Jump to content

Recommended Posts

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
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
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
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
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

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

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
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
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
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
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
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

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

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
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

Anyone hear what GM and FCA are getting? 
ETA: Ford too?

Share this post


Link to post
Share on other sites
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
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
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
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
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
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
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
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

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
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

I heard Russians give PP for free

Share this post


Link to post
Share on other sites

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
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
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
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
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
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

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

×