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Apr 3, 2020
10:22
:35
am
Mtbcoug
Redshirt Freshman
Companies can’t use IC numbers. IC’s must apply themselves.
Which doesn’t make a lot of sense. Are the ICs supposed to pay themselves for work they do for another company?
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Mtbcoug
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Mtbcoug
Joined
Jul 21, 2017
Last login
Jul 1, 2024
Total posts
739 (0 FO)
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Messages
Author
Time
This PPP Loan thing is a colossal mess. Nobody knows the real rules or what's going on. Banks are scrambling.
RdF3
All-American
4/3/20 9:12am
The banks that are scrambling are the little guys. They feverishly rushed out to businesses everywhere and took
Pimpin4Paradise
4/3/20 9:19am
Chase is having a really hard time digesting it all because of the changes.
chitownboy
4/3/20 9:25am
This isn't the banks fault, but I see so much conflicting information for the rules. The two most pertinent:
RdF3
4/3/20 9:27am
EIDL and PPP can both be applied for, but cannot be used to pay for the same
BYUCLA
4/3/20 9:34am
Also, EIDL appears to be very delayed and I wouldn’t expect those funds soon.
BYUCLA
4/3/20 9:35am
I was told three weeks by two different SBA reps @ 800-659-2955. 10 min. wait.
grandpacoug
4/3/20 10:26am
Companies can’t use IC numbers. IC’s must apply themselves.
Mtbcoug
4/3/20 10:22am
There's a lot of companies using IC numbers per their bank/CPA's guidance.
RdF3
4/3/20 10:25am
That may be guidance people are giving, but if you read the CARES Act
Mtbcoug
4/3/20 10:50am
Just had this discussion with my relationship banker and CPA firm, No IC's in
g$
4/3/20 11:15am
It's not just the little guys. Lots of the Big boys aren't ready either.
RockyBalboa
4/3/20 9:35am
Doesn't help they changed the form at 1:00 this morning.
Chester Copperpot
4/3/20 9:19am
They shouldn’t have been giving out applications before it was ready.
Superman21
4/3/20 9:22am
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