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re: Here's the list of Louisiana businesses that will receive at least $150,000 in PPP loans
Posted on 7/8/20 at 1:00 am to LSUAngelHere1
Posted on 7/8/20 at 1:00 am to LSUAngelHere1
quote:
350,000-1 million BLUE BAYOU WATER PARK LLC 18142 PERKINS ROAD E BATON ROUGE 130 April 9, 2020 IBERIABANK
Was it closed down? People not able to go to water parks?
2
Posted on 7/8/20 at 6:34 am to FormalGreenWizard
Are these loans or grants ?
Posted on 7/8/20 at 6:36 am to ElderTiger
quote:
Are these loans or grants ?
They’re called loans, but they’re basically grants since the vast majority are/will be forgiven. It’s free money.
Posted on 7/8/20 at 6:39 am to FormalGreenWizard
Welfare and Socialism.
Posted on 7/8/20 at 6:43 am to FormalGreenWizard
You probably don’t recognize the names of all the “pro business” And “small government” law firms that took PPP money, but they are on the list
Posted on 7/8/20 at 6:47 am to FormalGreenWizard
Have these already been distributed?
Posted on 7/8/20 at 7:02 am to FormalGreenWizard
Anyone who expected this government created and run program to benefit anyone other than the wealthy and connected is just a mindless fool.
Posted on 7/8/20 at 7:08 am to FormalGreenWizard
Type your hometown in the top left search box.
I see several people's business I know and know they are full of shite when they state 41 employees etc.
Unless they are counting the kids and wife.
I see several people's business I know and know they are full of shite when they state 41 employees etc.
Unless they are counting the kids and wife.
Posted on 7/8/20 at 7:19 am to FormalGreenWizard
All the big law firms took out loans. Lots of employees to pay. At least these are loans and not grants. The unemployment abuse is what pisses me off the most.
Posted on 7/8/20 at 7:23 am to FormalGreenWizard
Do these have to be paid back or is this something that will be written off on taxes ?
Posted on 7/8/20 at 7:24 am to The Mick
quote:
At least these are loans and not grants.
But the loans are forgiven, so in essence they are grants, that being said PPP was a lifesaver for my business
Posted on 7/8/20 at 7:26 am to The Torch
quote:
Do these have to be paid back
If 60% of loan is used for payroll expenses, and no reduction of employees and no more than 25% wages reduced the loan is forgiven, nothing to do with taxes
Posted on 7/8/20 at 7:27 am to The Torch
quote:Not if they are used for approved purposes - 60% on payroll (capped at a pro-rated 100k annually per employee) and 40% on rent, utilities, or mortgage interest and they maintain their employee numbers (with some exceptions).
Do these have to be paid back
quote:The funds are not taxed as income.
is this something that will be written off on taxes ?
Eta: the PPP loans were designed to keep people employed during the lockdown and pump money into the economy. No one should have any issue with a business that qualified for the loan taking it. If you have a problem with it, your gripe should be with Congress and the President/Mnuchin who designed the program.
This post was edited on 7/8/20 at 7:36 am
Posted on 7/8/20 at 8:15 am to donRANDOMnumbers
quote:
i know all those companies receiving governments funds just have executives pocketing all the money.
I'm looking in my pocket and not seeing any extra money
Half of my business was closed for a couple weeks, and the other half was a skeleton crew. Many jobs were put on hold for my install division and many of my distribution customers were closed. I was within two days of laying off 2/3 of my employees. Cash flow is a bitch when you're coming out of the slow season in to what should have been our busy season. Luckily my PPP funded at the last minute and I was able to keep going.
What a lot of people don't remember is how much uncertainty there was in late March/early April. No one knew where the economy was going, and any business owner worth a shite was going to take that money in anticipation that things were going to go really south. I'm sure there was a lot of gaming, but there was also a lot of good that came from the PPP.
I can tell you with 100% truth that all the PPP money we received went directly to my employees and to utilities. We only applied for a 2x instead of the 2.5x allowable amount.
Posted on 7/8/20 at 8:26 am to FormalGreenWizard
i don't understand why people would be mad at the businesses for taking the money. They have to use a majority of it for payroll, and they have to prove it, or they have to pay it back with interest. it kept a lot of businesses afloat and people off of unemployment. That was the whole purpose of it. My business pretty much closed for 2 months and I was able to still pay employees and keep them.
Would I have done it this way if I was in charge of government? no. I think it was a big waste of taxpayer money along with the stimulus checks but I blame the tax and spend government for handling it this way, not the business owners.
Would I have done it this way if I was in charge of government? no. I think it was a big waste of taxpayer money along with the stimulus checks but I blame the tax and spend government for handling it this way, not the business owners.
This post was edited on 7/8/20 at 8:33 am
Posted on 7/8/20 at 8:32 am to Nephropidae
(no message)
This post was edited on 7/8/20 at 9:16 am
Posted on 7/8/20 at 8:33 am to FormalGreenWizard
It's a loan.. so they will have to pay it back, right?
Posted on 7/8/20 at 8:34 am to LSUJML
quote:
17 funeral homes
So many people died of covid that they had to store bodies at ice skating rinks instead of funeral homes
Posted on 7/8/20 at 8:37 am to FormalGreenWizard
I think Canada's 75% wage subsidy program (up to a cap for each individual employee - about 50kish) was a much better program than the PPP. Primarily because the company had to prove a 30% or greater decline in revenue year over year.
Posted on 7/8/20 at 8:40 am to FormalGreenWizard
Coach O’s football camp Loan Range $150,000-350,000
Business Name COACH O TIGER FOOTBALL CAMPS
Address 1 Skip Bertman Drive
City BATON ROUGE
Jobs Kept 0
Date OK'd June 19, 2020
Lender Investar Bank, National Association
Business Name COACH O TIGER FOOTBALL CAMPS
Address 1 Skip Bertman Drive
City BATON ROUGE
Jobs Kept 0
Date OK'd June 19, 2020
Lender Investar Bank, National Association
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