Paycheck Protection Program Application

J-man

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Staff member
For those who have a qualifying small business here is the application form. It’s a fairly simple form to complete if you have good accounting records. As of last night there was reportedly 803 participating banks, mainly smaller community banks. The larger banks are expected to be ready to begin accepting applications by early next week. I had heard you could submit to any bank but I’m finding out you have to be a current account holder of the bank at which you apply, at least that’s what two different banks told me. I’ve also heard funds are available on a first-come-first-serve basis so if you plan to apply then time is of the essence. Contact your bank if you need more information.
 

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lotstodo

aka "The Jackal"
I hope that those who can use it get the checks in time. There was a report by the SBA a while back that 40 percent of small businesses don't have the cash to cover 60 days of expenses.

Anecdotally, there are dozens of local businesses in Ellijay that rely on tourism for their profits. They manage to hang on during the off season on full timers and weekenders, but from December through March, times are pretty lean. This couldn't have come at a worse time for them. Just when they should be finally getting a little business, they are forced to close or hang on doing take out. Several have given up their leases and closed their doors in the last month. Their owners have taken other jobs and said they "hope to be back". Nobody is helping them.
 

Guard Dad

Administrator
Staff member
I hope that those who can use it get the checks in time. There was a report by the SBA a while back that 40 percent of small businesses don't have the cash to cover 60 days of expenses.

Anecdotally, there are dozens of local businesses in Ellijay that rely on tourism for their profits. They manage to hang on during the off season on full timers and weekenders, but from December through March, times are pretty lean. This couldn't have come at a worse time for them. Just when they should be finally getting a little business, they are forced to close or hang on doing take out. Several have given up their leases and closed their doors in the last month. Their owners have taken other jobs and said they "hope to be back". Nobody is helping them.
I have no doubt that's true, and frankly, my business is one of them because of some stuff we went through a little over a year ago.

The good news for us is, we're not totally shut down; we're still in business as an essential service, but the repair side is slower than normal and we expect some of our customers to play slow.

We also have strength in that most of our customer base are big companies and/or chains, so their pockets are deep. One of our largest accounts on the install side is a subsidiary of Panasonic, as an example.

Nevertheless, it will be tough. I have paid my personnel for full 40 hours the last two weeks. How much business we get and whether or not we get the PPP (and how long it takes) will determine how long I can do that.
 

lotstodo

aka "The Jackal"
I have no doubt that's true, and frankly, my business is one of them because of some stuff we went through a little over a year ago.

The good news for us is, we're not totally shut down; we're still in business as an essential service, but the repair side is slower than normal and we expect some of our customers to play slow.

We also have strength in that most of our customer base are big companies and/or chains, so their pockets are deep. One of our largest accounts on the install side is a subsidiary of Panasonic, as an example.

Nevertheless, it will be tough. I have paid my personnel for full 40 hours the last two weeks. How much business we get and whether or not we get the PPP (and how long it takes) will determine how long I can do that.
I'm hearing that from a lot of friends. The trade show exhibit and large scale architecture industries have been slow-ish since 2008. There are less than half the players in that space than before the recession, and they have been running lean. Two that I have been associated with in the past have closed their doors, probably for good. I suddenly have a lot more retired friends. 5 people I know over 60 have packed their boxes in the last 3 weeks and headed to the house for good.
 

Guard Dad

Administrator
Staff member
Suntrust finally got their website up to apply, I got the email tonight. Just got done submitting it.

Website is clunky and confusing. A lot of people won't be able to figure it out. Gave me fits for awhile, and I'm fairly computer literate.

Now I wait.
 

J-man

This post will self-destruct in 5, 4, 3, 2, 1....
Staff member
Suntrust finally got their website up to apply, I got the email tonight. Just got done submitting it.

Website is clunky and confusing. A lot of people won't be able to figure it out. Gave me fits for awhile, and I'm fairly computer literate.

Now I wait.
I got my Suntrust / Truist notification around 9:30 tonight and just finished submitting ours too. My biggest issue was uploading the supporting documents, some of ours exceeded the 5mb limit but I figured a way around it.

Now we wait too.
 
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