processed under the new system