- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
1
Posted on 7/8/20 at 6:36 pm to deltadon
Coastal Bridge $2-5 million
$150,000-350,000 COACH O TIGER FOOTBALL CAMPS 1 Skip Bertman Drive BATON ROUGE 0 June 19, 2020 Investar Bank, National Association
$150,000-350,000 COACH O TIGER FOOTBALL CAMPS 1 Skip Bertman Drive BATON ROUGE 0 June 19, 2020 Investar Bank, National Association
This post was edited on 7/8/20 at 6:37 pm
Posted on 7/8/20 at 6:37 pm to EvrybodysAllAmerican
quote:
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.
Just a bunch of haters.
I got right at 1.2m, and I will definitely be following all the rules to have the loan forgiven. Even if I didn't, where else can you get money at 1%?
We actually did better in the 1st half of 20 than we did in 19, but it was nice having the feds pay the majority of our payroll for awhile.
Bonuses for 2020 will be nice.
Posted on 7/8/20 at 6:51 pm to Oilfieldbiology
quote:
And this is why governments are AWAYS bloated. Because people take advantage of it and abuse the system. Always.
This is true, but in this case a total of 73,000 businesses in LA got a loan. A lot of those probably do need it. So I'm not complaining. Plus the company I work for is on there and kept 233 people in jobs.
This post was edited on 7/8/20 at 6:53 pm
Posted on 7/8/20 at 7:41 pm to EvrybodysAllAmerican
quote:
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.
I was trying to explain this to someone last night that just couldn’t comprehend.
Also, the money was already allocated, it had to go somewhere.
Posted on 7/8/20 at 7:44 pm to tgrbaitn08
I would rather my taxs dollar go to local businesses that might go under rather than larger businesses just looking to increase profits off low interest loans.
How do you differentiate the two? I don't have an answer.
How do you differentiate the two? I don't have an answer.
Posted on 7/8/20 at 7:50 pm to fightin tigers
quote:
I would rather my taxs dollar go to local businesses that might go under rather than larger businesses just looking to increase profits off low interest loans.
How do you differentiate the two? I don't have an answer.
What’s wrong with a low interest loan? If we used the PPP within the guidelines it’s forgiven and we still get to keep our employees and pay the bills. If we don’t we’ll have to pay it back with interest.
As far as the EIDL SBA loan that’s also a low interest loan spread out over 30 years that payments won’t happen for 12 months if you choose with no early payoff penalty.
These programs are helping a lot of business's. Sure some won’t follow the rules but that money will be paid back with interest and I have no problem with that.
Posted on 7/8/20 at 7:51 pm to fightin tigers
quote:
I would rather my taxs dollar go to local businesses that might go under
Well they weren’t left out so you shouldn’t be too upset.
Posted on 7/8/20 at 7:55 pm to tgrbaitn08
quote:
What’s wrong with a low interest loan? If we used the PPP within the guidelines it’s forgiven and we still get to keep our employees and pay the bills. If we don’t we’ll have to pay it back with interest.
Nothing if I am borrowing.
I am lending the money though.
Posted on 7/8/20 at 7:55 pm to tgrbaitn08
My buddy took a PPP loan because he is in an industry that was shut down due to government regulations. He said as long as a certain percent was spent on payroll and rent, etc... that it is forgiven. No payback.
My wife does accounting and one that accepted the PPP loans made a huge owner withdrawal the month before acceptance of loan. Then made deposit for same amount the following month.
My wife does accounting and one that accepted the PPP loans made a huge owner withdrawal the month before acceptance of loan. Then made deposit for same amount the following month.
This post was edited on 7/8/20 at 7:56 pm
Posted on 7/8/20 at 7:59 pm to FormalGreenWizard
The twist is, it's damn near malpractice if you don't take free money from the inept govt to improve your stockholders lot.
Posted on 7/8/20 at 8:10 pm to fightin tigers
quote:
Plenty missed out
Yep I know some that missed out but it was because of their incompetent bank or CPA,
Oh well, you snooze you lose
Posted on 7/8/20 at 8:20 pm to tgrbaitn08
quote:
tgrbaitn08
Posted on 7/8/20 at 8:26 pm to TSLG
quote:
I got right at 1.2m, and I will definitely be following all the rules to have the loan forgiven. Even if I didn't, where else can you get money at 1%?
We actually did better in the 1st half of 20 than we did in 19, but it was nice having the feds pay the majority of our payroll for awhile.
Bonuses for 2020 will be nice.
This is all ridiculous. Whether or not you used it to pay payroll, if you didn't NEED it to pay payroll, you should have to pay it all back.
Insane to me that people are building wealth off of this nonsense.
Posted on 7/8/20 at 8:37 pm to LSUDAN1
quote:
My wife does accounting and one that accepted the PPP loans made a huge owner withdrawal the month before acceptance of loan. Then made deposit for same amount the following month.
Does not change anything
Posted on 7/8/20 at 8:43 pm to fightin tigers
quote:
Plenty missed out
bullshite. There is still money available and they extended the deadline another 5 weeks from 6/30.
Posted on 7/8/20 at 8:52 pm to fightin tigers
How could anyone have missed out?
Posted on 7/8/20 at 8:53 pm to Tiger4Ever
quote:
bullshite. There is still money available and they extended the deadline another 5 weeks from 6/30.
Yep, there’s still plenty of money available and more will be coming. If you’re not taking advantage of the program then you probably shouldn’t be in business to begin with.
People need to realize, just because a company was granted $350k-$1mm dollars, that doesn’t mean they can use that money any way they want unless they want to have to pay it back plus interest, which is fine with me, let them stimulate the economy, make money, pay taxes, keep employees, pay the money back plus interest?
What’s wrong with that?
Posted on 7/8/20 at 9:07 pm to tgrbaitn08
Was this program “abused”? That’s a matter of personal opinion, but the eligibility was established by Congress and I haven’t seen anything posted yet that would be obviously ineligible.
The SBA was the conduit (via the banks) to distribute these funds and the definition of eligible borrowers is fairly broad and clear. The maximum loan amount of $10MM should tell anyone with common sense that this program was targeting a large portion of US business beyond the “mom and pop”.
I find the uproar comical...particularly when it’s obvious some of those complaining have zero clue what is going on...to the point that they claim “plenty have missed out”.
If they did...it’s because they are asleep at the wheel.
The SBA was the conduit (via the banks) to distribute these funds and the definition of eligible borrowers is fairly broad and clear. The maximum loan amount of $10MM should tell anyone with common sense that this program was targeting a large portion of US business beyond the “mom and pop”.
I find the uproar comical...particularly when it’s obvious some of those complaining have zero clue what is going on...to the point that they claim “plenty have missed out”.
If they did...it’s because they are asleep at the wheel.
Page 6 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News