PPP second round and Govt Grant Money (USA Theaters)

[Armand Daiguillon]

Hi all,

There was some important information I wanted to share with you all.
As you all probably know a second round of PPP loans was included in the new covid relief legislation, in this legislation independent theaters are also eligible for some sizeable grants.
The second round PPP loans are now available to be applied for - DO NOT APPLY.
I was informed by my film buyer (who got the info from NATO) that if you accept second round PPP you will not be eligible for the grant money.
The grant money is of a much higher amount and is a grant, not a loan.

So wait a bit longer, the SBA will release the info for the grants soon - but do not go for the second PPP - it could be a costly mistake.


Take care !

[Armand Daiguillon]

Also ...in preparation to apply for the grants, your corporation must have a DUNS# (Dun and Bradstreet) most corps already have one, and for those who need a # to apply for a govt grant, D&B can issue them within a day. (for government grant purposes only, otherwise it takes longer)

[Martin McCaffery]

The SBA is having a webinar TOMORROW (January 14) at 3:00pm EST on SOS and PPP. It will be recorded for viewing later. To register for TOMORROW's live webinar: https://www.eventbrite.com/e/shuttered-venue-operators-grant-webinar-registration-136050549857

[Martin McCaffery]

Haven't watched it yet, but here's the YouTube:

https://youtu.be/PdfQGb6z-gg

[Armand Daiguillon]

Haven't watched it yet, but here's the YouTube:
https://youtu.be/PdfQGb6z-gg

Thank you for posting that

[Andrew Thomas]

If you didn't already do so, you do need to have a SAM account with the Government to apply for grant money, including the shuttered venue grant.

[Martin McCaffery]

And one of the things you are going to need for the SAM account is a Certificate of Existence, probably from your Secretary of State. I don't know what your State is like, but it took 3 tries for me to get one here. Get it in advance because the ask for it after you apply and only give you three business days to get one or you have to start over.

[Mark Lane]

Do I really have to pay nearly $600.00 for a SAM registration in order to apply for the Shuttered Venue grant? Am I missing something?

[Martin McCaffery]

No, the SAM registration is free. You may have to pay for a Certificate of Existence, that will depend on your state.

[Leo Enticknap]

Do I really have to pay nearly $600.00 for a SAM registration in order to apply for the Shuttered Venue grant?

You may have ended up at one of these scam sites that forwards your application to the feds for something the feds don't charge for, but for a substantial "processing fee." I have to confess that I fell victim to this when I applied for an employer ID number a few years ago. The IRS issues it for free, but I didn't know this and Google took me to the site of some scammers who relieved me of $125 to forward my application to them. Once bitten, and all that...

Here is the official SAM site.

[Ronda Love]

I wasn't asked for the letter of existence (yet), and couldn't find that from PA. Do you think the subsistence (good standing) certificate is the same thing?

But I'm working on getting a letter notarized and sent in assigning myself as the entity administrator. Here's the link for that complex process: https://www.fsd.gov/gsafsd_sp/?id=gs...314000f54bcb38

Also, there's a FAQ put out by the SBA on the 27th. It says final, but don't believe it. They'll probably have a few more. https://www.sba.gov/sites/default/fi...-FINAL-508.pdf

If you know of any museums, live stage outfits or anyone else who might benefit, let them know too. I even let my bank know because they tried to get me to take out another PPP loan which would have invalidated the grant. I think there's another SBA webinar on applying for the SAM.gov entity.

[Martin McCaffery]

A letter of good standing will not suffice (I tried). You should call your Secretary of State office and see where they keep it hidden.
Those FAQs are never final

[Andrew Thomas]

And one of the things you are going to need for the SAM account is a Certificate of Existence, probably from your Secretary of State. I don't know what your State is like, but it took 3 tries for me to get one here. Get it in advance because the ask for it after you apply and only give you three business days to get one or you have to start over.

I didn't get asked for that, and my account is active around 8 days post submitting.

[Martin McCaffery]

Rules seem to be fluid

[Martin McCaffery]

My mistake. I just found out that the Certificate of Existence was for the SBA loan for last year. It was just a co-incidence that I got the email requesting the document the day after I applied for the SAM.