Worst case - the first is forgiven and the second is not. Then add that you stretched things out so that in the spirit of the program, the two coverage periods didn't overlap. If they ask, tell them that the processor encouraged you to apply for the second without telling you about the ramifications. By law, a loan is not income." Not sure how that plays out if forgiven, but ironclad if not forgiven.Īs for overlapping periods, the best thing I can think of is to make sure the end date of the second PPP is at least 11 (12 to be safe) weeks past the end of the coverage period for the first PPP loan. Moonlighting is the act of working a second job outside of a full-time job.
Womply ppp fastlane login how to#
"This was a loan and therefore not income. What is moonlighting How to start, tips, and job ideas.I had to do my best interpretation of what to do, without assistance." Likely get you out of any penalties, maybe interest, but not the original UI payment. Further, EDD never issued any official advice on the matter that I could find. "I tried repeatedly to contact EDD about this, but you never responded.IF it were to happen, here are the defenses. Honestly, it's not likely, but it could happen. PPP loans offer up to 41,666 in disaster relief, and they are 100 forgivable. In 5 minutes, PPP Fast Lane will help you prepare your applications and connect you with an SBA-approved lender. We are a technology company offering a web platform designed to assist. PPP Fast Lane helps 1099's, sole proprietors, and self-employed people access the Paycheck Protection Program (PPP). They could even be nasty about it and impost fraud penalties! Womply is not a PPP lender, and is not in the business of providing legal or tax advice. womply sign in, ppp loan womply, womply support, ppp fast lane womply. However, if you received any UI/PUA for a week and that was one of your PPP distribution weeks TO YOURSELF, and California later decided that your PPP distribution was actual income, then they could come back and demand that UI/PUA payment back. Start your PPP application here and well route you to an approved lender. If you distributed funds to yourself on a week that you were disqualified and didn't receive any UI/PUA (too many hours or too much earnings, excluding PPP), then they can't do squat! Call SBA instead and ask them, if needed.)įor the payroll proceeds TO YOURSELF, here's my prediction on how it would go. (Don't ask me how the endpoint weeks are figured - whether the weeks start on the day you got the funds, or calendar weeks - and how they relate to those two end date. Now, remember, ONLY YOU can choose which weeks you distribute the PPP - not the SBA, and especially not EDD - as long as they are between the day the funds were deposited in your bank account and 24 weeks later. Also, you have to show how any of it was spent for "acceptable expenses under PPP".
Womply ppp fastlane login password#
Specifically, you have to decide/designate/record which weeks you chose to distribute PPP proceeds to yourself. Go to your dashboard ( On the Left hand side, click where it says Settings Under Settings, click the tab marked User Profile Navigate to the section marked Change Password, enter in the current password for the account, the new password you wish to change it to, and reconfirm the new password. If EDD, or state Legislature gets a hair up their backside and decides that it should be treated as income for sole props and tries to recover it, possibly retroactively, then it will depend on how you reported it. It's totally up to the EDD in CA (and the individual state UI agency in each individual state) how they will treat PPP. Click to expand.Well, he finally said what I've been saying all along. If you suspect fraud with your application or you think your personal personal information may have been compromised, please report the incident directly to the SBA complaint portal. If you don’t sign these documents, your loan will never be funded. If your application has already been received by your lender or the SBA, then you can decline to sign the agreements that we will send you. If you haven’t received your loan yet and want to cancel : Depending on the status of your application you may still be able to cancel your application by logging in. Neither Womply nor your lender can provide you advice on this subject. We strongly encourage you to do this if you are uncertain about whether you should have received a PPP loan. If you’ve already received your PPP loan : You can repay your lender at any time. We will seek to address potential fraud in a manner that minimizes the negative impacts to legitimate borrowers using our platform. We know the vast majority of PPP borrowers are deserving, eligible businesses.
0 kommentar(er)
