Magiklaw

My wife had 150 shares of this in her 401k from her old job. Entire 401k was worth around 150k this morning. Her FA called her several times (which was unusual) in a bit of a panic saying that one of her stocks was up and he wanted permission to sell. She said ok and he sold all 150 shares at $535 a share. She made $54k today. Totally crazy as things like this never happen to us.

I opened an act with Marcus early last year and it was 2.5%. Had dropped every single quarter since amd is now 1.05%.

Rules appear to be pretty favorable. Most of the questions we had about how period for payroll would be calculated and whether expenses would be based on paid or incurred were all decided in favor of forgiveness.

SBA better stay out of trying to go back and turn this into something it was not. Congress made it very easy to get this loan as you just have to certify your business was effected. I don’t think SBA can come back now and start making up criteria for this. Who are they to say who was effected and who was not. If SBA just looked looked at my operating account, it would look like I did not need a PPP loan as I had plenty of $$ to make payroll. However, that is only because I haven’t paid all of last years taxes yet and loaned my business 50k. Also I am an attorney and generally just wait until the end of the year to bill several insurance companies that I do work for but I had to go ahead and bill them now to keep revenue coming in while things are slow. So while my revenue may not look down compared to last year, I i will take a big hit later in the year. Just too many variables for SBA to start coming back now and trying to check to see who was “effected” and who was not in their judgement.

Checked this morning and funding showing in my available balance!

Praying for all the rest who did not make it through on the first round. It looks like it is pretty much a foregone conclusion that it will be approved by House. With HW increasing their submission capacity, hopefully they will get all of the customers who they preapproved and have waiting in queu through now. I do know they are currently telling customers who did not submit on first round that they are no longer taking applications. While they are taking a little heat for this, I think it is only fair that they concentrate their efforts on making sure their customers who submitted with the first round get their applications funded.

Thanks for the info Shawnlsu. I esigned the same day as you but around 10 that morning. Just checked and still no funds so hopefully get them later today or tomorrow. I guess technically even if recieve them Friday, payroll run that same day, albeit before the PPP funds were recieved, would probably still count as I doubt they are going to look beyond the date recieved.

Any HW customers received their PPP funding yet?

I received approval at the very last minute (late Wed night) and e-signed the papers they sent me on Thursday (4/16). We are supposed to run payroll tomorrow. I was hoping to get funds by today to make sure this payroll is included. I am thinking about delaying payroll until Friday, but don't want to delay longer than two days for my employees.

Banker is saying any day now but that also telling me that is just his best guess.