We business people might not get our PPP

We had a cul-de-sac gathering last night with social distancing,,, each couple 10 feet apart. I thought it went pretty well except for hearing aids, we were far enough apart that we couldn't hear half of what was said. Ended up yelling at each other,,, I thought some younger neighbors might get miffed and call the cops. But before that happened we all ran out of adult beverages and went home.
It sure is great to get out again!!!!
 
Paxilpapa said:
We had a cul-de-sac gathering last night with social distancing,,, each couple 10 feet apart. I thought it went pretty well except for hearing aids, we were far enough apart that we couldn't hear half of what was said. Ended up yelling at each other,,, I thought some younger neighbors might get miffed and call the cops. But before that happened we all ran out of adult beverages and went home.
It sure is great to get out again!!!!
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When you yell the "safe distance" gets longer.
 
<head shaking>

I read of one spa owner who was approved for the loans for her two spas. When she called to give the employees the news that they would still be getting a paycheck, she was met with hatred and anger, as many of them had calculated and with the extra $600 a month congress added to unemployment, they would have made more with unemployment then keeping their paychecks.

This is just so messed up.
 
They'd be the first ones I let go and then I'd hire replacements pronto. I'm not certain but I don't think you have to keep the same employees but you do have to keep the same number of employees. I'll make sure I check the fine print before signing if I'm offered anything.

On a related note, a good friend of mine got the dreaded phone call today that he's been let go at least until things pick back up. He works at a law firm filing mostly real estate related legal documents and managing cases. His wife works at the same firm but in a different department. So far she is still employed although last week she had a scare when they let another girl go from a different office who had the same first and last name. They accidentally merged their profiles and after they let the one girl go it locked my friend's wife out of their system so of course she assumed she was being terminated.

Crazy times.
 
My brother's company got the money.

They have had many who quit saying they did not feel safe working. Those positions have been filled.

Those that quit were shocked they were replaced. They thought they would collect the $1200 a week for as long as they could, then get their job back once corona was over and the goobermnt wouldn't cough up any more corna money.

You must use 75% of the money for salary... it does not have to be paid to the original employee, you can hire people to replace a position if they quit due to "feeling" unsafe, or any other reason you lose an employee. As long as you use 75% for salary, the loan is forgiven.
 
Glad to hear confirmation of a company actually getting the funds, and thanks for clarifying the employee retention part. I hate to hear of any losing their jobs but at least it was of their own decision even though I can understand their concern and hesitation.
 
J-man said:
Glad to hear confirmation of a company actually getting the funds, and thanks for clarifying the employee retention part. I hate to hear of any losing their jobs but at least it was of their own decision even though I can understand their concern and hesitation.
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Nah, one, for instance, was a 19 year old... just wanted the $1200 bucks a week. They hired someone better.
 
I've read that if you make less that $30 an hour, then for the short term, you will make more on unemployment with the random $600 a month the idiots in Congress added.
 
I wasn’t going to mention that but it was on the news and of course the talking head was basically giving a silent signal as an encouragement not to return to work until federal funding ends.

It shouldn’t surprise anyone that a segment of our populous will take advantage of the opportunity but I can’t honestly blame them, it’s really no different than PPP funding. We have created a monster which needs to eat frequently but as long as everyone feels safe I guess it’s acceptable.
 
The Sound Guy said:
I've read that if you make less that $30 an hour, then for the short term, you will make more on unemployment with the random $600 a month the idiots in Congress added.
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Yep, that is the problem. Government was trying to entice everyone to stay at home by making it economically better than working their entry level job.

Many businesses are using that as a reason to provide a "hazard pay differential" to those that remain on the job. Sort of screws those who decide to pretend they are afraid to work due to Corona (when they are 19, and their job does not even involve contact with the public for instance.)

I hope in a way after this is over the "leeches" are the ones who go without a job for a while... unfortunately I fear that instead it will be the highly skilled who are too expensive to hire and the punk 19 year old will be hired.
 
I woke up yesterday morning with a bad feeling about the big banks and their handling of the PPP. I got my application in to Suntrust within two hours of them putting up their portal on a Sunday night, almost a month ago. Have not heard a peep. I send emails in to the special address they have set up, and I get responses with blah, blah, blah. Being on a Sunday night, I had to have been near the top of the line.

A contractor we work closely with told me about a small bank in Cartersville who got them approved quickly. We sent an application in this morning and they got us approved within about an hour and a half.

Now just waiting on the funding, should happen within a few days.

I will probably be changing banks.
 
The Sound Guy said:
We left Suntrust when we'd had an account there for 10 years and wanted to borrow 30K to buy our 2.2 acres in Paulding.

Their answer: We don't do land loans. Do you have 30K worth of stock you can borrow against?

My response: You don't do my account any more either.
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The people in the branch have been wonderful to me. They all bend over backwards to help.

It's when you get above the branch when problems start.
 
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