COVID 19 - BUSINESS THREAD INFO/DISCUSSION

[SpringVelocity]

I talked to them also it has to be a plan, and they will follow up apparently. Same with the website grant.

 

[dradons]

Just an FYI, if you have a seasonal business you don't need to have the 70% revenue drop in March/April it could be in other months.

Most lodge operators/guides would likely be eligible if they were shutdown in May/June for example.

 

[Rain City]

Just an FYI, if you have a seasonal business you don't need to have the 70% revenue drop in March/April it could be in other months.

Most lodge operators/guides would likely be eligible if they were shutdown in May/June for example.

I'm still confused. Is this month to month like the wage benefit? Or overall? They ask for annual reports.

I'm at par for 2020 gross but down like 40% net. I really don't understand how any of this makes sense to ask for gross revenue.

 

[Confused]

I'm still confused. Is this month to month like the wage benefit? Or overall? They ask for annual reports.

I'm at par for 2020 gross but down like 40% net. I really don't understand how any of this makes sense to ask for gross revenue.

I initially sent them my annual but they then asked for a month by month breakdown. As I understand it they have changed it to an annual difference. But who knows....they have changed things so often to try and avoid the criticism not sure they even know what they are doing.
I would apply and see what happens if anyone thinks they are even close to qualifing. It is free to try. And they are having trouble even giving it away.

 

[dradons]

I'm still confused. Is this month to month like the wage benefit? Or overall? They ask for annual reports.

I'm at par for 2020 gross but down like 40% net. I really don't understand how any of this makes sense to ask for gross revenue.

Well net income is way easier to manipulate. I get why they use gross revenue as it is a metric that generally is more in line with potential downturn due to covid.

For example, you could just pay yourself or your guys more and drive down net income.

 

[Rain City]

Well net income is way easier to manipulate. I get why they use gross revenue as it is a metric that generally is more in line with potential downturn due to covid.

For example, you could just pay yourself or your guys more and drive down net income.

Yeah I guess I've only looked at it from my businesses standpoint. There's months where I can bill for hundreds of thousands in direct reimbursements but that has nothing to do with what the company is making.

 

[dradons]

Yeah I guess I've only looked at it from my businesses standpoint. There's months where I can bill for hundreds of thousands in direct reimbursements but that has nothing to do with what the company is making.

Depending on how you structure your agreements, there could be an argument that you are just an agent in the transaction and that your reimbursement billings are not revenue(just flow through) and your true revenue is just your fee.

Sadly, I think a lot of these you may need to reach out to your advisors to assist with rather than doing solely on your own. Lots of subtleties on definitions. I have a feeling people likely have missed out on different funding by assuming they were not eligible.

 

[SpringVelocity]

I'm still confused. Is this month to month like the wage benefit? Or overall? They ask for annual reports.

I'm at par for 2020 gross but down like 40% net. I really don't understand how any of this makes sense to ask for gross revenue.

No it isn't wage benefit. You wouldn't get it I think.... It's gross. Doesn't matter what your net does. I am going to apply anyway thinking more about it last night on my end even if we are close at that percentage drop. See what happens.

Same website one of $7500. The website one is going interesting. I don't see how businesses with existing websites can't get it as well to improve theirs. Seems a bit strange on the criteria.