Has anyone actually received PPP funds or any other type of SBA loan funds to save their small businesses.

[obk]

Got one, but had to go through a local branch to get it. Looks like it's all set to be forgiven as well. Allowed us to avoid having to let anybody go earlier in the year - might have made due without it, but I think it would have gotten ugly. Still waiting to see if things actually improve or that was just a way to delay a lot of pain. Chase strung us along with "oh you're top of our list!" on the first round of applications and kept bullshitting about issues they were running into until we cut the cord and went elsewhere. Local bank took care of things easy and were straight forward through all of it.

The eligibility requirements were crap and screwed over a lot of actually small businesses. So many of the larger companies that got loans had way more ability to take a hit than folks employing a handful of people that weren't eligible.

 

[BullGear]

Not a small business by any means, but I know of a multimillion dollar company who somehow qualified for PPP money and got it. I don't know how much, but I can't see how they qualified fo it.

 

[Vodoun daVinci]

Not a small business by any means, but I know of a multimillion dollar company who somehow qualified for PPP money and got it. I don't know how much, but I can't see how they qualified fo it.

The company I work for had about 600+ employees April 1 and found out there was PPP money to be had soon( they are a cash only business and will not borrow nor tolerate debt) but that the money was only to be available to companies with less than 500 employees. They promptly fired/laid off enough people (180) to get below 500. They tossed anyone and everyone with no regard like flaming sacks of shit and *then* got $3.8 *million* to guarantee they wouldn't fire/lay anyone off after the fact. No Plan - no shit. The Government paid them to dump 180 people and then told them as long as they didn't fire anyone after they got the money they didn't have to repay the "loan".

I was one of the 180 and was tossed into a System that was Failed - Took me weeks to get any money flowing and get my COBRA cooking (at $1200 a month!) and then they forced all their salaried employees to cover our jobs under the threat that they'd be out the door if they didn't tote the load. I'm back at work now but will leave them/fuck them in a second. They made millions to dump me like a hot rock and my retirement (I'm 64) will be compromised the rest of my Life but the Millionaires who get rich on my labor and expertise think I'm "lucky" to have a job.

And meanwhile we can't seem to help the 30 million still unemployed but we are considering another round of money for these fuckers (these are *my* fucking tax dollars!!) so they can exploit and fuck their employees. How do I know this? My State Senator wants me to testify and help them put the CEO *In Jail* for this fraud and exploitation and .Gov is seriously wanting to root the fuckers out and fine/jail them for the Billions that have been paid out to cheaters. I'm not cooperating yet as I just want to work another 2 years and slide quietly into retirement but the arrogance and cheating of our Corporate Officers has me wanting revenge. I'm fucked anyway - love to see a multimillionaire cheating asshole go to jail and if it costs me a few hundred $ a month in retirement?

Not sure I'd not rather have the revenge at this point and see the CEO have to pay it back and go to jail to boot.

VooDoo

 

[TheGerman]

After everything was said and done, all of the bullshit calls, the hurry up and wait, the 4 hour SBA hold times.....I got 1k.

Thats it.

The funny thing was, I was approved for another 1k on the second business and after getting calls to 'verify my info' and leaving 73 voicemails, it never materialized.

Complete joke.

The irony though is, we merged the 2 businesses into 1, and the 1 that got the 'loan' is the one we let go and 'closed'. So there's that.

 

[bluegrasspicker]

Herr German,

That's par for the course in my experience with gov intervention at any level. You jump through a bunch of hoops then get screwed. In the meantime playing their game also provides employment for pencil-dicked slaves looking to serve their masters.

It took a while, but eventually I saw what I see now. No more for me.

I hope I'm not being too intrusive, but did you merge the two businesses because of recent events? I would imagine you add some amount of liability in merging since closing one means closing both. Maybe I'm wrong. What are the benefits?

Thanks for any insights,
Senor Bluegrasspicker