Small business owners thread

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BigbadB
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Re: Small business owners thread

Postby BigbadB » Mon Apr 20, 2020 1:38 pm

From what my CPA told me, I can't use the PPP to recoup what I continued giving my employee when we shut down on March 16. It can only be used for the 8 week period after you receive it.
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Re: Small business owners thread

Postby Tim » Mon Apr 20, 2020 2:24 pm

BigbadB wrote:From what my CPA told me, I can't use the PPP to recoup what I continued giving my employee when we shut down on March 16. It can only be used for the 8 week period after you receive it.

Yep - it's pretty much a mess.

Shake Shack is responding to negative publicity about them getting a PPP loan by returning their funds today. In their press release today they said that according to the bill, every major restaurant chain is eligible as long as no *individual* restaurant in the chain has more than 500 employees. What freaking restaurant location has more than 500 people?!?
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Re: Small business owners thread

Postby The Logan » Mon Apr 20, 2020 2:38 pm

BigbadB wrote:
The Logan wrote:
Derwood wrote:
Maybe they have less than 500 employees?


Theyve got 100+ restaurants and over 5000 employees. I did see where they said they got it for two of their subsidiary companies but the parent company website only shows one business, Ruth's Chris, which has thousands of employees.

Reeks of shenanigans.


I'm sure there are different kinds of franchises, but mine is a franchise. I filed on behalf of MY franchise. Our parent company has 300 franchises total. Not sure how the "franchisor" can file unless they are the ones paying all of the employees rather than the franchisee.


That makes more sense
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Re: Small business owners thread

Postby OleMissCub » Tue Apr 21, 2020 5:09 am

Yay....$1,000 just showed up in my account from the 10k EIDL grant.
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Re: Small business owners thread

Postby Ding Dong Johnson » Wed Apr 22, 2020 2:00 pm

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Re: Small business owners thread

Postby Derwood » Wed Apr 22, 2020 2:24 pm

How many of these states are rushing to "re-open" in part to avoid paying out unemployment claims?
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Re: Small business owners thread

Postby squally1313 » Wed Apr 22, 2020 2:44 pm

Derwood wrote:How many of these states are rushing to "re-open" in part to avoid paying out unemployment claims?


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Re: Small business owners thread

Postby The Logan » Wed Apr 22, 2020 3:04 pm

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Re: Small business owners thread

Postby BigbadB » Wed Apr 22, 2020 3:26 pm

OleMissCub wrote:Yay....$1,000 just showed up in my account from the 10k EIDL grant.


Yeah, same happened yesterday for me. I didn't even know it was there. I was actually looking at my balances for another reason.

And I just looked at my business account this am and my PPP loan has been deposited. Yay!
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Re: Small business owners thread

Postby minnesotacubsfan » Wed Apr 22, 2020 5:07 pm

OleMissCub wrote:Yay....$1,000 just showed up in my account from the 10k EIDL grant.



mine showed up yesterday. I haven't pursued any loans as of yet because I have been busier since the stay at home orders than before. I even picked up a new project. I'm not sure how long this will continue tho, I might be on the tail end of the upswing.
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Re: Small business owners thread

Postby CyHawk_Cub » Thu Apr 23, 2020 7:35 pm

I'm not gonna add any quotes from the article. Grab you favorite edibles and read, if you so desire.

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Re: Small business owners thread

Postby Derwood » Thu Apr 23, 2020 7:50 pm

CyHawk_Cub wrote:I'm not gonna add any quotes from the article. Grab you favorite edibles and read, if you so desire.



Let's not forget which party is constantly fighting for the deregulation of banks....
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Re: Small business owners thread

Postby CubinNY » Fri Apr 24, 2020 7:50 pm

I received my PPP money and the $10,000. Now I can pay people not to come to work.
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Re: Small business owners thread

Postby Tim » Fri Apr 24, 2020 8:23 pm

I finally got my $1k. I still haven't heard anything further about the PPP.
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Re: Small business owners thread

Postby Tim » Tue Apr 28, 2020 1:32 am

The mother horsefeathering Lakers got a PPP loan. Meanwhile, I'm still waiting on further word and have received no funding.

The horsefeathering Lakers.
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Re: Small business owners thread

Postby Splendid Splinter » Tue Apr 28, 2020 1:45 am

Tim wrote:The mother horsefeathering Lakers got a PPP loan. Meanwhile, I'm still waiting on further word and have received no funding.

The horsefeathering Lakers.


They did, but they also gave it back from what I've read. It's just amazing how easy all these big/profitable/etc. companies are able to apply/accept/receive/etc. from these loans. I wish these companies would have some common sense and be like "other ppl need this more than we do" instead of "FREE MONEY! LET'S GET AS MUCH AS WE CAN!"

It's mind boggling.
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Re: Small business owners thread

Postby Tim » Tue Apr 28, 2020 1:55 am

Splendid Splinter wrote:
Tim wrote:The mother horsefeathering Lakers got a PPP loan. Meanwhile, I'm still waiting on further word and have received no funding.

The horsefeathering Lakers.


They did, but they also gave it back from what I've read. It's just amazing how easy all these big/profitable/etc. companies are able to apply/accept/receive/etc. from these loans. I wish these companies would have some common sense and be like "other ppl need this more than we do" instead of "FREE MONEY! LET'S GET AS MUCH AS WE CAN!"

It's mind boggling.

Sure - they gave it back after people found out about it. Otherwise you know they would have kept it.
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Re: Small business owners thread

Postby Splendid Splinter » Tue Apr 28, 2020 2:33 am

Tim wrote:
Splendid Splinter wrote:
Tim wrote:The mother horsefeathering Lakers got a PPP loan. Meanwhile, I'm still waiting on further word and have received no funding.

The horsefeathering Lakers.


They did, but they also gave it back from what I've read. It's just amazing how easy all these big/profitable/etc. companies are able to apply/accept/receive/etc. from these loans. I wish these companies would have some common sense and be like "other ppl need this more than we do" instead of "FREE MONEY! LET'S GET AS MUCH AS WE CAN!"

It's mind boggling.

Sure - they gave it back after people found out about it. Otherwise you know they would have kept it.


Pretty sure there's a few companies and universities that are still keeping the money even after people found out about it. Oh I know all of them would've kept it, but at least some of them are doing the right thing.

My issue is just how easily these companies was able to get these loans that have no business to even be applying for it meanwhile the ppl who really needs it, it's a horsefeathers show to go through the process. I have friends that are like you who are still waiting and haven't recieved anything.
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Re: Small business owners thread

Postby Tim » Tue Apr 28, 2020 2:49 am

Splendid Splinter wrote:
Tim wrote:
Splendid Splinter wrote:
They did, but they also gave it back from what I've read. It's just amazing how easy all these big/profitable/etc. companies are able to apply/accept/receive/etc. from these loans. I wish these companies would have some common sense and be like "other ppl need this more than we do" instead of "FREE MONEY! LET'S GET AS MUCH AS WE CAN!"

It's mind boggling.

Sure - they gave it back after people found out about it. Otherwise you know they would have kept it.


Pretty sure there's a few companies and universities that are still keeping the money even after people found out about it. Oh I know all of them would've kept it, but at least some of them are doing the right thing.

My issue is just how easily these companies was able to get these loans that have no business to even be applying for it meanwhile the ppl who really needs it, it's a horsefeathers show to go through the process. I have friends that are like you who are still waiting and haven't recieved anything.

Yeah, it's obvious that the people with the best relationships with the banks got prioritized. I submitted my PPP within the first few hours on the first day.
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Re: Small business owners thread

Postby SeldomSeen » Tue Apr 28, 2020 6:28 pm

I still haven't heard squat on the EIDL advance. I applied 4/1.

April fools?
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Re: Small business owners thread

Postby Tim » Tue Apr 28, 2020 7:55 pm

SeldomSeen wrote:I still haven't heard squat on the EIDL advance. I applied 4/1.

April fools?

Are you talking about the loan or the $10K grant up front? I finally got my ($1K) grant a few days ago after applying at the end of March. Hopefully they're getting caught up.

I haven't heard anything about the loan portion of it, though.
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Re: Small business owners thread

Postby SeldomSeen » Wed Apr 29, 2020 5:44 pm

Tim wrote:
SeldomSeen wrote:I still haven't heard squat on the EIDL advance. I applied 4/1.

April fools?

Are you talking about the loan or the $10K grant up front? I finally got my ($1K) grant a few days ago after applying at the end of March. Hopefully they're getting caught up.

I haven't heard anything about the loan portion of it, though.

I applied for the grant. Not a peep since the notification that the $10k was now $1,000 per employee.
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Re: Small business owners thread

Postby Tim » Wed Apr 29, 2020 5:47 pm

SeldomSeen wrote:
Tim wrote:
SeldomSeen wrote:I still haven't heard squat on the EIDL advance. I applied 4/1.

April fools?

Are you talking about the loan or the $10K grant up front? I finally got my ($1K) grant a few days ago after applying at the end of March. Hopefully they're getting caught up.

I haven't heard anything about the loan portion of it, though.

I applied for the grant. Not a peep since the notification that the $10k was now $1,000 per employee.

The whole thing is a cluster horsefeathers.
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Re: Small business owners thread

Postby The Logan » Wed Apr 29, 2020 6:58 pm

If you want an accountability list of all the publicly traded companies that took PPP loan money, here's a website dedicated to exactly that:

https://www.trumpbailouts.org/
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Re: Small business owners thread

Postby Tim » Wed Apr 29, 2020 8:19 pm

The Logan wrote:If you want an accountability list of all the publicly traded companies that took PPP loan money, here's a website dedicated to exactly that:

https://www.trumpbailouts.org/

I'm not sure I want to rage that much.
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