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Coffee Shop
Small business loan.
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<blockquote data-quote="callmefence" data-source="post: 1681293" data-attributes="member: 24947"><p>Once you give SBA your employer id # they don't need anything else. I've gotten a SBA loan to stockpile materials at the start of this mess. Not PPP, I have to pay it back, although a very low interest loan.</p><p> They can tell how many w-4, and 1099 you have out. Although 1099 isn't counted for PPP. </p><p>PPP is figured of cost payroll. A sole proprietor with no employees it's figured off the salary you pay yourself. So if you pay yourself 100000.00 but you put in you pay yourself 500000.00 ...you better of filed and payed income tax on that extra 400000.00 last year. Cause a few strokes of the keyboard and your busted. And since you most likely have assets, it won't be like someone living in a apartment lying about unemployment or welfare. They gonna come a knocking... eventually</p></blockquote><p></p>
[QUOTE="callmefence, post: 1681293, member: 24947"] Once you give SBA your employer id # they don't need anything else. I've gotten a SBA loan to stockpile materials at the start of this mess. Not PPP, I have to pay it back, although a very low interest loan. They can tell how many w-4, and 1099 you have out. Although 1099 isn't counted for PPP. PPP is figured of cost payroll. A sole proprietor with no employees it's figured off the salary you pay yourself. So if you pay yourself 100000.00 but you put in you pay yourself 500000.00 ...you better of filed and payed income tax on that extra 400000.00 last year. Cause a few strokes of the keyboard and your busted. And since you most likely have assets, it won't be like someone living in a apartment lying about unemployment or welfare. They gonna come a knocking... eventually [/QUOTE]
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