Jump to content
usurpers26

PPP Loan

Recommended Posts

I believe the White House has already stated that they would provide additional funds if the $350 billion runs out.  Nothing guaranteed but there could be more money available.

Share this post


Link to post
Share on other sites
10 minutes ago, Hawkeye21 said:

You don't think I see the difference?  We are a business that qualifies for this loan so we are going to use it.  We are being proactive and not reactive.  We could very easily be forced to close by the next week if we start having employees testing positive.

All businesses that qualify for the loan should be applying for it.

that's the thing...one positive test and we're done.

Share this post


Link to post
Share on other sites
7 minutes ago, vuduchile said:

I don't think that's a fair comparison.  There was a finite dollar amount attached to the PPP program nationwide.   I don't think companies that don't need it should be using it.  There should be some measures in place to prove you suffered or will suffer a loss due to COVID in order to qualify.  

 

If you didn't take the loan because you didn't think you would be impacted, and the money runs out before you realize you did in fact need it, then what?

Share this post


Link to post
Share on other sites
Just now, porkbutt said:

that's the thing...one positive test and we're done.

Exactly.  Why wouldn't we protect our business and employees when the opportunity is there?

Share this post


Link to post
Share on other sites
14 minutes ago, Hawkeye21 said:

You don't think I see the difference?  We are a business that qualifies for this loan so we are going to use it.  We are being proactive and not reactive.  We could very easily be forced to close by the next week if we start having employees testing positive.

All businesses that qualify for the loan should be applying for it.

I understand the what ifs but your governor has not forced you to close. You have been operating business as usual the entire time, and have no need to lay anyone off at this time.  That could change, and help should be made available if and when that happens.  

But the limited funds available from this program should be used by companies in need as of right now.  That's a major flaw of the program.  As of today, it's free money available, whether you need it or not.  Get in line, first come, first serve.  

These funds should be have been distributed on an as needed basis.  This would not have been hard to do, and would have ensured that money got into the hands of the people who actually needed it in real time.  If and when that fund was exhausted and more companies were forced to shutter or the virus spread rampantly to different states, another round of funding could be made available.  

 

Share this post


Link to post
Share on other sites
Just now, Gladiators said:

If you didn't take the loan because you didn't think you would be impacted, and the money runs out before you realize you did in fact need it, then what?

💩

Share this post


Link to post
Share on other sites
Just now, vuduchile said:

I understand being the what ifs but your governor has not forced you to close. You have been operating business as usual the entire time, and have no need to lay anyone off at this time.  That could change, and help should be made available if and when that happens.  

But the limited funds available from this program should be used by companies in need as of right now.  That's a major flaw of the program.  As of today, it's free money available, whether you need it or not.  Get in line, first come, first serve.  

These funds should be have been distributed on an as needed basis.  This would not have been hard to do, and would have ensured that money got into the hands of the people who actually needed it in real time.  If and when, that fund was exhausted and more companies were forced to shutter or the virus spread rampantly to different states, another round of funding could be made available.  

 

Voice your concerns to our government then, not me.

Share this post


Link to post
Share on other sites
45 minutes ago, Hawkeye21 said:

Three of the five owners are working and collecting a salary.

Three? 

Share this post


Link to post
Share on other sites

Completely non-impacted businesses getting handouts. Things might get interesting when it comes time for said loans to be forgiven...

Share this post


Link to post
Share on other sites
1 minute ago, Reality said:

Completely non-impacted businesses getting handouts. Things might get interesting when it comes time for said loans to be forgiven...

It could get ugly.  How do you determine how much a business is impacted?

Share this post


Link to post
Share on other sites
1 minute ago, Hawkeye21 said:

Voice your concerns to our government then, not me.

That's a cop out.  You're taking a half million dollar hand out from joe taxpayer when you have no need for it.  

Will you give all the money back if you continue biz as usual and never have to lay anyone off because of COVID?

 

Share this post


Link to post
Share on other sites
2 minutes ago, Hardcore troubadour said:

Three? 

Yeah.  My dad and uncle are retired but still own shares.  They are gradually selling back shares.

Share this post


Link to post
Share on other sites
3 minutes ago, Reality said:

Completely non-impacted businesses getting handouts. Things might get interesting when it comes time for said loans to be forgiven...

They are to be forgiven if the criteria is met or pay back at 1%.

Share this post


Link to post
Share on other sites
1 minute ago, vuduchile said:

That's a cop out.  You're taking a half million dollar hand out from joe taxpayer when you have no need for it.  

Will you give all the money back if you continue biz as usual and never have to lay anyone off because of COVID?

 

We pay our fair share of taxes as well.  We're not doing anything wrong.

Share this post


Link to post
Share on other sites
2 minutes ago, Reality said:

Completely non-impacted businesses getting handouts. Things might get interesting when it comes time for said loans to be forgiven...

 

Just now, Gladiators said:

It could get ugly.  How do you determine how much a business is impacted?

Here's a start:

1.  Were you forced to close by the gov?

2. What are you sales and profits this year compared to last year for this time period?

3.  How many employees got COVID, had to care for a relative who had COVID or had to care for children who had nowhere else to go during this time period?

 

Share this post


Link to post
Share on other sites
Just now, Hawkeye21 said:

We pay our fair share of taxes as well.  We're not doing anything wrong.

You’re not doing anything illegal. Morals have nothing to do with the law.  Congratulations, you’re not breaking the law. 

Share this post


Link to post
Share on other sites
Just now, vuduchile said:

 

Here's a start:

1.  Were you forced to close by the gov?

2. What are you sales and profits this year compared to last year for this time period?

3.  How many employees got COVID, had to care for a relative who had COVID or had to care for children who had nowhere else to go during this time period?

 

That's certainly a start, but the impacts may be over many months or a few years.

Share this post


Link to post
Share on other sites
1 minute ago, Hardcore troubadour said:

You’re not doing anything illegal. Morals have nothing to do with the law.  Congratulations, you’re not breaking the law. 

I don't believe we are doing anything morally wrong either.  If others think we are, then so be it.

Share this post


Link to post
Share on other sites
4 minutes ago, Hawkeye21 said:

We pay our fair share of taxes as well.  We're not doing anything wrong.

So when absolutely no changes are made to your biz as a result of COVID, you get an automatic half million added straight to your bottom line.  Nice work if you can get it.  Enjoy your $100K bonus.

 

Share this post


Link to post
Share on other sites
1 minute ago, vuduchile said:

So when absolutely no changes are made to your biz as a result of COVID, you get an automatic half million added straight to your bottom line.  Nice work if you can get it.  

 

It will help pay off our other loan then.  It cost a LOT of money to maintain the inventory we're required to have in order to stay in business.

Share this post


Link to post
Share on other sites
5 minutes ago, Hawkeye21 said:

We pay our fair share of taxes as well.  We're not doing anything wrong.

I pay my unfair share. Because of waste like this. 

Share this post


Link to post
Share on other sites
Just now, Hardcore troubadour said:

I pay my unfair share. Because of waste like this. 

That's your opinion.

Share this post


Link to post
Share on other sites
3 minutes ago, Hawkeye21 said:

It will help pay off our other loan then.  It cost a LOT of money to maintain the inventory we're required to have in order to stay in business.

Paying for inventory is a cost of doing business in any environment.  How did COVID impact your inventory levels exactly?

Share this post


Link to post
Share on other sites
7 minutes ago, Gladiators said:

That's certainly a start, but the impacts may be over many months or a few years.

That's a good point and it's hard to tell which industries might be hit hardest when the dust settles.  But again, I would prefer to see a program that addresses those needs as they happen.  This PPP program has been set up to allow rampant abuse and the company in question in this thread is just the tip of the iceberg.

Share this post


Link to post
Share on other sites

Just like last time. Wall Street got thrown money and gave themselves bonuses.  Now it’s businesses.  The unemployment rate better get back to where it was then. 

Share this post


Link to post
Share on other sites
2 minutes ago, vuduchile said:

Paying for inventory is a cost of doing business in any environment.  How did COVID impact your inventory levels exactly?

It hasn't so far and I never implied that it did.  I won't know for sure how COVID has affected my business for another month or two when I can look at and compare our financials.

Share this post


Link to post
Share on other sites
3 minutes ago, vuduchile said:

That's a good point and it's hard to tell which industries might be hit hardest when the dust settles.  But again, I would prefer to see a program that addresses those needs as they happen.  This PPP program has been set up to allow rampant abuse and the company in question in this thread is just the tip of the iceberg.

I agree.  In the interest of time, the program was developed without a lot of thought/details worked through.

  • Like 1

Share this post


Link to post
Share on other sites
17 minutes ago, vuduchile said:

So when absolutely no changes are made to your biz as a result of COVID, you get an automatic half million added straight to your bottom line.  Nice work if you can get it.  Enjoy your $100K bonus.

 


What business owner in times like these - which one could say - are unprecedented wouldn't want to be proactive?

I fail to see the "hate" behind Hawks decision other than proclaiming some moral superiority.

  • Like 1

Share this post


Link to post
Share on other sites
1 minute ago, usurpers26 said:


What business owner in times like these - which one could say - are unprecedented wouldn't want to be proactive?

I fail to see the "hate" behind Hawks decision other than proclaiming some moral superiority.

Yeah, who needs morals when there’s free money to be had. 

Share this post


Link to post
Share on other sites
Just now, Hardcore troubadour said:

Yeah, who needs morals when there’s free money to be had. 

Once again, that's just your opinion.

Share this post


Link to post
Share on other sites
Just now, Hardcore troubadour said:

Yeah, who needs morals when there’s free money to be had. 

Are you a business owner?  If so, you can run it how you see fit.  If not, it's easy to throw stones at other people's decisions.

Share this post


Link to post
Share on other sites

FWIW... I told my wife that her practice shouldn't take that money. They will but I'm opposed to it. They have not seen some massive drop in business. People are still having babies. They don't need this money, we dont need it. 

 If your business is not affected I don't agree that you should be taking government money. I'm not upset but people will justify pretty much anything they do.

  • Like 1

Share this post


Link to post
Share on other sites
15 minutes ago, usurpers26 said:


What business owner in times like these - which one could say - are unprecedented wouldn't want to be proactive?

I fail to see the "hate" behind Hawks decision other than proclaiming some moral superiority.

I don't claim to be morally superior and that's not my point.   If every company of this size takes a half million dollar handout when they haven't been impacted, where does that leave us? 

It doesn't take that much effort to create a program for effected businesses when they need it.  There should also be measures in place to make the biz owner demonstrate an actual financial loss in order to receive assistance.

This is just wasting taxpayer money and lining the pockets of people who were not actually impacted.  It's short-sighted and wasteful.  

 

Share this post


Link to post
Share on other sites
2 minutes ago, cyclone24 said:

FWIW... I told my wife that her practice shouldn't take that money. They will but I'm opposed to it. They have not seen some massive drop in business. People are still having babies. They don't need this money, we dont need it. 

 If your business is not affected I don't agree that you should be taking government money. I'm not upset but people will justify pretty much anything they do.

This.  

3 minutes ago, vuduchile said:

I don't claim to be morally superior and that's not my point.   If every company of this size takes a half million dollar handout when they haven't been impacted, where does that leave us? 

It doesn't take that much effort to create a program for effected businesses when they need it.  There should also be measures in place to make the biz owner demonstrate an actual financial loss in order to receive assistance.

This is just wasting taxpayer money and lining the pockets of people who were not actually impacted.  It's short-sighted and wasteful.  

 

Also this.

Share this post


Link to post
Share on other sites
27 minutes ago, usurpers26 said:

Are you a business owner?  If so, you can run it how you see fit.  If not, it's easy to throw stones at other people's decisions.

I have no issue with businesses affected by this getting aid. Keep your business going, pay your people. Is that throwing stones ? 

Share this post


Link to post
Share on other sites
6 minutes ago, cyclone24 said:

FWIW... I told my wife that her practice shouldn't take that money. They will but I'm opposed to it. They have not seen some massive drop in business. People are still having babies. They don't need this money, we dont need it. 

 If your business is not affected I don't agree that you should be taking government money. I'm not upset but people will justify pretty much anything they do.

Thanks for you input.  I think you were the one who said this would be a sh!tshow, and now here we are. 

In this thread alone, we know of a million dollars of taxpayer money being wasted via this PPP.  

 

Share this post


Link to post
Share on other sites

This must be terribly frustrating for liberals not being able to call people questioning this or pissed off about it racist like they do when you question welfare.  

Share this post


Link to post
Share on other sites
1 minute ago, vuduchile said:

Thanks for you input.  I think you were the one who said this would be a sh!tshow, and now here we are. 

In this thread alone, we know of a million dollars of taxpayer money being wasted via this PPP.  

 

You have absolutely zero idea if it's being wasted or not.  ZERO.  We have not received the money yet and we don't know how we are going to be affected by the virus long term

When this is all over with and we were not affected in any way then I would feel guilty about taking the loan because we didn't end up needing it.  I would not regret doing it though because keeping my employees paid and serving our farmers is my top priority.  I won't regret making smart business choices.

Share this post


Link to post
Share on other sites
5 minutes ago, Hawkeye21 said:

You have absolutely zero idea if it's being wasted or not.  ZERO.  We have not received the money yet and we don't know how we are going to be affected by the virus long term

When this is all over with and we were not affected in any way then I would feel guilty about taking the loan because we didn't end up needing it.  I would not regret doing it though because keeping my employees paid and serving our farmers is my top priority.  I won't regret making smart business choices.

I don’t know how I’m going to be affected either. 

Share this post


Link to post
Share on other sites
6 minutes ago, vuduchile said:

I don't claim to be morally superior and that's not my point.   If every company of this size takes a half million dollar handout when they haven't been impacted, where does that leave us? 

It doesn't take that much effort to create a program for effected businesses when they need it.  There should also be measures in place to make the biz owner demonstrate an actual financial loss in order to receive assistance.

This is just wasting taxpayer money and lining the pockets of people who were not actually impacted.  It's short-sighted and wasteful.  

 

I suppose its the inference that everyone who isn't in dire need right this second is "lining their pockets" and taking "100k bonuses" is what gets me.  Things can change very quickly and I would think any business owner would rather be safe than sorry.  The requirements surely should have and could have been better defined.


 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×