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What small business issues or questions do you want to hear addressed on the debate stage tonight?
*This is an open discussion for questions and comments leading up to tonight's debate to specifically discuss small business issues. Once the debate starts, continue the conversation by letting us know what you think of any small business issues or recovery proposals that may be discussed in real-time.
For those interested in watching the debate online, you can view it on PBS by clicking this link here.
Disclaimer: Please note that Small Business Majority is a 501(c)(3) organization. For election purposes, this means Small Business Majority does NOT directly or indirectly participate in, or intervene in, any political campaign on behalf of (or in opposition to) any candidate for elective public office.
Question:
During tonight's presidential debate, many of the issues discussed will likely focus on COVID-19 and the U.S. economy as a whole. With small businesses playing an enormous role in both of those topics, what issues or questions do you want to hear addressed on the stage tonight?

Scam emails from the "SBA"
I had a small business owner forward an email from "SBA" stating "I’m a Special Agent with the U.S. Small Business Administration, Office of Inspector General. We investigate crimes against SBA programs. I understand that your information may have been shared with a company out of Utah without your permission. Please contact me at the number below to further discuss."
Please be careful as this is scam for the following reasons:
1) It wasn't the correct SBA logo
2) They won't be providing their cell number for you to call back
3) I could not find their name anywhere on the internet
If you come across this in the near future, please file these scams so that other small business owners don't fall into this trap:
https://www.sba.gov/about-sba/oversight-advocacy/office-inspector-general/office-inspector-general-hotline
Unfortunately, this is a prime example of people taking advantage of our small business owners at a time where they are desperate for information and help. Please reach out to us if you have uncertainty about someone reaching out and asking for your information.

Re: PPP Forgiveness
Hi @Beatriz_m23
You can stay up to date at the SBA site: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp#section-header-4
We also are updating information at https://venturize.org/resources/covid-19-resources
I would say that if you use 75% of the loan proceeds on payroll (which is essentially 8 weeks of your full payroll) and 25% other approved costs (eg, rent) that you should be have the full amount forgiven even if you scaled back/down slightly. But, you're right to want to stay on top of the actual rules, since these are important financial decisions to make.

Sole Proprietor: Unemployment or PPP?
I'm a sole proprietor and have no employees or subcontractors. My most recent contract with a client terminated on Feb. 19. I have been looking for new clients, but it's very unlikely I'll find anything. I registered for unemployment on 3/19/20, declaring I was applying due to Coronavirus, and on 3/30/20 I received a response email from the EDD that I don't qualify for any benefits because I'm self-employed, but they still provided me with the obligation to report my work search. Then on 3/31/20 the CARES act came out. Now it seems like I may qualify for PPP, but I've been told during the webinar that I would not be able to register for both. So, first, which one would offer me better benefits? And, second, if PPP offers better benefits, what steps do I take to close my registration as unemployed and then register for PPP? I don't want to start my PPP application late, but also don't want to weave a tangled administrative mess that could delay provision of benefits.

Re: What expenses are considered "forgiveable"?
@jawhite62
Hello, forgivable payroll expenses include your healthcare premiums as well as state and local payroll taxes (but not federal). Nonpayroll expenses are: 1) mortgage interest, 2) rent and 3) utilities.
I do not believe the computer program would be covered under either.

Re: PPP Loan and a 401K retirement contribution for payroll forgiveness
@elizlizard I don't have clear guidance for you on this, unfortunately. If I were you, I would make similar contributions to payroll as I did in 2019. If you try to do more (and pay less actual salaries, for instance, or pay in advance), that could possibly raise red flags during the forgiveness process. Without clear guidance from SBA on that forgiveness process, though, it is hard to say.

Re: PPP for self-employed application - 4/10/2019
@bradrjohnson2307 We are awaiting more guidance from SBA rules for self-employed PPP loans, (ie how you calculate the max amount and forgiveness) but our understanding is that they will be forgivable loans. Details on the PPP is here: https://venturize.org/resources/payroll-protection-program
Any amount that is not forgiven converts to a 1%, 2 year loan with 6 month deferrment

Re: Have you checked out Venturize.org? We want to hear from you.
Since I'm just getting on this site, I can't say I've heard of anything that's being offered out here. I'll have to see what venturize.org is about then. I could use some help on credit score improvement and preparing loan packages.

Take Advantage of Overlooked Business Deductions – Read These 10 Suggestions
For the inaugural Community Digest and Discussion, we have chosen an article that highlights 10 suggestions that small business owners should be aware of when filing their taxes. Please take a look at the article and let us know your thoughts. Do you have any other useful tax tips for your fellow small business owners? Let us know!
Take Advantage of Overlooked Business Deductions – Read These 10 Suggestions
Small Business Trends
March 29, 2019
Business owners know that most of their expenses are deductible. But it might surprise you to learn how many leave money on the table by not claiming all allowable write-offs.

Re: Rewards based campaigns
We also published a success story from one of our members on how she successfully used crowdfunding - you can check it here: https://venturize.org/blog/finding-crowdfunding-success-support-community
