PPP Loan

[Hawkeye21 1,854]

Just now, Hardcore troubadour said:

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

If you were given the chance to proactively protect yourself, would you? 

Are you going to accept the stimulus check?

[usurpers26 26]

17 minutes ago, Hardcore troubadour said:

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

Of course not.

[vuduchile 1,941]

28 minutes ago, usurpers26 said:

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.


 

Then let them apply for and receive the money WHEN they are actually impacted.  Why is that so hard to understand?

 

36 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.

It's not technically a loan when most, if not all of it is forgivable.  The program's primary intent is to keep employees on the payroll during the COVID crisis.  If you can show that you spent the half mil on payroll during that time, it will be forgiven.  

But you shouldn't be taking this money to fund your payroll unless you've truly lost measurable sales and revenues directly because of COVID.  If that happens to you at some point, apply for assistance then. 

I don't know how many different ways I can say this.  What you're doing is flat out wrong.  It just is. 

[Hardcore troubadour 12,646]

58 minutes ago, Hawkeye21 said:

If you were given the chance to proactively protect yourself, would you? 

Are you going to accept the stimulus check?

I don’t have a choice. I didn’t apply for it.  But if they said I couldn’t have it I would have no problem. Plus I lost income because of this. You haven’t. 

[Hawkeye21 1,854]

2 hours ago, vuduchile said:

Then let them apply for and receive the money WHEN they are actually impacted.  Why is that so hard to understand?

 

It's not technically a loan when most, if not all of it is forgivable.  The program's primary intent is to keep employees on the payroll during the COVID crisis.  If you can show that you spent the half mil on payroll during that time, it will be forgiven.  

But you shouldn't be taking this money to fund your payroll unless you've truly lost measurable sales and revenues directly because of COVID.  If that happens to you at some point, apply for assistance then. 

I don't know how many different ways I can say this.  What you're doing is flat out wrong.  It just is. 

That's your opinion.  It just is.

[parrot 789]

I just received the proceeds of our second loan.  Our bank has heard - not sure how officially -  that funding will run out some time today.  

[Alias Detective 1,179]

4 hours ago, vuduchile said:

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.  

 

Your a wine bag.  You chose not to take the PPP loan.  That’s is your fault. 
 

[Alias Detective 1,179]

14 minutes ago, parrot said:

I just received the proceeds of our second loan.  Our bank has heard - not sure how officially -  that funding will run out some time today.  

Fake News.  Not one Indy contractor or gig worker or self employed person gets money.  You a fool.

[vuduchile 1,941]

2 hours ago, parrot said:

I just received the proceeds of our second loan.  Our bank has heard - not sure how officially -  that funding will run out some time today.  

Yep. Scrolling the same on the news now. All the money’s gone. 
 

Trump is saying in the presser that the program has been so good that it’s almost depleted.  He wants to add more to it but says the dems won’t agree.  

[vuduchile 1,941]

1 hour ago, Alias Detective said:

Your a wine bag.  You chose not to take the PPP loan.  That’s is your fault. 
 

We chose not to take the PPP because we don’t need it.  A few weeks of unemployment comp, a stimulus check, my wife’s income and our savings will see us through.   Throw in a couple grand if we get some EIDL and we’ll survive this crisis. 

But if most of the local restaurants and hospitality businesses in my area can’t make it to the other side of this, then our entire local economy, including my biz, will be toast.   

Talk about the cure being worse than the virus, the cost of the poor implementation and mismanagement of this program could be exactly that. 

There’s a concept called big picture.  Look into it.  
 

 

 

 

[fandandy 3,311]

My payroll is not large enough to have even bothered with it plus I stopped scheduling the employees I had weeks ago.  What I don't understand, scrolling through this thread, how are some of you getting half a million-dollar loans for 2 plus months of wages?  What am I missing?  

[Gladiators 1,904]

17 minutes ago, fandandy said:

My payroll is not large enough to have even bothered with it plus I stopped scheduling the employees I had weeks ago.  What I don't understand, scrolling through this thread, how are some of you getting half a million-dollar loans for 2 plus months of wages?  What am I missing?  

T's and P's

You are not GC worthy.

[Alias Detective 1,179]

13 hours ago, fandandy said:

My payroll is not large enough to have even bothered with it plus I stopped scheduling the employees I had weeks ago.  What I don't understand, scrolling through this thread, how are some of you getting half a million-dollar loans for 2 plus months of wages?  What am I missing?  

Aren’t you on your payroll?

[Hawkeye21 1,854]

13 hours ago, fandandy said:

My payroll is not large enough to have even bothered with it plus I stopped scheduling the employees I had weeks ago.  What I don't understand, scrolling through this thread, how are some of you getting half a million-dollar loans for 2 plus months of wages?  What am I missing?  

Some of us have large payrolls.

[Alias Detective 1,179]

22 hours ago, Hawkeye21 said:

We have 35 employees.

With average annual income over $50,000.  Nice business.

[Hawkeye21 1,854]

1 minute ago, Alias Detective said:

With average annual income over $50,000.  Nice business.

Mechanics can make a lot of money.  About a third of our employees make more than me in a year.

[parrot 789]

14 hours ago, fandandy said:

My payroll is not large enough to have even bothered with it plus I stopped scheduling the employees I had weeks ago.  What I don't understand, scrolling through this thread, how are some of you getting half a million-dollar loans for 2 plus months of wages?  What am I missing?  

We got $420k for a 60 person payroll.  

60 ish employees x 160 hours per month = 9,600 man hours per month.  9,600 x 2.5 months = 24,000 total man hours.  $420,000/24,000 = $17.50 per hour on average inclusive of all bennies.  Not hard at all.  

[vuduchile 1,941]

The PPP has officially run out of money.  Unless congress can agree to add more funds, lots of businesses could be left in the dust.  

[Alias Detective 1,179]

9 minutes ago, vuduchile said:

The PPP has officially run out of money.  Unless congress can agree to add more funds, lots of businesses could be left in the dust.  

They’ll agree.  It’s a matter of when and what the conservatives will need to give up to help us.

[Cdub100 3,380]

Sorry losers, the state is going to keep everything shut down and the Dems in Washington won't add more money to PPP.  They want you to suffer and need them.

[Reality 2,710]

1 hour ago, vuduchile said:

The PPP has officially run out of money.  Unless congress can agree to add more funds, lots of businesses could be left in the dust.  

It's too bad, I wish more was done to make sure the companies that got the handout actually needed it. Hopefully there will be some strenuous investigation down the road into the companies that got the money. 

[Hawkeye21 1,854]

Just now, Reality said:

It's too bad, I wish more was done to make sure the companies that got the handout actually needed it. Hopefully there will be some strenuous investigation down the road into the companies that got the money. 

What type of strenuous investigation?

[Reality 2,710]

Just now, Hawkeye21 said:

What type of strenuous investigation?

Pretty self-explanatory, was the money actually needed. Did the business have to close, was traffic actually down, were employees unavailable, etc. Common sense type of stuff. 

[Hawkeye21 1,854]

1 minute ago, Reality said:

Pretty self-explanatory, was the money actually needed. Did the business have to close, was traffic actually down, were employees unavailable, etc. Common sense type of stuff. 

Would they just be doing that for research for future use?

[Reality 2,710]

Just now, Hawkeye21 said:

Would they just be doing that for research for future use?

I wouldn't think so, it should determine if the loan is forgiven or not.

[Hawkeye21 1,854]

Just now, Reality said:

I wouldn't think so, it should determine if the loan is forgiven or not.

I don't think they can do that after already giving them out.  Those weren't in the stipulations.

[vuduchile 1,941]

9 minutes ago, Hawkeye21 said:

What type of strenuous investigation?

The kind that ends up focking you square in the ass.  
 

I just heard on the radio that Iowa doesn’t even have a stay at home order in place.  
 

None.  Nada.  WTF?

[vuduchile 1,941]

10 minutes ago, Reality said:

It's too bad, I wish more was done to make sure the companies that got the handout actually needed it. Hopefully there will be some strenuous investigation down the road into the companies that got the money. 

Wishful thinking, but our govt entities aren’t known for being all that efficient.  

[Hawkeye21 1,854]

1 minute ago, vuduchile said:

The kind that ends up focking you square in the ass.  

No.  I know you want it to but it doesn't.

[Reality 2,710]

3 minutes ago, vuduchile said:

The kind that ends up focking you square in the ass.  
 

I just heard on the radio that Iowa doesn’t even have a stay at home order in place.  
 

None.  Nada.  WTF?

Wow.. Is that correct? Unreal.

[Hawkeye21 1,854]

1 minute ago, Reality said:

Wow.. Is that correct? Unreal.

We are one of 6 states that do not have an official stay-at-home order.  I don't know what that would change for us though as we would still be open and busy.

[vuduchile 1,941]

3 minutes ago, Reality said:

Wow.. Is that correct? Unreal.

Yep.   I immediately thought of this thread and Hawkeye’s company when I heard it.  
 

This guy is taking a half million bucks of taxpayer money when their state isn’t even on lock down and likely never will be.  
 

 

[Reality 2,710]

Just now, vuduchile said:

Yep.   I immediately thought of this thread and Hawkeye’s company when I heard it.  
 

This guy is taking a half million bucks of taxpayer money when their state isn’t even on lock down and will likely never be.  
 

 

I'm not even sure what to say.... 

[Gladiators 1,904]

2 minutes ago, Reality said:

Wow.. Is that correct? Unreal.

End of the day, doesn’t much matter if they’re not having the issues of spreading like other states. That said, I have no idea if Iowa is shut down.

[vuduchile 1,941]

2 minutes ago, Hawkeye21 said:

I don't know what that would change for us though as we would still be open and busy.

There it is in a nutshell.  Your company is not currently suffering a loss nor do you believe it would if you were shut down.  So why do you need money to cover your payroll for 2.5 months?

[Hawkeye21 1,854]

3 minutes ago, vuduchile said:

Yep.   I immediately thought of this thread and Hawkeye’s company when I heard it.  
 

This guy is taking a half million bucks of taxpayer money when their state isn’t even on lock down and likely never will be.  
 

 

Explain to me what the difference would be if Iowa had a stay-at-home order or not.

[Alias Detective 1,179]

2 minutes ago, vuduchile said:

Yep.   I immediately thought of this thread and Hawkeye’s company when I heard it.  
 

This guy is taking a half million bucks of taxpayer money when their state isn’t even on lock down and will likely never be.  
 

 

That’s kinda Focked up.  i am forbidden from meeting ANYONE face to face and am under a stay at home order.  I got zip zero zilch as an independent contractor.

[Hawkeye21 1,854]

Just now, vuduchile said:

There it is in a nutshell.  Your company is not currently suffering a loss nor do you believe it would if you were shut down.  So why do you need money to cover your payroll for 2.5 months?

I've already explained on here why we did it.  You can go back and read it again.

[Hawkeye21 1,854]

1 minute ago, Alias Detective said:

That’s kinda Focked up.  i am forbidden from meeting ANYONE face to face and am under a stay at home order.  I got zip zero zilch as an independent contractor.

Regardless if we were on lock down, we would still have to be open to serve the farmers who are getting ready to plant.  It changes nothing for my business.

[Reality 2,710]

Just now, Hawkeye21 said:

Regardless if we were on lock down, we would still have to be open to serve the farmers who are getting ready to plant.  It changes nothing for my business.

I can't even with this dude..