Coronavirus - effects on business

[GraphicDisorder]

supposed to be 1000 per employee. let us know.
Shane

Sent from my SM-G975U using Tapatalk

EIDL has 2 parts, 1k per employee is forgivable advancement. The EIDL Loan beyond that is as Biverson described above.

[mk162]

Yes, we just got funded today on the EIDL and the advance.  It was nice no doubt.  Still waiting on the PPP funds, but those should drop any day now.

[rusty]

I got the PPP loan about 2 weeks ago through my bank. And just got told we are eligible for the EIDL. which I must have filled out about 2 months ago.

We are pretty busy due to online store sales and switching to small batch fulfillment, and other stuff is starting to trickle in. I was able to hire a guy back and a new guy.

This whole shakeup has really made me step back and adjust my business for the better.

[cbjamel]

graphic disorder isn't the loan the pay check protection program?
Shane

Sent from my SM-G975U using Tapatalk

[GraphicDisorder]

graphic disorder isn't the loan the pay check protection program?
Shane

Sent from my SM-G975U using Tapatalk

Nope. EIDL and PPP are not the same thing.

EIDL is a 30 year 3.5% loan. Also a up to 10k forgivable loan (1k per employee) as an advancement.

PPP is a 2 year loan forgivable if you use it for payroll. 

They are 2 different programs.

[blue moon]

graphic disorder isn't the loan the pay check protection program?
Shane

Sent from my SM-G975U using Tapatalk

Nope. EIDL and PPP are not the same thing.

EIDL is a 30 year 3.5% loan. Also a up to 10k forgivable loan (1k per employee) as an advancement.

PPP is a 2 year loan forgivable if you use it for payroll. 

They are 2 different programs.

just to muddify things a little more, the EIDL forgivable part will actually decrease your PPP grant.
So if you received an EIDL advance ($1K per employee), your PPP grant will be that much lower.

pierre

[GraphicDisorder]

graphic disorder isn't the loan the pay check protection program?
Shane

Sent from my SM-G975U using Tapatalk

Nope. EIDL and PPP are not the same thing.

EIDL is a 30 year 3.5% loan. Also a up to 10k forgivable loan (1k per employee) as an advancement.

PPP is a 2 year loan forgivable if you use it for payroll. 

They are 2 different programs.

just to muddify things a little more, the EIDL forgivable part will actually decrease your PPP grant.
So if you received an EIDL advance ($1K per employee), your PPP grant will be that much lower.

pierre

Correct and as far as I can tell that is as close as they come to relating at all.

[cbjamel]

Yes government cluster.
Shane

Sent from my SM-G975U using Tapatalk

[im_mcguire]

We are not sure if we will make it here.
Its been now 6 weeks since our shops last big order.  Face masks are keeping presses moving, but I think I can see an end for our shop.

Its my Uncles printing Company, and screen printing is a small portion. If it does go under it may just be the kick in the ass to finally set up my own studio for design and print.

I hope it doesn't obviously, but the offset side is almost at a stand still for 4 weeks now, and screen printing can't sustain the entire building.

I hope the rest of you guys get through this ok!

[mk162]

We are not sure if we will make it here.
Its been now 6 weeks since our shops last big order.  Face masks are keeping presses moving, but I think I can see an end for our shop.

Its my Uncles printing Company, and screen printing is a small portion. If it does go under it may just be the kick in the ass to finally set up my own studio for design and print.

I hope it doesn't obviously, but the offset side is almost at a stand still for 4 weeks now, and screen printing can't sustain the entire building.

I hope the rest of you guys get through this ok!

Very sorry to hear this...good luck.

[blue moon]

We are not sure if we will make it here.
Its been now 6 weeks since our shops last big order.  Face masks are keeping presses moving, but I think I can see an end for our shop.

Its my Uncles printing Company, and screen printing is a small portion. If it does go under it may just be the kick in the ass to finally set up my own studio for design and print.

I hope it doesn't obviously, but the offset side is almost at a stand still for 4 weeks now, and screen printing can't sustain the entire building.

I hope the rest of you guys get through this ok!

hang in there! good luck!

[mk162]

We are not sure if we will make it here.
Its been now 6 weeks since our shops last big order.  Face masks are keeping presses moving, but I think I can see an end for our shop.

Its my Uncles printing Company, and screen printing is a small portion. If it does go under it may just be the kick in the ass to finally set up my own studio for design and print.

I hope it doesn't obviously, but the offset side is almost at a stand still for 4 weeks now, and screen printing can't sustain the entire building.

I hope the rest of you guys get through this ok!

hang in there! good luck!

Maybe it's time to cast off the non-profitable side, sub out the offset side and refocus.  No sense in killing an entire company when there is something to salvage.  I've known plenty of people to do the same.

Look at places like Aldi, they aren't trying to be a walmart super center.  Focus on what you are good at, with as few people as needed.  Downsize.  It's probably your only option.  It's better that some lose their jobs than everyone.

[jvieira]

It's been a couple months since the last reply. How is everyone doing? Are things back to normal on your end?

After a perfect June with only 5% decrease in sales (up from 80% drop in May), we are now looking at 60/70% drop again.

[GraphicDisorder]

3rd best May and 3rd best June for us on record. Pacing to be a record or close to record July. March was way off, April we were basically closed but I did take some orders late in the month to prepare to open in May.

Day to day it is all over the place, up and down.

[Doug S]

We are all over the place here.  It sure isn't going to be a record year for us unless we are going for a record low.  We are however making enough to pay our bills and staying afloat so I'm grateful for that.