 |
 |
Awesome Lynette! Good sleuthin'! Best of luck to you--and I urge everyone to take advantage of this grant. Having been a freelancer all of my career, it is amazing to actually be able to get a gov't perk, but I am so sorry that it took an existential pestilence to make this a possibility. Double-edged for sure. I hope we can all continue to work, imagine, and to illuminate the scientific world--best to all! Chris Chris Gralapp >^..^< *Chris Gralapp*,MA, CMI, FAMI Medical/Scientific Illustration 415.454.6567 chrisgralapp.com <https://urldefense.proofpoint.com/v2/url?u=http-3A__chrisgralapp.com_&d=DwIDaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=xf4r1Evmdv0PRxepIAegacifjZv1NhxWBdtRXjzCh5k&s=GILunr2vVtFcuAqsKpBx73MM8LB-Th0_d95oxZXTUOY&e= > On 4/3/2020 10:14 AM, Lynette Cook wrote: > Thank you, Chris, > > Finding the $ figure for art/studio supplies for that 12-month period > is way easier! I can do that in 5 minutes. > > To add to the info you’ve included (as an FYI to everyone on this > list): I spoke with a customer service rep at the SBA and was told > that the $10,000 can be used for ALL mortgage, insurance, property > tax, and utilities costs. For me, since I have a home studio/office, > it means I can use the funds for not only the portion of these > expenses that apply to my business and are listed on Schedule C but > ALSO for the personal portion also. This is a game changer in the best > way. > > Lynette > >> On Apr 3, 2020, at 9:43 AM, Chris Gralapp <[log in to unmask] >> <mailto:[log in to unmask]>> wrote: >> >> Hi all, >> >> I have applied for the forgivable $10K loan advance , based on >> information we have been getting via the AMI HUB. >> For Lynette, this from a prominent and very business savvy AMI >> member, on our listserv: >> >> "My accountant said to put my deductible cost of art/studio >> supplies under the cost of goods section." >> >> >> and another very informative post: >> >> the government is trying to quickly grant the small business >> economy with cash to keep it from folding while they get their >> paperwork in line for larger loans. Most of us (whether >> independant or employed with less than 500) qualify for these >> resources. There is only a certain amount available, so we are >> being encouraged to apply now. You can always turn it down later >> (or commit to less). >> >> The direct link for the EIDL Loan application is a >> "pre-application" for larger loan. It's very simple. Be sure to >> select the box for "I would like to be considered for an advance >> of up to $10,000." Followup with SBA or other lender later for a >> larger loan IF YOU WANT IT. They are not requiring the initial >> $10,000 to be repaid. If you later apply for a larger amount... >> the interest rate is capped at 4%. >> >> Read the post from Cynthia that breaks down the*3 options for >> aid*: "Summary of Resources Available to Visual Artists under the >> CARES Act >> <https://urldefense.proofpoint.com/v2/url?u=https-3A__hub.ami.org_social_community-2Dhome_digestviewer_viewthread-3FGroupId-3D19-26MessageKey-3Dd35acad8-2D0130-2D45b5-2Da3d1-2D50c2014e58bb-26CommunityKey-3D4b26a42f-2D891c-2D484b-2Da3a6-2D038c0ab61801-26tab-3Ddigestviewer-26ReturnUrl-3D-252fbrowse-252fallrecentposts&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=VzN8XLcB3i6AHwfnxD9kBWjxmB_d9J81izwXRyEnfzg&s=G3K0RqalrPZdWy3KWPXtPfsXwXH7OeoStyLOIlA5bVg&e=>" >> >> Look at this page for guidelines of what the initial grant >> (disaster loan) has to be spent on: >> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.nav.com_blog_frequently-2Dasked-2Dquestions-2Dabout-2Dapplying-2Dfor-2Dsba-2Ddisaster-2Dloans-2Ddue-2Dto-2Dcoronavirus-2D582699_&d=DwIDaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=xf4r1Evmdv0PRxepIAegacifjZv1NhxWBdtRXjzCh5k&s=_6Yd6waNIi90P8ZIhWWPYugfVz4tUl7IbwJiVwpOif4&e= >> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.nav.com_blog_frequently-2Dasked-2Dquestions-2Dabout-2Dapplying-2Dfor-2Dsba-2Ddisaster-2Dloans-2Ddue-2Dto-2Dcoronavirus-2D582699_&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=VzN8XLcB3i6AHwfnxD9kBWjxmB_d9J81izwXRyEnfzg&s=MHXD8EmTyZIIqCAdsZedBgPSXLmHHNRCikHKyxwG1_0&e=> >> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.nav.com_cares-2Dact-2Dsba-2Dloan-2Dcalculator_&d=DwIDaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=xf4r1Evmdv0PRxepIAegacifjZv1NhxWBdtRXjzCh5k&s=EGP6JZAs8Bued9F4ezf_cM3GbQ1dn0uJWhreUts_BDE&e= >> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.nav.com_cares-2Dact-2Dsba-2Dloan-2Dcalculator_&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=VzN8XLcB3i6AHwfnxD9kBWjxmB_d9J81izwXRyEnfzg&s=5ml94PxI72unKn3STFa-2PhYPsRpwYacjjfbio5Xze8&e=>(scroll >> to CARES Act SBA Loan FAQ under calculator) >> >> >> These grants may be used for: >> >> * providing paid sick leave to employees unable to work due to >> the direct effect of the COVID–19; >> * maintaining payroll to retain employees during business >> disruptions or substantial slowdowns; >> * meeting increased costs to obtain materials unavailable from >> the applicant's original source due to interrupted supply >> chains; >> * *making rent or mortgage payments*; and >> * *repaying obligations that cannot be met due to revenue losses*. >> >> *These grants do not have to be repaid. >> * >> >> * >> * >> >> And finally legally vetted info from Bruce Lehman, counsel to the >> American Society of Illustrators Partnership, to which AMI belongs, >> has this rundown for several forms of relief for us: >> >> _*Pandemic Emergency Unemployment Compensation*_ >> >> Normally, self-employed individuals are not covered under >> state-operated unemployment compensation programs as the >> premium for unemployment compensation insurance is paid by an >> employer. However, the emergency legislation covers >> self-employed persons who lose their income. The new >> legislation expands eligibility to include anyone who is: >> >> *"self-employed, is seeking part-time employment, does >> not have sufficient work history, or otherwise would not >> qualify for regular unemployment under State or Federal >> law...." * >> >> Under this provision of the CARES Act, a self-employed person >> will receive the weekly payment that their state normally >> provides under unemployment compensation insurance plus $600. >> The benefit lasts for up to 39 weeks. The applicant for >> unemployment compensation may self-certify that he or she is >> otherwise able to work and available to work except for their >> unemployment or because they have been diagnosed with the >> Covid-19 virus, are unable to reach their place of employment >> because of the Covid-19 virus or are caring for someone with >> the virus. >> >> To participate in this program a freelancer or self-employed >> artist needs to apply through their state's unemployment >> office. In most cases this can be done online. The following >> URL from the U.S. Department of Labor contains information >> and has a menu option that will link you to your state >> office. >> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.careeronestop.org_LocalHelp_UnemploymentBenefits_&d=DwIDaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=xf4r1Evmdv0PRxepIAegacifjZv1NhxWBdtRXjzCh5k&s=pzupEpU7RtCFC4hdLkym6ZnnsI_wwXAItpp-SUD1AiI&e= >> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.careeronestop.org_LocalHelp_UnemploymentBenefits_find-2Dunemployment-2Dbenefits.aspx&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=VzN8XLcB3i6AHwfnxD9kBWjxmB_d9J81izwXRyEnfzg&s=jAUKDLS-SZhPvE7iaZttLNUBzpF_mOr2PqEQKbqSt1U&e=> >> >> _* >> *_ >> >> _*Economic Injury Disaster Loans (EIDL)*_ >> >> EIDL loans are normally used in the case of natural disasters >> such as a hurricane. Small businesses with fewer than 500 >> employees may borrow up to $2 million under the program. >> However, the CARES Act extends the EIDL program to >> self-employed individuals and non-profits with fewer than 500 >> employees who have suffered economic loss as a result of the >> Coronavirus pandemic. >> >> The program is administered by the Small Business >> Administration (SBA). Anyone falling into these categories >> may apply for loan "advance" of up to $10,000 for the purpose >> of maintaining payroll, meeting increased costs to obtain >> materials, or making mortgage or rent payments. There is >> little paperwork and the applicant can self-certify that he >> or she meets the criteria. The SBA is supposed to provide the >> loan advance within three days of application. >> >> While these advances are called loans, repayment is waived if >> the applicant uses the money for the enumerated purposes. >> Information about applying for an EIDL advance, including a >> link to an online application, may be found on the SBA >> website at >> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.sba.gov_disaster-2Dassistance_coronavirus-2Dcovid-2D19&d=DwIDaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=xf4r1Evmdv0PRxepIAegacifjZv1NhxWBdtRXjzCh5k&s=ik7dXjCB4QknICewWqhrUijEnzZMPNwgC8CN__4sCXU&e= >> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.sba.gov_disaster-2Dassistance_coronavirus-2Dcovid-2D19&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=VzN8XLcB3i6AHwfnxD9kBWjxmB_d9J81izwXRyEnfzg&s=LW_hunt6g-IDIBx-gufYOKj3tgRLLkZqi4KnbL9R6jo&e=>. >> >> If an applicant also applies for a loan under the Paycheck >> Protection Program, separately provided in the CARES Act, the >> $10,000 advance will be deducted from any loan under that >> program. >> >> _* >> *_ >> >> >^..^< >> *Chris Gralapp*,MA, CMI, FAMI >> Medical/Scientific Illustration >> 415.454.6567 >> chrisgralapp.com >> <https://urldefense.proofpoint.com/v2/url?u=http-3A__chrisgralapp.com_&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=VzN8XLcB3i6AHwfnxD9kBWjxmB_d9J81izwXRyEnfzg&s=xnRPfSQ5riXte9MDmzbOjKkbsMBnH9LQwiZVZleag_c&e=> >> >> On 4/3/2020 9:02 AM, Lynette Cook wrote: >>> Thank you, Chris. Yes, I think I’ll have to make an educated guess. >>> >>> Marj, I’m applying for the EIDL loan (as per the CARES Act/COVID-19 >>> relief). Many of the rest of you may qualify for this also and might >>> want to look into it. (I’m unsure whether I’m allowed to give more >>> info based on the parameters of what financial topics we can discuss >>> on this list, though will be happy to do so if I may.) >>> >>> The form requires that I list COGS for the period of 2-1-2019 - >>> 1-31-2020. So this is not for insurance, inventory, or tax purposes. >>> I’ve never had to calculate COGS before in my 35 years of being sole >>> proprietor of my freelance/self-employed business. But I have to do >>> it now! >>> >>> Lynette >>> >>>> On Apr 3, 2020, at 8:49 AM, Marjorie Leggitt <[log in to unmask] >>>> <mailto:[log in to unmask]>> wrote: >>>> >>>> All, is it just me or am I just clueless about COGS? Is this only >>>> for S-, C-corps or an LLC? I’m not seeing anything about this for >>>> Sole Proprietor. >>>> Marj >>>> Leggitt Design >>>> 303.394.0566 >>>> >>>>> On Apr 3, 2020, at 9:39 AM, Chris Gralapp <[log in to unmask] >>>>> <mailto:[log in to unmask]>> wrote: >>>>> >>>>> Lynette, >>>>> >>>>> I think it is OK to make an educated guess, and ballpark >>>>> it--that's what I did--I have a feeling that there won't be too >>>>> many questions asked. But that's just me! >>>>> >>>>> Chris >>>>> >>>>> >^..^< >>>>> *Chris Gralapp*,MA, CMI, FAMI >>>>> Medical/Scientific Illustration >>>>> 415.454.6567 >>>>> chrisgralapp.com >>>>> <https://urldefense.proofpoint.com/v2/url?u=http-3A__chrisgralapp.com_&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=t0Cd-VVpc8736T2oe4t6_yoQW08ulUbtE4bT6b7qeas&s=AWu_iZaNLIobvyWsVR6t1JKpE0Cihlek7VFClQkqLJE&e=> >>>>> >>> >>> ________________________________________________ >>> >>> Need to leave or subscribe to the Sciart-L listserv? Follow the >>> instructions at >>> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.gnsi.org_listserv&d=DwIDaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=xf4r1Evmdv0PRxepIAegacifjZv1NhxWBdtRXjzCh5k&s=sG3lZ1pCCqvnkJzOsBnDFhqK3d2wilsVSzLlAxzch44&e= >>> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.gnsi.org_listserv&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=VzN8XLcB3i6AHwfnxD9kBWjxmB_d9J81izwXRyEnfzg&s=mOchdcQezB7e-2vxAswyo34pzmeXrykiijiuhu9bZcU&e=>List >>> name is Sciart-L >>> Problems: Email Lana Johnson [log in to unmask] >>> >> >> ________________________________________________ >> >> Need to leave or subscribe to the Sciart-L listserv? Follow the >> instructions at >> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.gnsi.org_listserv&d=DwIDaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=xf4r1Evmdv0PRxepIAegacifjZv1NhxWBdtRXjzCh5k&s=sG3lZ1pCCqvnkJzOsBnDFhqK3d2wilsVSzLlAxzch44&e= >> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.gnsi.org_listserv&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=t1A5DzkouYHLJOTuQCSNlbk4gM3mecT_TYIpTV0Bvv0&s=GgqwNTLhdLvvKI13FQWWwsGblk__YFWARsitTSD7cjk&e=>List >> name is Sciart-L >> Problems: Email Lana Johnson [log in to unmask] >> <mailto:[log in to unmask]> >> > > ________________________________________________ > > Need to leave or subscribe to the Sciart-L listserv? Follow the > instructions at > https://urldefense.proofpoint.com/v2/url?u=https-3A__www.gnsi.org_listservList&d=DwIDaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=xf4r1Evmdv0PRxepIAegacifjZv1NhxWBdtRXjzCh5k&s=TcXZQjLra_sn2K7ARSuks_2rlZRMtxQpQZOKSY7HbKI&e= name is Sciart-L > Problems: Email Lana Johnson at [log in to unmask] > Instructions to subscribe or leave the list are at https://www.gnsi.org/listserv List name is Sciart-L Problems: Email Lana Johnson at [log in to unmask]