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Started By
Message
Did PPP save your job? The government has released loan data for recipients
Posted on 7/6/20 at 3:10 pm
Posted on 7/6/20 at 3:10 pm
LINK
My job was saved.
quote:
The U.S. Small Business Administration, in consultation with the Treasury Department, today announced it was releasing detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP). This disclosure covers each of the 4.9 million PPP loans that have been made.
“The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country,” said Secretary Steven T. Mnuchin. “We are particularly pleased that 27% of the program’s reach in low and moderate income communities which is in proportion to percentage of population in these areas. The average loan size is approximately $100,000, demonstrating that the program is serving the smallest of businesses,” he continued. “Today’s release of loan data strikes the appropriate balance of providing the American people with transparency, while protecting sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors.”
My job was saved.
20
Posted on 7/6/20 at 3:11 pm to GetCocky11
quote:
My job was saved.
Dem run cities say not so fast. Shutdown 2 incoming
Posted on 7/6/20 at 3:11 pm to GetCocky11
Possibly. I think our PPP funding ran out last week and they immediately laid off some people and cut all of our salaries 
Posted on 7/6/20 at 3:12 pm to GetCocky11
Posted on 7/6/20 at 3:14 pm to GetCocky11
We did it & turned in our forgiveness application 2 weeks ago
If things stay stalled I’m not sure what will happen, at least our operating expenses are low right now
If things stay stalled I’m not sure what will happen, at least our operating expenses are low right now
Posted on 7/6/20 at 3:20 pm to GetCocky11
We were able to pay everyone comparably and then got the little bonus % money to pay down on a large long term loan we have had sitting around.
Still didnt help losing out on significantly more money by being open.
I would classify it as way better than nothing especially for the employees but still a real fricking bitch.
Luckily we have been allowed to open since the middle of May and are right back to where we were.
Still didnt help losing out on significantly more money by being open.
I would classify it as way better than nothing especially for the employees but still a real fricking bitch.
Luckily we have been allowed to open since the middle of May and are right back to where we were.
This post was edited on 7/6/20 at 3:21 pm
Posted on 7/6/20 at 3:34 pm to GetCocky11
PPP was a live safer for us. It allowed us to continue on instead of laying off 2/3 of our employees and setting our company back a decade.
Posted on 7/6/20 at 3:38 pm to GetCocky11
Helped bridge a tough time, for sure. We had a plan to operate without it, just would have pissed off some vendors with slow pay.
Posted on 7/6/20 at 4:00 pm to GetCocky11
Yes, it saved my job. I have been employed on salary throughout this thing.
Posted on 7/6/20 at 4:16 pm to GetCocky11
i thought names of businesses were supposed to be in the spread sheet? unless i'm just looking at it wrong
Posted on 7/6/20 at 4:33 pm to GetCocky11
a lot of "investment advice" in there who took hundreds of thousands from us. very sad to see the corruption with the ppp. trump need to do something
Posted on 7/6/20 at 4:40 pm to GetCocky11
My job was fine.
It saved my wife's business though.
It saved my wife's business though.
Posted on 7/6/20 at 4:43 pm to GetCocky11
I'm glad I searched for this I just saw it in the paper.
Now here is my thing....my daughter stayed in her private school throughout the previous semester. Hence we paid full tuiton for 19-20 and have paid full tuition for 20-21.
I am not aware of any mass exodus of students from the school for 19-20 or 20-21 (as of yet pending return plans). Her school took a PPP loan of up to 1 million to save jobs. My question is if I was paying tution and all the other families were paying tuition how in the hell is the school proving that that 1 mil actually paid for the jobs...and what did the damn tuition that was already in the budget pay for????
I knew from the beginning this PPP shite was going to be gamed bigly.
Now here is my thing....my daughter stayed in her private school throughout the previous semester. Hence we paid full tuiton for 19-20 and have paid full tuition for 20-21.
I am not aware of any mass exodus of students from the school for 19-20 or 20-21 (as of yet pending return plans). Her school took a PPP loan of up to 1 million to save jobs. My question is if I was paying tution and all the other families were paying tuition how in the hell is the school proving that that 1 mil actually paid for the jobs...and what did the damn tuition that was already in the budget pay for????
I knew from the beginning this PPP shite was going to be gamed bigly.
Posted on 7/6/20 at 5:42 pm to GetCocky11
It saved some of my employees providing us with the needed cash flow while shutdown.. we did furlough some employees but have since brought some back once we were able to get back up and running on a more normal basis... the whole shutdown has completely changed our strategy and some of that for the betterment as we’ve been forced to be more targeted and lean...
Posted on 7/6/20 at 5:52 pm to GetCocky11
(no message)
This post was edited on 7/6/20 at 11:11 pm
Posted on 7/6/20 at 6:10 pm to GetCocky11
How does this work for companies who got a loan but didn't experience business disruption? Do they just pay their employees an extra 2 months, or are they supposed to pay it back or what?
Posted on 7/6/20 at 7:35 pm to GetCocky11
I'm self employed so it definitely did
Posted on 7/6/20 at 8:12 pm to GetCocky11
It saved the job of everyone who works for me.
Posted on 7/6/20 at 9:00 pm to GetCocky11
quote:
My job was saved
My job wasn’t saved, because I’m more essential than half our workforce but I know two others would have been fired for sure.
My boss actually has really struggled with one of them but feels bad about firing them during a pandemic. He’s told me point blank that PPP is the only reason she has a job. Millennial progressive chick that is very very smart but just can’t get the job done.
Posted on 7/6/20 at 10:36 pm to GetCocky11
Several Large NOLA grocery stores got PPP money. The grocery stores were killing it during covid times.
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