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Payroll Protection Program

Discussion in 'General Industry Questions' started by crane operator, Apr 10, 2020.

  1. CM1995

    CM1995 Administrator

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    Well we're approved locally and in the SBA queue...that's what the banker said today.:oops:
     
    grandpa likes this.
  2. Truck Shop

    Truck Shop Senior Member

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    Aw shucks I guess I'm too late, I was looking for some of that money { Other wise known as Rainbow Stew- Merle Haggard} to finish my Mack.
     
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  3. CM1995

    CM1995 Administrator

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    What is your average monthly payroll for 2019? Then multiply that by 2.5 - that's the first step..;)
     
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  4. Truck Shop

    Truck Shop Senior Member

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    Oh I forgot I can't apply for that I'm just a 47%er. Darn
     
  5. crane operator

    crane operator Senior Member

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    Magic 8 ball says: -- "Truck Shops Mad Mad Mack Restorations incorporated, LLC" is looking at some tough times. I think its going to need some payroll protection, lets see: wax, polish and aluminum labor, time spent taking gloves and masks on and off. Throw in some utilities and some mortgage expenses. Are you paying a shop animal and feeding it? Every little bit helps.

    Hmmm..... throwing it all in the calculator- you should be either getting a check for $1.3 million, or you owe uncle sam $36,000? I don't know- just make up some numbers and get you some of that helping hand.:)
     
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  6. Truck Shop

    Truck Shop Senior Member

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    Thanks for the advise CO, But I'm just helpless and hungry so I don't qualify.
     
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  7. CM1995

    CM1995 Administrator

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    Last time I checked it doesn't matter the ownership percentage of the company;) - just your actual payroll expense's, you know, what you've paid your employees. It's easy - just get your accountant that you already paid last year to generate the IRS docs and send them in. Easy- peasy.
     
  8. RZucker

    RZucker Senior Member

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    You bought me a cup of coffee once, that should help you qualify. :D
     
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  9. Truck Shop

    Truck Shop Senior Member

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    Well lets see, I have two guard cats { Orange Cat and Black Kitty} and a Myna Bird to answer the phone will that work.
     
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  10. AzIron

    AzIron Senior Member

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    Personally I think the repercussions for government meddling in private buissness is going to be horrible doesnt matter the reason
     
  11. grandpa

    grandpa Senior Member

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    I think im a few days ahead of you and suppose to receive funds tomorrow... they'll probably run out of funds on the guy ahead of me.:D
     
    CM1995 likes this.
  12. Vetech63

    Vetech63 Senior Member

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    Well, I've never trusted the government for anything. I feel like everyone taking this or anything else will have spy satellites focused on their doings 24/7. You guys need a plan for when the jack-booted government thugs start showing up at your doors.:D
     
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  13. CM1995

    CM1995 Administrator

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    Friend of mine received funds yesterday, he was approved last Wed. I am not counting on anything this go around..
     
    grandpa likes this.
  14. RTSmith

    RTSmith Senior Member

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    I emailed my banker last night after the news said it would run out today. He replied that I had been approved and he would let me know when to come sign papers. I applied by lunch on the 3rd, first day they were taking apps. We're a decent size customer of a smaller community bank. So unsure what took so long for an answer.
     
  15. crane operator

    crane operator Senior Member

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    My funds have come through, but two contractors I was working with today, both got calls from their banker saying they were too late, funds are gone. They had just filled in their paperwork and turned it in this morning.

    Their banker told them he was planning on more $ being appropriated through congress, so he thought they may get $$ later on.
     
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  16. CM1995

    CM1995 Administrator

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    We have been approved on the second round, signing papers next week.
     
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  17. grandpa

    grandpa Senior Member

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    Well we got 2 1/2 months of payroll payed about a week ago.... hoping you get yours as well.
     
    CM1995 likes this.
  18. CM1995

    CM1995 Administrator

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    If it does fund it will be the first time I've ever received any money from the government other than a refund on taxes they held interest free throughout the year.:cool:
     
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  19. AzIron

    AzIron Senior Member

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    We got ours this week
     
    grandpa likes this.