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Forum
-> Household Management
-> Finances
amother
OP
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Thu, Jun 01 2023, 6:14 pm
My SIL has a small business. During COVID she kept it running and paid her employees, and got the PPP loans. Now she told me there's another program to pay businesses that stayed open and didn't lay people off. Apparenlty the process for this application is very long and intricate. She is planning to pay somebody to prep the application for her, and he gets some % of whatever they are paid. She's not giving him any of her personal info, but I think he might see payroll records, etc, with perhaps the TIN and employee SSNs. The money is supposedly goign to be deposited into her account, and she'll pay him--he won't have her bank info.
She is smart and savvy, but this one sounds weird to me and I'm concerned.
Has anybody else come across anything like this?
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amother
DarkRed
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Thu, Jun 01 2023, 6:33 pm
My nephew works for a company that does this. Apparently it's legit, but like you said, the application process is very complicated. These companies prepare the entire thing, which can take up to a month of work, in return for a percentage of the grant.
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groovy1224
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Thu, Jun 01 2023, 6:33 pm
Sounds like you are talking about the employee retention credit, which is legitimate. AFAIK, there is no reason for him to need employee socials though. But payroll records, yes, as you need to demonstrate you did not lay off employees during the subject time period. She should get references on this guy before working with him, but on the surface this doesn't sound particularly shady. (Except for needing employees socials, but it doesn't sound like you were sure about that part)
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amother
Burlywood
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Thu, Jun 01 2023, 7:24 pm
Yup its called ERTC. Gotta love our government
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amother
Blueberry
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Thu, Jun 01 2023, 8:41 pm
I hear now the govt is investigating all the ppp loans.
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adina90
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Fri, Jun 02 2023, 12:56 am
I would use this frum company. Employee.credit
They are known to be the most affordable - and have lawyers which is very important!...9 if he doesn’t want a problem later on down the line. Email the guy there ari@employee.credit
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honey
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Sun, Jun 04 2023, 10:16 pm
yup this is what we do,
I'm with Reindeer Consultants and we help businesses get back alot.. this is based on business distruptions in 2020 and 2021.
They are considered experts in this field, feel free to dm me directly if you have any questions.
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