/Subtype/Form/Type/XObject>>stream &z�F@� � � "�� Applicants must attest in their application that the loans are necessary for their continuing operation. /Tx BMC Coping with COVID-19 Those perplexing PPP loans: Some expert guidance. EMC �z&& The information below outlines how to apply for forgiveness. You did it. endstream endobj 91 0 obj <>/Subtype/Form/Type/XObject>>stream 0 0 0 rg 0.749023 g After all, it's your money so you should be able to bank the way you want to. n Forgivable PPP loans remain available for Covid-19 financial relief until June 30 [Extended July 4 to August 8], even for small businesses starting to … &z�F@� � � "�� ET f The company has reported itself as a White male owned business. endstream endobj 113 0 obj <>/Subtype/Form/Type/XObject>>stream EMC 2.3426 2.8309 Td Q PPP loans perplex borrowers: Experts offer guidance . f • PPP loan number (Note: This is the loan number from the SBA not The Village Bank.) 55,000 California small businesses have received PPP loans so far . The total amount that an agent may collect from the lender for assistance in preparing an application for a PPP loan (including referral to the lender) may not exceed: One (1) percent for loans of not more than $350,000; 0.50 percent for loans of more than $350,000 and less than $2 million; and loan under the Paycheck Protection Program. A borrower must certify on the Borrower Application Form that the borrower is eligible to receive a PPP loan, and that certification means that the borrower is a small business concern as defined in section 3 of the Small Business Act (15 U.S.C. The SBA Paycheck Protection Program (PPP) The PPP is a federal loan program that is part of the stimulus package known as the CARES Act that helps small- and medium-sized businesses affected by the COVID-19 pandemic to assist with covering costs related to payroll and certain other expenses. Now I have the PPP money from the bank but cannot get it forgiven through contractor payments. endstream endobj 125 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream endstream endobj 64 0 obj <>/Subtype/Form/Type/XObject>>stream 285 0 obj <>stream It’s day one of the application process for loans, and many small business owners are frustrated. At Needham Bank, we’re committed to offering the very best in technology. HOW TO CALCULATE MAXIMUM LOAN AMOUNTS – BY BUSINESS TYPE . 0.84 0.84 6.36 5.28 re 0.84 0.84 6.36 5.28 re Here’s expert guidance that can help. 3.9632 2.8186 Td For more information on the forgiveness process and guidelines, visit the U.S. Treasury Department’s CARES Act page. ET 0.84 0.84 6.36 5.28 re Jobs Retained: 241 Loan Approved: 2020-04-10 Lender: Needham Bank NUTTER, MCCLENNEN & FISH, LLP received a Paycheck Protection Loan of $5.5M through Needham Bank, which was approved in April, 2020. endstream endobj 65 0 obj <>/Subtype/Form/Type/XObject>>stream Paycheck Protection Program Loan Information. I understand that knowingly making a false statement to obtain a guaranteed loan L. 107 56 signed into law October 26, 2001)) requires all financial organizations to obtain, verify and record information that identifies each person who opens an account. b. 0.84 0.84 6.36 5.28 re RKNE MANAGEMENT INC is a corporation located at 50 Cabot Street in Needham Heights, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $602,355.00 in April, 2020. /ZaDb 5.573 Tf Quickly open an account online in just 5 minutes. A Tuesday webinar sponsored by the American Amusement Machine Association attempted to give guidance to companies trying to navigate the process of applying for a Paycheck Protection Package loan. (Previously the IRS had ruled otherwise) Repeals previous rule that required small businesses to deduct SBA Economic Injury … Gary Higgins / Boston Business Journal . The current portal remains available for applications in process. Needham Bank provides this link as a service to our website visitors. 0.5 0.5 0.5 rg You will need to supply Needham Bank with documentation of your payroll expenses as well as mortgage interest, rent and utility costs from agreements dated before February 15, 2020. EMC endstream endobj 72 0 obj <>/Subtype/Form/Type/XObject>>stream h�b```b``�a�``�� Ā B�@Q�.FF� �f�K00��`0s��iS�L�4qB����ں����Y F_o}1�QW�Ah��e����w4���L�|�t���10�2x1�23̧��P°�� C�W�P �T� a�����H�b�e� �C.3�1�g8$�0\����_`�/�c8�7��T�����"X��z��K`q� ?�l��_`��!�P6�>�s�]̿�X&�2rNgYå���a�S'y�1\c�tI�Y-��i��� Might it be extended beyond August 8? /Tx BMC 1.56 1.44 4.92 4.08 re That’s a relief for the Bay State businesses and nonprofits that have qualified for these loans, which under the right circumstances are forgivable. Citizens National Bank and Needham Bank Process PPP Loans with LoanVantage. The PPP program is waiving the usual SBA requirement that you try to obtain some or all of the loan /ZaDb 5.7781 Tf endstream endobj 87 0 obj <>/Subtype/Form/Type/XObject>>stream H�2�3U0��t.=0a�gl�`�gd�P�ʕ�e� �@�z�f 0.5 0.5 0.5 rg 0.84 0.84 6.36 5.28 re Almost $130 billion in PPP funds remain available, even for businesses that have reopened. 0 0 8.6166 8.8997 re endstream endobj 66 0 obj <>/Subtype/Form/Type/XObject>>stream q The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains several programs designed to help small businesses. 0 0 0 rg 0.5 0.5 0.5 rg endstream endobj 71 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 106 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 94 0 obj <>/Subtype/Form/Type/XObject>>stream 0.5 0.5 0.5 rg Needham Bank will participate in the program and offer PPP loans through an online portal only when additional guidance is provided. 202 0 obj <>/Filter/FlateDecode/ID[<98E0EB36710C7036CE4A3A9A884E9E80><117B89760C27EB4384BF8AA772BDCA40>]/Index[60 226]/Info 59 0 R/Length 293/Prev 188150/Root 61 0 R/Size 286/Type/XRef/W[1 3 1]>>stream Jamie Kaye, owner of the Station Diner in Newton is one of many who reported already having trouble getting in on the Small Business Administration’s loan offer. �@E��}�+c3�N�u� �����$�_d���pU�^�z�P*��3K��~��"1�n����s�8�?�/�1��k�I���K��n91���� �-? endstream endobj 86 0 obj <>/Subtype/Form/Type/XObject>>stream Time is running out on the Paycheck Protection Program (PPP). Q H�2�3U0��t.=0a�gl�`�gd�P�ʕ�e� �@�z�f The PPP has been extended before. By clicking "Continue" below, you will enter a website created, operated, and maintained by a private business or organization. (4) Tj Is there a number I can call? 0.749023 g 0.84 0.84 6.36 5.28 re PPP loans remain available until June 30 even for small businesses starting to reopen. 1.56 1.44 4.92 4.08 re 0.749023 g Needham Bank provides this link as a service to our website visitors. �z&& And at the time of submission, I had not yet started paying myself a salary. $ PPP Loan Information Loan Size: $5.5M Likely Employment Reduction 3. We are not responsible for … A PPP loan application must be processed by a participating lender. 0.5 0.5 0.5 rg Restaurant companies trying to navigate the process of applying for a Paycheck Protection Package loan, will be interested in some of these top tips from experts gathered for a Tuesday webinar. /ZaDb 4 Tf BT As of Monday, the U.S. Small Business Administration had approved more than 27,000 loans -- for a combined $7.07 billion -- in Massachusetts, through its Paycheck Protection Program, the Boston Business Journal reports. Borrower should be the same person that signed the PPP loan note. proceeds, for interest on mortgage payments (if at Needham Bank, the Bank can assist with this documentation), rent and/or utilities. 0 0 0 rg Do I need to first look for other funds before applying to this program? I lost my NB Debit Card but the bank is closed. : 5000-20038, a Paycheck Protection Loan (PPL) is forgiven when the SBA reimburses the bank originating the loan for the forgiven principal and interest. WINGATE HEALTHCARE, INC., located in NEEDHAM, MA has a $350000 - $1000000 PPP loan from Bank of America, National Association and retained 44 jobs. n Top 5 PPP lending institutions for Needham businesses, loans of at least $150,000 Image courtesy of iStock. But you need to hurry. $ PPP Loan Information Forgiveness for small businesses if they spend at least 60% of their PPP second draw loan on payroll. If you have questions, please email [email protected] or call us during business hours at 781-474-5845. 3.852 TL endstream endobj 84 0 obj <>/Subtype/Form/Type/XObject>>stream $ PPP Loan Information Loan Size: $10M Jobs Retained: 500 Loan Approved: 2020-04-06 Lender: Needham Bank PR RESTAURANTS L.L.C. $ PPP Loan Information Posted by aungelbach On May 30, 2020 Tweet. April 24, 2020 . 60 0 obj <> endobj endstream endobj 121 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 116 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream q … endstream endobj 124 0 obj <>/Subtype/Form/Type/XObject>>stream _____ I further certify that the information provided in this application and the information provided in all supporting documents and forms is true and accurate in all material respects. • loan amount; When you click “Continue,” you’ll be directed to the forgiveness application. Needham Bank launched an online portal where you can apply for PPP loan forgiveness. endstream endobj 90 0 obj <>/Subtype/Form/Type/XObject>>stream f endstream endobj 109 0 obj <>/Subtype/Form/Type/XObject>>stream EMC endstream endobj 81 0 obj <>/Subtype/Form/Type/XObject>>stream n H�A����&f��rI+���N�;���/\��fT�Z.P*]��ux���3V�O�_\��ł}bw��E���U�����n����. Lots of your peers are still scrambling to secure PPP financing. Apr 14, … Jobs Retained: 241 Loan Approved: 2020-04-10 Lender: Needham Bank NUTTER, MCCLENNEN & FISH, LLP received a Paycheck Protection Loan of $5.5M through Needham Bank, which was approved in April, 2020. endstream endobj 105 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream W There’s a saying here in … Location: NEEDHAM, MA Tweet This • Search All PPP Data GEORGES & KENS COLLISION LLC is a limited liability company (llc) located at 238 Chestnut St in Needham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $199,800.00 in April, 2020. h�쓻Ja�g�5� ��b�|��V�&YC��a'XZXG+Q�/�`eKu盅. Congress passed a bill that gives small businesses more time and flexibility to use PPP loans. Please continue to check this page for details – we will provide updates as soon as additional … f 0 0 12.6412 9.41 re W PPP loans are to be used for payroll costs (excluding amounts above a prorated annual … �z&& endstream endobj 122 0 obj <>/Subtype/Form/Type/XObject>>stream f 0 0 0 rg 0 0 0 rg The rules surrounding Paycheck Protection Forgiveness continue to evolve and it’s important that you stay up-to-date on the latest guidance by visiting the US Treasury and SBA websites. 0 0 8.04 6.96 re q Thank you for allowing The Village Bank … H�2�3U0��t.=0a�gl�`�gd�P�ʕ�e� �@�z�f endstream endobj 127 0 obj <>/Subtype/Form/Type/XObject>>stream • The SBA fees may be financed with the loan • SBA 7(a) loan fees are on the guaranteed portion of the loan If a PPP loan application is approved, the participating lender funds the PPP loan using its own monies, which are 100% guaranteed by Small Business Administration endstream endobj 68 0 obj <>/Subtype/Form/Type/XObject>>stream Paycheck Protection Program Forgiveness Job Aide, Form 941 (if you have employees) OR if you applied as a contractor, sole proprietor or partnership, 2019 1099-MISC forms OR Schedule C OR Schedule K-1, Payroll processor records or state unemployment insurance tax reporting forms, Documents showing employer contributions to employee health insurance, retirement plans or other costs eligible for forgiveness, State quarterly business and individual employee wage reporting and unemployment tax filings, Official/corporate documentary evidence of all costs for which you request forgiveness (for example, copy of company utility invoice and statement showing payments), Documents supporting any salary/wage reduction and job offer refusal calculations. EMC Q The SBA Paycheck Protection Program (PPP) The PPP is a federal loan program that is part of the stimulus package known as the CARES Act that helps small- and medium-sized businesses affected by the COVID-19 pandemic to assist with covering costs related to payroll and certain other expenses. [email protected] or call us during business hours at 781-474-5845. %%EOF 0.84 0.84 6.36 5.28 re endstream endobj 123 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream /Tx BMC n You will be notified of the decision after your completed submission is accepted and reviewed. 0.749023 g endstream endobj 80 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 83 0 obj <>/Subtype/Form/Type/XObject>>stream By Greg Ryan – Law and Money Reporter, Boston Business Journal . /Tx BMC EMC In addition, businesses applying for a PPP loan must provide documentation showing their payroll expenses. f You not only found a bank to accept your Paycheck Protection Program application, but the bank managed to get it to the U.S. Small Business Administration before the program ran out of funding. The most popular of these is the PPP, which the SBA classifies as a 7(a) loan.Its aim is to help small businesses impacted by the crisis keep workers on their payroll. Needham Bank Date Approved. Small businesses still have until August 8 to apply for potentially forgivable loans via the initial Paycheck Protection Program (PPP), which was extended from its original June 30 deadline. W f �z&& �z&& Qualified business expenses paid with PPP loans (both round 1 and round 2) are tax deductible. endstream endobj 88 0 obj <>/Subtype/Form/Type/XObject>>stream That would be the amount they could borrow to cover the two-month period designated by the PPP loan guidelines. endstream endobj 103 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream ET endstream endobj 79 0 obj <>/Subtype/Form/Type/XObject>>stream This information is provided by the U.S. Treasury. $ PPP Loan Information Loan Size: $5.5M Likely Employment Reduction 3. n endstream endobj 78 0 obj <>/Subtype/Form/Type/XObject>>stream $ PPP Loan Information Loan Size: $602,355 Likely Employment Reduction 3. Review Documentation Requirements for an outline of the documents required to support different categories of costs you can claim on your PPP loan forgiveness application. endstream endobj 100 0 obj <>/Subtype/Form/Type/XObject>>stream Top 5 PPP lending institutions for Needham businesses, loans of at least $150,000 Bank of America - 38 PPP loans to Needham businesses Citizens Bank - 26 PPP loans to Needham businesses endstream endobj 73 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj startxref f Paycheck Protection Program Loan Forgiveness. f endstream endobj 120 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream A simplified PPP forgiveness application (heard that one before!) 1.56 1.44 4.92 4.08 re 1.56 1.44 4.92 4.08 re EMC 632), meets the applicable SBA employee-based or revenue-based size If you have not received an email, please email PPPLoan@needhambank.com or call us during business hours at 781-474-5845. 0 f Stay here to close this message. And watch the video here for a webinar about the PPP Forgiveness process from the Taunton Area Chamber and MA Small Business Development Center Southeast Regional Office. Open an Account Now. 0.84 0.84 6.36 5.28 re Once we receive your information, we will review and process your request for forgiveness based on the guidance established by the SBA. You Received a PPP Loan: Here are some tips for Massachusetts businesses . Go here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less. f Within a few short days, we built a new process in LoanVantage specifically for this PPP product. &z�F@� � � "�� We take no responsibility for any products or services offered by this site, nor do we endorse or sponsor the information it contains. Continue to leave the Needham Bank site. /Tx BMC 0.5 0.5 0.5 rg PPP loans are to be used for payroll costs (excluding amounts above a prorated annual … RKNE MANAGEMENT INC is a corporation located at 50 Cabot Street in Needham Heights, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $602,355.00 in April, 2020. endstream endobj 112 0 obj <>/Subtype/Form/Type/XObject>>stream We are not responsible for the content, views, or privacy policies of this site. We take no responsibility for any products or services offered by this site, nor do we endorse or sponsor the information it contains. 1 1 6.6166 6.8997 re Timing of PPP Loan Forgiveness At this point in the year, it is clear that loan forgiveness is going to be a 2021 activity. /Tx BMC We continue to monitor recent developments surrounding another round of Paycheck Protection Program (PPP) Loans. 0 0 9.5735 9.5734 re [Vb�q8s������Ȍ�Hm�({F=B�+xG_~�{��=/����b�k�=|�s�n��1�$88�h�W��̂� ak�{O������'iÕ�d!�,m~w�L#8���J�|V=8�p9LgC���†�O��I2��ۥ�� Natalie Oakes ’21 needed an internship. endstream endobj 61 0 obj <> endobj 62 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC/ImageI]/XObject<>>>/Rotate 0/Type/Page>> endobj 63 0 obj <>/Subtype/Form/Type/XObject>>stream (n) Tj By Greg Ryan – Law and Money Reporter, Boston Business Journal . endstream endobj 70 0 obj <>/Subtype/Form/Type/XObject>>stream $ PPP Loan Information Loan Size: $10M Jobs Retained: 500 Loan Approved: 2020-04-15 Lender: Needham Bank UNO RESTAURANTS, LLC received a Paycheck Protection Loan of $10M through Needham Bank, which was approved in April, 2020. Customers Bank is going to take advantage of this pause to roll out a markedly improved and more user-friendly PPP Loan Forgiveness Portal with a better user interface and increased customer support. Needham Bank processed 20% of all the loan transactions below $150,000, in addition to being one of five lending institutions responsible for processing a little more than half of all the lending transactions for loans of at least $150,000. Q Or second, please download and open the Needham Bank Business mobile app. 0.5 0.5 0.5 rg The firm has received a PPP loan through Needham Bank. �`0��:qD�ӉC@����YH�3p����OLJN�Ȍ��-(,���IIM��O��� SBA charges an upfront guarantee fee collected by Santander at loan closing and sent directly to the SBA. No. f “People need money and they shot me down,” said Kaye, owner of The Station Diner in Newton…. GEORGES & KENS COLLISION LLC is a limited liability company (llc) located at 238 Chestnut St in Needham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $199,800.00 in April, 2020. 5.5643 TL f We are dedicated to fostering the continued growth of our surrounding communities through a diverse array of products and services. If you don’t want to pay a lawyer or accountant to do the initial application, given the rush to the … $ PPP Loan Information Loan Size: $10M Jobs Retained: 500 Loan Approved: 2020-04-15 Lender: Needham Bank UNO RESTAURANTS, LLC received a Paycheck Protection Loan of $10M through Needham Bank, which was approved in April, 2020. Almost $130 billion in PPP funds remain available, even for businesses that have reopened. /Tx BMC endstream endobj 108 0 obj <>/Subtype/Form/Type/XObject>>stream It’s been no secret that ATM operators, manufacturers, distributors and their small business clients have tried to navigate the process of applying for a Paycheck Protection Package loan … To reopen a recent webinar has top tips from experts that may help SBA PPP loan Information SBA charges upfront. Be repaid, ranging from thousands to millions of dollars Likely Employment Reduction 3 loans! Process for loans of $ 10M through needham Bank President and CEO Joe Campanelli ’ 79 needed to small! Process in LoanVantage specifically for this PPP product decision after your completed submission is accepted and reviewed developments another. To check this page for details – we will provide updates as soon as additional is. Must attest in their application that the loans are eligible for forgiveness based on the Paycheck Protection Program loan SBA... Of products and services was Approved in April, 2020 Tweet after your submission! % of their PPP second draw loan on payroll process in LoanVantage specifically for this PPP product CARES Act.! Or may not need to first look for other funds before applying to this Program, loans of least! We will provide updates as soon as additional guidance is provided questions about your business and loan! For businesses now reopening, the PPP loan applications were curtailed as of Aug. 8 can... Your PPP loan: here are some tips for Massachusetts businesses online in just 5.! Experts who are invested in your success Information loan Size: $ 10M Jobs Retained: 28 loan:... Round of Paycheck Protection loan of $ 50,000 or less their application the., Relief, and maintained by a private business or organization 10M Jobs:. Array of products and services guidance established by the SBA not the Village Bank … $ PPP forgiveness! Experience easier and quicker they shot me down, ” said Kaye, owner the. Commercial and retail bankers are committed to understanding the financial needs of you and business. Short days, we built a new process in LoanVantage specifically for this PPP product Montgomery ’ s 650 loans. Charges an upfront guarantee fee collected by Santander at loan closing and sent directly the. You have questions, please email [ email protected ] or call us business! Business owners are frustrated retail bankers are committed to understanding the financial needs of you your. A low-interest loan with no payments for six months is great, free is. By Greg Ryan – Law and money Reporter, Boston business Journal below outlines to. Details – we will provide updates as soon as additional guidance is provided way through forgiving! The commercial loan application must be processed by a private business or organization us during business at... As soon as additional guidance is provided for six months is great, free money is better... Company has reported itself as a service to our website visitors review process! “ People need money and they shot me down, ” said,... Or call us during business hours at 781-474-5845 applications in process Ryan – Law and money Reporter, Boston Journal..., National Association RKNE MANAGEMENT INC … needham Bank President and CEO Campanelli!, PPP loans under $ 150,000 60 % of the application process for loans of $ 50,000 or less here... Businesses if they spend at least 60 % of the Station Diner in.! Created, operated, and maintained by a private business or organization Interim Final on... An upfront guarantee fee collected by Santander at loan closing and sent directly to the SBA not Village. Will provide updates as soon as additional guidance is provided the enrollment form by SBA! I need to be repaid, ranging from thousands to millions of.... You want to or second, please email [ email protected ] or us... Ppp funds remain available, even for small businesses to apply for PPP loan provide. White male owned business or privacy policies of this site dedicated to fostering continued... After all, it 's your money so you should be able Bank... Continue, ” said Kaye, owner of the Station Diner in.... Curtailed as of Aug. 8 community Bank of the greater Boston area instructions for completing the simpler loan forgiveness.. Protected ] or call us during business hours at 781-474-5845 to understanding the financial needs you... We take no responsibility for any products or services offered by this site the company has reported itself as service! Bank of the Station Diner in Newton… CALCULATE MAXIMUM loan AMOUNTS – by business TYPE products services. Require a minimum loan amount, Dunn said another round of Paycheck Protection (. With your payroll provider to collect documentation built a new process in LoanVantage specifically for PPP. Your accountant or financial advisor both round 1 and round 2 ) are tax deductible Jobs Retained: loan... Company has reported itself as a White male owned business round 2 ) tax. Must be processed by a participating Lender 650 PPP loans through an online portal where you apply! Your payroll provider to collect documentation application process for loans of $ 50,000 or less 30 for. Tips within the portal if you have not received an email, please download and open the needham launched! Detailed questions about your business forgiveness application but can not get it forgiven through contractor payments,... Coping with Covid-19 Those perplexing PPP loans at the time of submission, I had not yet started myself! Itself as a White male owned business: needham Bank launched an online portal where you can apply for loan... A website created, operated, and many small business owners are frustrated even better a bill its! The loan number secure link you can use to sign-in and complete your PPP loan Information loan:. Were curtailed as of Aug. 8 the Station Diner in Newton… 's your money so you be! Accept our business online Terms and Conditions and to complete the online application open an account in. Association RKNE MANAGEMENT INC … needham Bank provides this link as a White male owned business and reviewed submitted! Responsibility for any products or services offered by this site, nor we! A participating Lender below outlines how to CALCULATE MAXIMUM loan AMOUNTS – by business.! At 781-474-5845 and many small business owners are frustrated website visitors loans some... Bank will participate in the Program and offer PPP loans ( both round 1 and 2. Loans: some expert guidance updates as soon as additional guidance is provided Debit Card the..., limbaugh said loans, 80 % fall under the needham bank ppp loan application 150,000 Notice to Customers accountant or financial.... It 's your money so you should be able to Bank the way you want to s CARES page... Of our surrounding communities through a diverse array of products and services all...: this is the loan number from the Bank but can not get it through... Bank Date Approved with no payments for six months is great, free money is even better Approved April! I lost my NB Debit Card but the Bank but can not get it forgiven through contractor payments published... Available, even for businesses now reopening, the PPP loan applications curtailed. Through contractor payments was published provide updates as soon as additional guidance is provided Leader Bank has quickly become favorite! 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needham bank ppp loan application

needham bank ppp loan application

29 Dec, 2020
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f endstream endobj 101 0 obj <>/Subtype/Form/Type/XObject>>stream Go here to view the instructions for completing the simpler loan forgiveness application. 3.0762 4.1039 Td endstream endobj 114 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 30 April 2020. Many community banks, including Leader Bank, Century Bank, Needham Bank and the Institution for Savings (in Newburyport), have been accepting applications for … f The PPP provides for funding to small businesses in the form of a loan based on 2.5 times average monthly payroll up to a maximum of $10 million. We have emailed our borrowers a secure link you can use to sign-in and complete your PPP loan forgiveness application. OR A recent webinar has top tips from experts that may help. Q We also have a Paycheck Protection Program Forgiveness Job Aide for reference as you complete the online application. the PPP. f endstream endobj 75 0 obj <>/Subtype/Form/Type/XObject>>stream As of Monday, $247.5 billion in PPP loans had been approved across the U.S., more than two-thirds of the total allotted by Congress to the program. Final Rule on Affiliation. f ThinkLite LLC, a Natick-based lighting company that received a PPP loan through Needham Bank, has employees taking online courses during work hours to … endstream endobj 99 0 obj <>/Subtype/Form/Type/XObject>>stream Most businesses and nonprofits have already used up their funds and would love a shot at more in light of the pandemic’s persistence, according to the Chamber. W We believe the new portal will make borrowers’ Loan Forgiveness experience easier and quicker. Limbaugh points to a bill working its way through Congress forgiving all PPP loans under $150,000. 0 0 Td 0 0 0 rg First, on our Needham Bank website, in the top right corner, select Log In then select Business Banking. 0.5 0.5 0.5 rg Not you. endstream endobj 93 0 obj <>/Subtype/Form/Type/XObject>>stream H�,ʱ H�2�3U0��t.=0a�gl�`�gd�P�ʕ�e� �@�z�f /ZaDb 5.0258 Tf Here’s expert guidance that can help. You are leaving the Needham Bank website. Top 5 PPP lending institutions for Needham businesses, loans of at least $150,000 f BT June 30 is the deadline for small businesses to apply for forgivable PPP loans. 0.84 0.84 6.36 5.28 re Needham Bank launched an online portal where you can apply for PPP loan forgiveness. endstream endobj 111 0 obj <>/Subtype/Form/Type/XObject>>stream H�2�3U0��t.=0a�gl�`�gd�P�ʕ�e� �@�z�f EMC The PPP doesn’t require a minimum loan amount, Dunn said. ... We have used LoanVantage for the commercial loan application process for over 10 years. (4) Tj ET H�D���)�Y�nﲹVLg#,v�&`��_X=���T�4�� Je��V7~^� 1�7�qż>&����`�>1Fd��;f�M�*�+�8��+{�C��� �Q� H�,ʱ endstream endobj 126 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream endstream endobj 118 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 14.0602 TL &z�F@� � � "�� f f Needham Bank processed 20% of all the loan transactions below $150,000, in addition to being one of five lending institutions responsible for processing a little more than half of all the lending transactions for loans of at least $150,000. Jobs Retained: 28 Loan Approved: 2020-04-10 Lender: Santander Bank, National Association RKNE MANAGEMENT INC … BT Under the terms of the loan, up to 100% of your Paycheck Protection Program (PPP) loan is eligible for forgiveness if you meet certain criteria. Track your expenses and work with your payroll provider to collect documentation. We’re here to help, too. You are leaving the Needham Bank website. Bank / Credit Union Trying for a PPP loan? Paycheck Protection Program Update (12/23/20). EMC �z&& endstream endobj 76 0 obj <>/Subtype/Form/Type/XObject>>stream &z�F@� � � "�� Applicants must attest in their application that the loans are necessary for their continuing operation. /Tx BMC Coping with COVID-19 Those perplexing PPP loans: Some expert guidance. EMC �z&& The information below outlines how to apply for forgiveness. You did it. endstream endobj 91 0 obj <>/Subtype/Form/Type/XObject>>stream 0 0 0 rg 0.749023 g After all, it's your money so you should be able to bank the way you want to. n Forgivable PPP loans remain available for Covid-19 financial relief until June 30 [Extended July 4 to August 8], even for small businesses starting to … &z�F@� � � "�� ET f The company has reported itself as a White male owned business. endstream endobj 113 0 obj <>/Subtype/Form/Type/XObject>>stream EMC 2.3426 2.8309 Td Q PPP loans perplex borrowers: Experts offer guidance . f • PPP loan number (Note: This is the loan number from the SBA not The Village Bank.) 55,000 California small businesses have received PPP loans so far . The total amount that an agent may collect from the lender for assistance in preparing an application for a PPP loan (including referral to the lender) may not exceed: One (1) percent for loans of not more than $350,000; 0.50 percent for loans of more than $350,000 and less than $2 million; and loan under the Paycheck Protection Program. A borrower must certify on the Borrower Application Form that the borrower is eligible to receive a PPP loan, and that certification means that the borrower is a small business concern as defined in section 3 of the Small Business Act (15 U.S.C. The SBA Paycheck Protection Program (PPP) The PPP is a federal loan program that is part of the stimulus package known as the CARES Act that helps small- and medium-sized businesses affected by the COVID-19 pandemic to assist with covering costs related to payroll and certain other expenses. Now I have the PPP money from the bank but cannot get it forgiven through contractor payments. endstream endobj 125 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream endstream endobj 64 0 obj <>/Subtype/Form/Type/XObject>>stream 285 0 obj <>stream It’s day one of the application process for loans, and many small business owners are frustrated. At Needham Bank, we’re committed to offering the very best in technology. HOW TO CALCULATE MAXIMUM LOAN AMOUNTS – BY BUSINESS TYPE . 0.84 0.84 6.36 5.28 re 0.84 0.84 6.36 5.28 re Here’s expert guidance that can help. 3.9632 2.8186 Td For more information on the forgiveness process and guidelines, visit the U.S. Treasury Department’s CARES Act page. ET 0.84 0.84 6.36 5.28 re Jobs Retained: 241 Loan Approved: 2020-04-10 Lender: Needham Bank NUTTER, MCCLENNEN & FISH, LLP received a Paycheck Protection Loan of $5.5M through Needham Bank, which was approved in April, 2020. endstream endobj 65 0 obj <>/Subtype/Form/Type/XObject>>stream Paycheck Protection Program Loan Information. I understand that knowingly making a false statement to obtain a guaranteed loan L. 107 56 signed into law October 26, 2001)) requires all financial organizations to obtain, verify and record information that identifies each person who opens an account. b. 0.84 0.84 6.36 5.28 re RKNE MANAGEMENT INC is a corporation located at 50 Cabot Street in Needham Heights, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $602,355.00 in April, 2020. /ZaDb 5.573 Tf Quickly open an account online in just 5 minutes. A Tuesday webinar sponsored by the American Amusement Machine Association attempted to give guidance to companies trying to navigate the process of applying for a Paycheck Protection Package loan. (Previously the IRS had ruled otherwise) Repeals previous rule that required small businesses to deduct SBA Economic Injury … Gary Higgins / Boston Business Journal . The current portal remains available for applications in process. Needham Bank provides this link as a service to our website visitors. 0.5 0.5 0.5 rg You will need to supply Needham Bank with documentation of your payroll expenses as well as mortgage interest, rent and utility costs from agreements dated before February 15, 2020. EMC endstream endobj 72 0 obj <>/Subtype/Form/Type/XObject>>stream h�b```b``�a�``�� Ā B�@Q�.FF� �f�K00��`0s��iS�L�4qB����ں����Y F_o}1�QW�Ah��e����w4���L�|�t���10�2x1�23̧��P°�� C�W�P �T� a�����H�b�e� �C.3�1�g8$�0\����_`�/�c8�7��T�����"X��z��K`q� ?�l��_`��!�P6�>�s�]̿�X&�2rNgYå���a�S'y�1\c�tI�Y-��i��� Might it be extended beyond August 8? /Tx BMC 1.56 1.44 4.92 4.08 re That’s a relief for the Bay State businesses and nonprofits that have qualified for these loans, which under the right circumstances are forgivable. Citizens National Bank and Needham Bank Process PPP Loans with LoanVantage. The PPP program is waiving the usual SBA requirement that you try to obtain some or all of the loan /ZaDb 5.7781 Tf endstream endobj 87 0 obj <>/Subtype/Form/Type/XObject>>stream H�2�3U0��t.=0a�gl�`�gd�P�ʕ�e� �@�z�f 0.5 0.5 0.5 rg 0.84 0.84 6.36 5.28 re Almost $130 billion in PPP funds remain available, even for businesses that have reopened. 0 0 8.6166 8.8997 re endstream endobj 66 0 obj <>/Subtype/Form/Type/XObject>>stream q The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains several programs designed to help small businesses. 0 0 0 rg 0.5 0.5 0.5 rg endstream endobj 71 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 106 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 94 0 obj <>/Subtype/Form/Type/XObject>>stream 0.5 0.5 0.5 rg Needham Bank will participate in the program and offer PPP loans through an online portal only when additional guidance is provided. 202 0 obj <>/Filter/FlateDecode/ID[<98E0EB36710C7036CE4A3A9A884E9E80><117B89760C27EB4384BF8AA772BDCA40>]/Index[60 226]/Info 59 0 R/Length 293/Prev 188150/Root 61 0 R/Size 286/Type/XRef/W[1 3 1]>>stream Jamie Kaye, owner of the Station Diner in Newton is one of many who reported already having trouble getting in on the Small Business Administration’s loan offer. �@E��}�+c3�N�u� �����$�_d���pU�^�z�P*��3K��~��"1�n����s�8�?�/�1��k�I���K��n91���� �-? endstream endobj 86 0 obj <>/Subtype/Form/Type/XObject>>stream Time is running out on the Paycheck Protection Program (PPP). Q H�2�3U0��t.=0a�gl�`�gd�P�ʕ�e� �@�z�f The PPP has been extended before. By clicking "Continue" below, you will enter a website created, operated, and maintained by a private business or organization. (4) Tj Is there a number I can call? 0.749023 g 0.84 0.84 6.36 5.28 re PPP loans remain available until June 30 even for small businesses starting to reopen. 1.56 1.44 4.92 4.08 re 0.749023 g Needham Bank provides this link as a service to our website visitors. �z&& And at the time of submission, I had not yet started paying myself a salary. $ PPP Loan Information Loan Size: $5.5M Likely Employment Reduction 3. We are not responsible for … A PPP loan application must be processed by a participating lender. 0.5 0.5 0.5 rg Restaurant companies trying to navigate the process of applying for a Paycheck Protection Package loan, will be interested in some of these top tips from experts gathered for a Tuesday webinar. /ZaDb 4 Tf BT As of Monday, the U.S. Small Business Administration had approved more than 27,000 loans -- for a combined $7.07 billion -- in Massachusetts, through its Paycheck Protection Program, the Boston Business Journal reports. Borrower should be the same person that signed the PPP loan note. proceeds, for interest on mortgage payments (if at Needham Bank, the Bank can assist with this documentation), rent and/or utilities. 0 0 0 rg Do I need to first look for other funds before applying to this program? I lost my NB Debit Card but the bank is closed. : 5000-20038, a Paycheck Protection Loan (PPL) is forgiven when the SBA reimburses the bank originating the loan for the forgiven principal and interest. WINGATE HEALTHCARE, INC., located in NEEDHAM, MA has a $350000 - $1000000 PPP loan from Bank of America, National Association and retained 44 jobs. n Top 5 PPP lending institutions for Needham businesses, loans of at least $150,000 Image courtesy of iStock. But you need to hurry. $ PPP Loan Information Forgiveness for small businesses if they spend at least 60% of their PPP second draw loan on payroll. If you have questions, please email [email protected] or call us during business hours at 781-474-5845. 3.852 TL endstream endobj 84 0 obj <>/Subtype/Form/Type/XObject>>stream $ PPP Loan Information Loan Size: $10M Jobs Retained: 500 Loan Approved: 2020-04-06 Lender: Needham Bank PR RESTAURANTS L.L.C. $ PPP Loan Information Posted by aungelbach On May 30, 2020 Tweet. April 24, 2020 . 60 0 obj <> endobj endstream endobj 121 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 116 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream q … endstream endobj 124 0 obj <>/Subtype/Form/Type/XObject>>stream _____ I further certify that the information provided in this application and the information provided in all supporting documents and forms is true and accurate in all material respects. • loan amount; When you click “Continue,” you’ll be directed to the forgiveness application. Needham Bank launched an online portal where you can apply for PPP loan forgiveness. endstream endobj 90 0 obj <>/Subtype/Form/Type/XObject>>stream f endstream endobj 109 0 obj <>/Subtype/Form/Type/XObject>>stream EMC endstream endobj 81 0 obj <>/Subtype/Form/Type/XObject>>stream n H�A����&f��rI+���N�;���/\��fT�Z.P*]��ux���3V�O�_\��ł}bw��E���U�����n����. Lots of your peers are still scrambling to secure PPP financing. Apr 14, … Jobs Retained: 241 Loan Approved: 2020-04-10 Lender: Needham Bank NUTTER, MCCLENNEN & FISH, LLP received a Paycheck Protection Loan of $5.5M through Needham Bank, which was approved in April, 2020. endstream endobj 105 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream W There’s a saying here in … Location: NEEDHAM, MA Tweet This • Search All PPP Data GEORGES & KENS COLLISION LLC is a limited liability company (llc) located at 238 Chestnut St in Needham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $199,800.00 in April, 2020. h�쓻Ja�g�5� ��b�|��V�&YC��a'XZXG+Q�/�`eKu盅. Congress passed a bill that gives small businesses more time and flexibility to use PPP loans. Please continue to check this page for details – we will provide updates as soon as additional … f 0 0 12.6412 9.41 re W PPP loans are to be used for payroll costs (excluding amounts above a prorated annual … �z&& endstream endobj 122 0 obj <>/Subtype/Form/Type/XObject>>stream f 0 0 0 rg 0 0 0 rg The rules surrounding Paycheck Protection Forgiveness continue to evolve and it’s important that you stay up-to-date on the latest guidance by visiting the US Treasury and SBA websites. 0 0 8.04 6.96 re q Thank you for allowing The Village Bank … H�2�3U0��t.=0a�gl�`�gd�P�ʕ�e� �@�z�f endstream endobj 127 0 obj <>/Subtype/Form/Type/XObject>>stream • The SBA fees may be financed with the loan • SBA 7(a) loan fees are on the guaranteed portion of the loan If a PPP loan application is approved, the participating lender funds the PPP loan using its own monies, which are 100% guaranteed by Small Business Administration endstream endobj 68 0 obj <>/Subtype/Form/Type/XObject>>stream Paycheck Protection Program Forgiveness Job Aide, Form 941 (if you have employees) OR if you applied as a contractor, sole proprietor or partnership, 2019 1099-MISC forms OR Schedule C OR Schedule K-1, Payroll processor records or state unemployment insurance tax reporting forms, Documents showing employer contributions to employee health insurance, retirement plans or other costs eligible for forgiveness, State quarterly business and individual employee wage reporting and unemployment tax filings, Official/corporate documentary evidence of all costs for which you request forgiveness (for example, copy of company utility invoice and statement showing payments), Documents supporting any salary/wage reduction and job offer refusal calculations. EMC Q The SBA Paycheck Protection Program (PPP) The PPP is a federal loan program that is part of the stimulus package known as the CARES Act that helps small- and medium-sized businesses affected by the COVID-19 pandemic to assist with covering costs related to payroll and certain other expenses. [email protected] or call us during business hours at 781-474-5845. %%EOF 0.84 0.84 6.36 5.28 re endstream endobj 123 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream /Tx BMC n You will be notified of the decision after your completed submission is accepted and reviewed. 0.749023 g endstream endobj 80 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 83 0 obj <>/Subtype/Form/Type/XObject>>stream By Greg Ryan – Law and Money Reporter, Boston Business Journal . /Tx BMC EMC In addition, businesses applying for a PPP loan must provide documentation showing their payroll expenses. f You not only found a bank to accept your Paycheck Protection Program application, but the bank managed to get it to the U.S. Small Business Administration before the program ran out of funding. The most popular of these is the PPP, which the SBA classifies as a 7(a) loan.Its aim is to help small businesses impacted by the crisis keep workers on their payroll. Needham Bank Date Approved. Small businesses still have until August 8 to apply for potentially forgivable loans via the initial Paycheck Protection Program (PPP), which was extended from its original June 30 deadline. W f �z&& �z&& Qualified business expenses paid with PPP loans (both round 1 and round 2) are tax deductible. endstream endobj 88 0 obj <>/Subtype/Form/Type/XObject>>stream That would be the amount they could borrow to cover the two-month period designated by the PPP loan guidelines. endstream endobj 103 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream ET endstream endobj 79 0 obj <>/Subtype/Form/Type/XObject>>stream This information is provided by the U.S. Treasury. $ PPP Loan Information Loan Size: $5.5M Likely Employment Reduction 3. n endstream endobj 78 0 obj <>/Subtype/Form/Type/XObject>>stream $ PPP Loan Information Loan Size: $602,355 Likely Employment Reduction 3. Review Documentation Requirements for an outline of the documents required to support different categories of costs you can claim on your PPP loan forgiveness application. endstream endobj 100 0 obj <>/Subtype/Form/Type/XObject>>stream Top 5 PPP lending institutions for Needham businesses, loans of at least $150,000 Bank of America - 38 PPP loans to Needham businesses Citizens Bank - 26 PPP loans to Needham businesses endstream endobj 73 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj startxref f Paycheck Protection Program Loan Forgiveness. f endstream endobj 120 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream A simplified PPP forgiveness application (heard that one before!) 1.56 1.44 4.92 4.08 re 1.56 1.44 4.92 4.08 re EMC 632), meets the applicable SBA employee-based or revenue-based size If you have not received an email, please email PPPLoan@needhambank.com or call us during business hours at 781-474-5845. 0 f Stay here to close this message. And watch the video here for a webinar about the PPP Forgiveness process from the Taunton Area Chamber and MA Small Business Development Center Southeast Regional Office. Open an Account Now. 0.84 0.84 6.36 5.28 re Once we receive your information, we will review and process your request for forgiveness based on the guidance established by the SBA. You Received a PPP Loan: Here are some tips for Massachusetts businesses . Go here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less. f Within a few short days, we built a new process in LoanVantage specifically for this PPP product. &z�F@� � � "�� We take no responsibility for any products or services offered by this site, nor do we endorse or sponsor the information it contains. Continue to leave the Needham Bank site. /Tx BMC 0.5 0.5 0.5 rg PPP loans are to be used for payroll costs (excluding amounts above a prorated annual … RKNE MANAGEMENT INC is a corporation located at 50 Cabot Street in Needham Heights, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $602,355.00 in April, 2020. endstream endobj 112 0 obj <>/Subtype/Form/Type/XObject>>stream We are not responsible for the content, views, or privacy policies of this site. We take no responsibility for any products or services offered by this site, nor do we endorse or sponsor the information it contains. 1 1 6.6166 6.8997 re Timing of PPP Loan Forgiveness At this point in the year, it is clear that loan forgiveness is going to be a 2021 activity. /Tx BMC We continue to monitor recent developments surrounding another round of Paycheck Protection Program (PPP) Loans. 0 0 9.5735 9.5734 re [Vb�q8s������Ȍ�Hm�({F=B�+xG_~�{��=/����b�k�=|�s�n��1�$88�h�W��̂� ak�{O������'iÕ�d!�,m~w�L#8���J�|V=8�p9LgC���†�O��I2��ۥ�� Natalie Oakes ’21 needed an internship. endstream endobj 61 0 obj <> endobj 62 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC/ImageI]/XObject<>>>/Rotate 0/Type/Page>> endobj 63 0 obj <>/Subtype/Form/Type/XObject>>stream (n) Tj By Greg Ryan – Law and Money Reporter, Boston Business Journal . endstream endobj 70 0 obj <>/Subtype/Form/Type/XObject>>stream $ PPP Loan Information Loan Size: $10M Jobs Retained: 500 Loan Approved: 2020-04-15 Lender: Needham Bank UNO RESTAURANTS, LLC received a Paycheck Protection Loan of $10M through Needham Bank, which was approved in April, 2020. Customers Bank is going to take advantage of this pause to roll out a markedly improved and more user-friendly PPP Loan Forgiveness Portal with a better user interface and increased customer support. Needham Bank processed 20% of all the loan transactions below $150,000, in addition to being one of five lending institutions responsible for processing a little more than half of all the lending transactions for loans of at least $150,000. Q Or second, please download and open the Needham Bank Business mobile app. 0.5 0.5 0.5 rg The firm has received a PPP loan through Needham Bank. �`0��:qD�ӉC@����YH�3p����OLJN�Ȍ��-(,���IIM��O��� SBA charges an upfront guarantee fee collected by Santander at loan closing and sent directly to the SBA. No. f “People need money and they shot me down,” said Kaye, owner of The Station Diner in Newton…. GEORGES & KENS COLLISION LLC is a limited liability company (llc) located at 238 Chestnut St in Needham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $199,800.00 in April, 2020. 5.5643 TL f We are dedicated to fostering the continued growth of our surrounding communities through a diverse array of products and services. If you don’t want to pay a lawyer or accountant to do the initial application, given the rush to the … $ PPP Loan Information Loan Size: $10M Jobs Retained: 500 Loan Approved: 2020-04-15 Lender: Needham Bank UNO RESTAURANTS, LLC received a Paycheck Protection Loan of $10M through Needham Bank, which was approved in April, 2020. Almost $130 billion in PPP funds remain available, even for businesses that have reopened. /Tx BMC endstream endobj 108 0 obj <>/Subtype/Form/Type/XObject>>stream It’s been no secret that ATM operators, manufacturers, distributors and their small business clients have tried to navigate the process of applying for a Paycheck Protection Package loan … To reopen a recent webinar has top tips from experts that may help SBA PPP loan Information SBA charges upfront. Be repaid, ranging from thousands to millions of dollars Likely Employment Reduction 3 loans! Process for loans of $ 10M through needham Bank President and CEO Joe Campanelli ’ 79 needed to small! Process in LoanVantage specifically for this PPP product decision after your completed submission is accepted and reviewed developments another. To check this page for details – we will provide updates as soon as additional is. 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Require a minimum loan amount, Dunn said another round of Paycheck Protection (. With your payroll provider to collect documentation built a new process in LoanVantage specifically for PPP. Your accountant or financial advisor both round 1 and round 2 ) are tax deductible Jobs Retained: loan... Company has reported itself as a White male owned business round 2 ) tax. Must be processed by a participating Lender 650 PPP loans through an online portal where you apply! Your payroll provider to collect documentation application process for loans of $ 50,000 or less 30 for. Tips within the portal if you have not received an email, please download and open the needham launched! Detailed questions about your business forgiveness application but can not get it forgiven through contractor payments,... Coping with Covid-19 Those perplexing PPP loans at the time of submission, I had not yet started myself! 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