Posts by Joshua H. Sheskin

Gavel on top a termination of employment form

When can I sue for wrongful termination in Florida

As an employment lawyer, I get inquiries from a lot of people who want to know if they can sue their employer, after they were fired unfairly. People assume that they can sue their employer for wrongful...

Sign in store front window labeled sorry we're closed

If I am an independent contractor, or sole proprietor, how much can I qualify to borrow under the PPP?

An independent contractor, or sole-proprietor, can qualify for 2.5 times their monthly net income as reported on their 2019 taxes. This requires that you at least have a copy of your 2019 taxes, even if you have not submitted them yet.

Business loan application form

I hear the application form at some banks is two pages, other banks take fifteen minutes to apply, is this true?

No, people mistake the one, or two-page, form they fill out through Suntrust, BB&T, and others, as the full application. What you are really doing is reserving a spot in line for the funding, but you are not applying for the funding yet.

A ravine separating employers and employees

Can I furlough, fire, or cut time, for employees while waiting for my PPP Loan to come through?

Yes. In June of 2020 you have to have as many employees as you did in June of 2019, to get full forgiveness. However, that only applies to having that many employees in June of 2020. If you are not able to sustain that number of employees now there are things you can do until June 2020, to reduce your workforce without penalty.

Man with empty pockets

Is the funding for the PPP running out? Is it too late for me to apply? And which bank is best for me to apply?

It is not too late to apply. However we do recommend applying as soon as possible before funds run out. Just yesterday the government announced additional funding, so it seems likely they will continue to add money to cover loans. But most experts agree it will impossible to cover all requested loans, so those that apply first will be more likely to get their full requested amount.

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