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I spent today understanding the Paycheck Protection Plan (PPP) portion of Friday's stimulus bill (CARES Act). I wrote a FAQ for startups and small businesses not bad enough to need or qualify for SBA disaster loan but hurting. Corrections welcome!https://girdley.com/paycheck-protection-plan-ppp-faq-for-small-business-owners-and-startups/ …
Shared it with my Amazon buddies (I'm in a big facebook group for Amazon sellers). We have plenty of reserve capital (well over 1 year of payroll). In your opinion, having read the law, would you recommend that we not apply for this grant?pic.twitter.com/OGuTt9YBEC
It’s very broad and nebulous. I think that’s ok though. I don’t know your business well but scenario out potential impacts of the crises that could put you out of business. Is that a chance? I think the govt is saying here that they want that to be a zero chance.
If people stopped buying toys or if Amazon suspended us from their platform, two very remote but possible situations, we would probably wind down the toy operation. I've promised my employees they're keeping their jobs no matter what (I have another business that could use them)
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