vuduchile 1,941 Posted April 20, 2020 Trump just said if a company got money that they determine was inappropriate, they’ll get it back. Harvard University is getting $9M. Why exactly? Share this post Link to post Share on other sites
Hardcore troubadour 12,626 Posted April 20, 2020 32 minutes ago, vuduchile said: Trump just said if a company got money that they determine was inappropriate, they’ll get it back. Harvard University is getting $9M. Why exactly? Nice. But what’s inappropriate ? Lots of wiggle room there. Share this post Link to post Share on other sites
Reality 2,710 Posted April 20, 2020 40 minutes ago, vuduchile said: Trump just said if a company got money that they determine was inappropriate, they’ll get it back. Good. Share this post Link to post Share on other sites
vuduchile 1,941 Posted April 20, 2020 26 minutes ago, Hardcore troubadour said: Nice. But what’s inappropriate ? Lots of wiggle room there. Yeah. Just talk right now, but at least the backlash is spreading beyond a low rent message board. Share this post Link to post Share on other sites
Alias Detective 1,179 Posted April 21, 2020 $300,000,000,000 getting added to the PPP Loan Plan https://www.marketwatch.com/story/trump-congress-near-deal-on-coronavirus-aid-as-senate-set-to-reconvene-2020-04-20 Share this post Link to post Share on other sites
Gladiators 1,904 Posted April 21, 2020 33 minutes ago, Alias Detective said: $300,000,000 getting added to the PPP Loan Plan https://www.marketwatch.com/story/trump-congress-near-deal-on-coronavirus-aid-as-senate-set-to-reconvene-2020-04-20 You're missing 3 zeros. Share this post Link to post Share on other sites
Alias Detective 1,179 Posted April 21, 2020 2 hours ago, Gladiators said: You're missing 3 zeros. Sure am. I can’t even fathom that kind of money I guess. Share this post Link to post Share on other sites
vuduchile 1,941 Posted April 21, 2020 Glad they put additional funding in it. Now go get some back from the fraudsters shouldn’t have gotten it in the first round. At least 75 companies that received the aid were publicly traded, the AP found, and some had market values well over $100 million. And 25% of the companies had warned investors months ago — while the economy was humming along — that their ability to remain viable was in question. Several had also had stock buy backs in the last year. Share this post Link to post Share on other sites
Hawkeye21 1,852 Posted April 21, 2020 Anyone hear what the banks are making off of these loans at all. I was told they are making 5% and it comes off the loan to the business. Share this post Link to post Share on other sites
usurpers26 26 Posted April 22, 2020 15 hours ago, Hawkeye21 said: Anyone hear what the banks are making off of these loans at all. I was told they are making 5% and it comes off the loan to the business. No money came off our loan, we got wired the exact amount we were approved for. Share this post Link to post Share on other sites
Hawkeye21 1,852 Posted April 22, 2020 1 minute ago, usurpers26 said: No money came off our loan, we got wired the exact amount we were approved for. Ok. Maybe it's just a rumor then. Share this post Link to post Share on other sites
usurpers26 26 Posted April 22, 2020 2 minutes ago, Hawkeye21 said: Ok. Maybe it's just a rumor then. Yeah. I know they made a big to-do on how there was no "cost" to the borrower (of course we all pay for it in the long run). Who knows what the feds and lenders have worked out on the back end. Share this post Link to post Share on other sites
parrot 789 Posted April 22, 2020 39 minutes ago, usurpers26 said: Yeah. I know they made a big to-do on how there was no "cost" to the borrower (of course we all pay for it in the long run). Who knows what the feds and lenders have worked out on the back end. They are interest-bearing at 1%. I assume that is the bank's cut. And even if you eventually get full forgiveness on the loan principle, the vig is running from day 1 so there will be some interest to be paid. Share this post Link to post Share on other sites
vuduchile 1,941 Posted April 24, 2020 More large chains are returning money. Gotta love how they dress up their press releases to make it sound like they’re just repaying the loan early or are making a decision to help their fellow man https://www.yahoo.com/finance/news/big-companies-ppp-loans-122733200.html Share this post Link to post Share on other sites
Alias Detective 1,179 Posted April 24, 2020 43 minutes ago, vuduchile said: More large chains are returning money. Gotta love how they dress up their press releases to make it sound like they’re just repaying the loan early or are making a decision to help their fellow man https://www.yahoo.com/finance/news/big-companies-ppp-loans-122733200.html Peer Pressure is real Share this post Link to post Share on other sites
vuduchile 1,941 Posted April 26, 2020 Is everyone paying attention yet? Is there anyone here who would have been ok with their tax dollars going to this HOA? How about this, sound familiar? Leticia Miranda NBC NewsApril 25, 2020, 1:47 PM EDT A housing association representing the richest zip code in America was approved to receive a $2 million emergency coronavirus relief loan from the Small Business Administration, despite suffering no layoffs and no apparent financial impact from the coronavirus pandemic. https://www.yahoo.com/news/private-haven-wealthy-received-2m-230139731.html Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted April 28, 2020 Remember Monty Bennett when we look at the thieves who stole from the small businesses that deserved these funds. Good thing we have an independent auditor overseeing the distribution of funds to prevent fraud. Share this post Link to post Share on other sites
Alias Detective 1,179 Posted April 28, 2020 The Lakers. Share this post Link to post Share on other sites
vuduchile 1,941 Posted April 28, 2020 22 hours ago, Alias Detective said: The Lakers. This is the worst yet. Holy sh!t, how are we allowing this? https://www.yahoo.com/finance/m/0352bd38-b6af-3d9b-a08f-b933461019ed/the-nba’s-lakers-worth-4.html Share this post Link to post Share on other sites
vuduchile 1,941 Posted April 28, 2020 22 hours ago, Patriotsfatboy1 said: Remember Monty Bennett when we look at the thieves who stole from the small businesses that deserved these funds. Good thing we have an independent auditor overseeing the distribution of funds to prevent fraud. Another focking joke. Damn. Share this post Link to post Share on other sites
vuduchile 1,941 Posted April 29, 2020 More abuse. This time by tech start ups who’ve already raised millions in private equity. https://www.yahoo.com/news/startups-pursue-free-money-relief-122537721.html Share this post Link to post Share on other sites
nospk 230 Posted April 29, 2020 Anyone hear what GM and FCA are getting? ETA: Ford too? Share this post Link to post Share on other sites
vuduchile 1,941 Posted April 29, 2020 1 minute ago, nospk said: Anyone hear what GM and FCA are getting? ETA: Ford too? Too big to fail again right? Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 3, 2020 On 4/22/2020 at 9:21 AM, Hawkeye21 said: Ok. Maybe it's just a rumor then. Any thoughts on this now? https://www.marketwatch.com/story/small-business-owners-could-face-jail-time-as-doj-launches-investigation-into-coronavirus-loan-program-2020-05-01?siteid=yhoof2&yptr=yahoo But last week the government issued further guidance saying that applicants must exhaust other avenues of liquidity that would enable them to support ongoing operations. “This suggests a more robust analysis than what a lot of folks initially anticipated,” said Adams. “Businesses should do a fresh analysis to understand if they can support this certification before May 7,” a government-set deadline for paying back loans. Share this post Link to post Share on other sites
Hawkeye21 1,852 Posted May 4, 2020 On 5/2/2020 at 7:46 PM, vuduchile said: Any thoughts on this now? https://www.marketwatch.com/story/small-business-owners-could-face-jail-time-as-doj-launches-investigation-into-coronavirus-loan-program-2020-05-01?siteid=yhoof2&yptr=yahoo But last week the government issued further guidance saying that applicants must exhaust other avenues of liquidity that would enable them to support ongoing operations. “This suggests a more robust analysis than what a lot of folks initially anticipated,” said Adams. “Businesses should do a fresh analysis to understand if they can support this certification before May 7,” a government-set deadline for paying back loans. What about it? Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 4, 2020 49 minutes ago, Hawkeye21 said: What about it Give it back. You don’t need it and you’re taking funds from someone who does. Share this post Link to post Share on other sites
Hawkeye21 1,852 Posted May 4, 2020 9 hours ago, vuduchile said: Give it back. You don’t need it and you’re taking funds from someone who does. If we meet the requirements we will keep the money and if we do not meet the requirements then we will pay it back with 1% interest. It's really just that simple. Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 4, 2020 1 minute ago, Hawkeye21 said: If we meet the requirements we will keep the money and if we do not meet the requirements then we will pay it back with 1% interest. It's really just that simple. Definition of require transitive verb 1a: to claim or ask for by right and authority barchaic : REQUEST 2a: to call for as suitable or appropriate the occasion requires formal dress b: to demand as necessary or essential : have a compelling need for all living beings require food Share this post Link to post Share on other sites
Hawkeye21 1,852 Posted May 4, 2020 5 minutes ago, vuduchile said: Definition of require transitive verb 1a: to claim or ask for by right and authority barchaic : REQUEST 2a: to call for as suitable or appropriate the occasion requires formal dress b: to demand as necessary or essential : have a compelling need for all living beings require food Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 4, 2020 On 4/27/2020 at 8:57 PM, Patriotsfatboy1 said: Remember Monty Bennett when we look at the thieves who stole from the small businesses that deserved these funds. Good thing we have an independent auditor overseeing the distribution of funds to prevent fraud. Caved to the pressure. They’re returning the $59M Share this post Link to post Share on other sites
Hawkeye21 1,852 Posted May 5, 2020 We just had to send an employee home because his mom was exposed to people confirmed to have COVID-19 and he was around his mom all weekend. This is the third employee we've sent home for precautionary reasons. Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 5, 2020 On 4/13/2020 at 7:41 PM, vuduchile said: No. My crews are all 1099 contractors, so they’re not on payroll. Still working with landlord to forgive some or all of my rent for whatever time period we’re shut down I applied for the $10K EIDL advance. Also filed for unemployment Sat when they opened that up to self-employed people. Haven’t seen money from either source yet. We received a $1K advance from the SBA EIDL program today. Still waiting on the actual loan details, but it’s a start. I don’t love the idea of taking on debt, but it’s low interest and the first payment is deferred for a year. I just hope biz actually comes back to workable levels before then. Share this post Link to post Share on other sites
edjr 5,556 Posted May 5, 2020 I heard Russians give PP for free Share this post Link to post Share on other sites
Alias Detective 1,179 Posted May 5, 2020 Still nothing here. Share this post Link to post Share on other sites
Hawkeye21 1,852 Posted May 13, 2020 Just found out we have a second employee who may have been exposed to COVID-19 and is now quarantining. I'm glad we got that loan because I doubt these are going to be our only employees that I pay to stay home because of this. Share this post Link to post Share on other sites
Hardcore troubadour 12,626 Posted May 13, 2020 7 minutes ago, Hawkeye21 said: Just found out we have a second employee who may have been exposed to COVID-19 and is now quarantining. I'm glad we got that loan because I doubt these are going to be our only employees that I pay to stay home because of this. Nice try. They can go on unemployment. Share this post Link to post Share on other sites
Hawkeye21 1,852 Posted May 13, 2020 5 minutes ago, Hardcore troubadour said: Nice try. They can go on unemployment. Why would I want my employees to go on unemployment? Share this post Link to post Share on other sites
Hardcore troubadour 12,626 Posted May 13, 2020 2 minutes ago, Hawkeye21 said: Why would I want my employees to go on unemployment? So you don’t have to pay them? Share this post Link to post Share on other sites
Hawkeye21 1,852 Posted May 13, 2020 1 minute ago, Hardcore troubadour said: So you don’t have to pay them? Or I'll pay them until it's ok for him to come back because I can. Concern is growing among my employees and I'm hoping more don't have to stay home. Share this post Link to post Share on other sites
Hardcore troubadour 12,626 Posted May 13, 2020 Just now, Hawkeye21 said: Or I'll pay them until it's ok for him to come back because I can. Concern is growing among my employees and I'm hoping more don't have to stay home. You’re going to pay him with tax payer money. Mighty white of you. Share this post Link to post Share on other sites