Covid 6.0
- Thread starter kaz36_rivals189319
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Then nobody cares about the future of our children and grandchildren. They're fools.
I’m a small business owner so I am currently going through the process. The rollout has definitely been plagued by issues but assuming that gets fixed there absolutely is grant money available to small businesses. Well, in theory I guess. Both my accountant and my bank have confirmed that I will have access to:
1- the PPP loan - This is for up 2.5x months of payroll and is forgivable if I spend 75% of that on payroll and maintain full payroll for 8 weeks.
They have put in there a mechanism which allows you to delay the clock for the required 8 weeks of payroll in order to obtain loan forgiveness. Therefore you can hold until things normalize to some extent let your staff take advantage of the beefed up unemployment insurance and then utilize the eight weeks of payroll when your business is up and running closer to normal. I think this was pretty clever in that it basically allows capital intensive businesses to have two really profitable months (provided there is demand) to get back on the right foot.
2- an EID loan in which the $10,000 advance of the loan functions as a grant.
So basically a small business owner can get $10k + 2.5 months payroll that functions as a grant. The rest is a indeed a 1% loan which is nothing to sneeze at of course.
And depending on how a business is structured both the corporate entity and the individual proprietor may be entitled. So it could’ve 2x of what I described above depending on the situation.
We’ll just have to see how far the funding goes and how well this is executed but they theoretically did okay by small businesses IMO
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That’s one regional store, WalMart hasn’t done anything, our local grocers and gas stations have done nothing. We’re locked down and people are still doing dumb stuff, people with symptoms going to WalMart to shop.
And if you keep your social distance from the sick people you'll be fine. Walmart this morning in my community started screening people as they entered and if you looked sick you were told to leave. The also were limiting how many people could be in the store. I haven't been in there for several days so I don't know if they're doing anything else there or not. Again, MOST of the people use the self checkout lines and the person working in there was wearing gloves the last time I was in there. Personally as a person educated in sterile technique, I think having them wear gloves is a joke. I don't know if they have masks on or not BUT we've had just a couple of cases of COVID-19 diagnosed in people who got it elsewhere (Iowa cough cough) and ZERO hospitalizations so far.
How? If you don’t have the resources built up to get out of your situation you are a failure and lazy, right?
I’m a small business owner so I am currently going through the process. The rollout has definitely been plagued by issues but assuming that gets fixed there absolutely is grant money available to small businesses. Well, in theory I guess. Both my accountant and my bank have confirmed that I will have access to:
1the PPP loan - This is for up 2.5x months of payroll and is forgivable if I spend 75% of that on payroll and maintain full payroll for 8 weeks.
They have put in there a mechanism which allows you to delay the clock for the required 8 weeks of payroll in order to obtain loan forgiveness. Therefore you can hold until things normalize to some extent let your staff take advantage of the beefed up unemployment insurance and then utilize the eight weeks of payroll when your business is up and running closer to normal. I think this was pretty clever in that it basically allows capital intensive businesses to have two really profitable months (provided there is demand) to get back on the right foot.
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So basically a small business owner can get $10k + 2.5 months payroll that functions as a grant. The rest is a indeed a 1% loan which is nothing to sneeze at of course.
And depending on how a business is structured both the corporate entity and the individual proprietor may be entitled. So it could’ve 2x of what I described above depending on the situation.
We’ll just have to see how far the funding goes and how well this is executed but they theoretically did okay by small businesses IMO
You can't do both. But, I work for an employer that has 10 compaines. So, for the 3 that have employees we file for the PPP forgivable loans and for the 7 that don't have employees we file for the EIDL $10,000 forgivable. Hooray, I get to keep my job and the bosses make out like bandits. But, for the unsophisticated restaurant owners who had to shut down during this "crisis", they aren't probably sophisticated enough to apply. I put together detailed packages for this to make sure our applications were at the top and the bankers didn't have to do any thinking about pushing our applications through to the SBA.
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No. He just spends too much time and energy posting on a message board. THIS IS STILL THE GREATEST COUNTRY ON THE PLANET!!!! For all of our faults we're still the place that millions of people are literally dying trying to get in to. This is still due to our capitalistic system the place where you CAN literally start with NOTHING and become wealthy. My family is proof of that. It's not a guarantee of prosperity. It IS a guarantee of opportunity to prosper. Socialism by definition wants to guarantee equal outcomes.. It doesn't work. Look at our welfare system.
Cool, we live in a different place. My area has 63 confirmed cases, 19 of those have been hospitalized and 7 have died as of yesterday. We have confirmed community spread, yet Lowe’s is packed to the gills with people buying flowers and just browsing around as a family because they have nothing else to do, despite a local shelter in place order. You are in a bubble, congrats!
IF they have a banker who gives a **** the banker is calling their clients to help them. Two young guys I know who have both recently purchased businesses were both contacted by their bankers this past week.
It's here too but I'm not completely paranoid about catching it either. I keep my distance from people and others are doing the same. Sounds like you need to move to a red state. BTW, Omaha is not a red area. The OWH has turned it blue.
A lot of restaurant owners do not have that kind of relationship with their bankers. The people who have that kind of relationship with their bankers have hard assets that the bankers can loan on ("The RICH"). Most restaurant owners are living hand to mouth. I've been on webinars with real estate owners across the country, and they are salivating all over all of this. Sharks are circling and there is blood in the water. I'm telling you right now, that those that shouldn't be benefiting from this bill are going to be the ones benefiting the most. The rich, savvy people didn't get where they are from sitting back and hoping for the best.
We are not a pure capitalist society, we socialize roads, healthcare for the elderly, retirement and education. Income inequality is at an all time high, it’s not all or nothing. We will never be perfect, but our country is in record debt, under significant strain and wage growth and GDP growth have been slow despite virtually free money. Maybe we should try something other than print and spend and making people billionaires for a few years.
No ones arguing for commie socialism. The success of the American system allows for a more humane social safety net. And the immigrants I know just shake their heads at the stupidity of right wing politics in the US.
Red state, red county over 60% Trump in 2016. The funny thing is you have pegged me left when I’ve voted blue exactly once in my life.
And no capitalist society has failed? You realize the US isn’t even that much more free market than the Scandinavian countries people love to decry as socialist?
That is the war that is being waged right now. Soon, your lot in life may be your lot in life.
Do you realize the advancements that have happened since 1776 compared to the millenniums that preceded that time? I just had my 50th birthday and was reflecting on the fact that it was 50 years between the civil war and WWI. Do you comprehend how fast society advanced when people could benefit from their own accomplishments? Ugh. I'm sick of this the world owes me something bs.
Do you realize the advancements that have happened since 1776 compared to the millenniums that preceded that time? I just had my 50th birthday and was reflecting on the fact that it was 50 years between the civil war and WWI. Do you comprehend how fast society advanced when people could benefit from their own accomplishments? Ugh. I'm sick of this the world owes me something bs.
Yes, and they have come from all corners of the world and multiple economy types and government structures. Are you pretending that only the US or capitalist economies are advancing?
I owe the world, the world doesn’t owe me anything. Being born a white dude in the US gives me the greatest income potential and I didn’t have a damn thing to do with it. I’ve been fortunate in life overall and want others to have that same fortune, even if I have less as a result.
OMG, don't apologize for who you are. I don't hold anything against anyone unless they are an idiot. If you feel guilty because your are a white male, then you bought in to all of this bullsh!t.
Edit: You do not have to bear the burdens of your great grandfathers' sins.
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Alright ladies and gentlemen. Let’s steer this convo back towards CV19 and give the other politics a rest.
Both the Vice President of my bank and two partners at my accounting firm were adamant that you can in fact do both.
This Forbes contributor agrees with them btw. So if your boss was led to believe otherwise perhaps you can score a raise out of bringing this to his/her attention.
https://www.forbes.com/sites/briant...ons-on-the-cares-business-loans/#9fed47d5767c
Interestingly as he brought up you can also file for unemployment. So in theory you could use the PPP loan for payroll and whatever remains for fixed costs, the 10k EID grant for other fixed business expenses and then if you are a sole proprietor that is operating your business you could take no income from the business and take the expanded unemployment benefits.
So some small business folks will get 2.5x months payroll, 10k forgivable and 4 months of unemployment at 40% monthly take home plus 600 per week.
Yes, we aren't in the business of being "overwhelmingly" greedy. So we are doing the PPP on our W-2 businesses and using the EIDL on the 7 other businesses that don't have employees. But, I think you proved my point on who should be getting this "bailout" and who is actually getting it.
Edit: You're people can't get unemployment as you have to keep at least 75% of your staff employed to get 100% forgiveness on the loan.
Edit: You're people can't get unemployment as you have to keep at least 75% of your staff employed to get 100% forgiveness on the loan.
But, then the real question remains, was 3,000 people as of today worth the american public paying for all of this?
Overwhelmingly greedy? You could have just admitted you were incorrect rather than casting aspersions.
If it’s legal and you are in need why not try and maximize the benefits that you are legally permitted.
I have 14 paycheck to paycheck employees and they are going to make out very well from all of this. Well, at least initially. We’ll have to see what happens with the economy over the longer term. But in the meanwhile they will be getting more than their normal paychecks through unemployment for four months or when we get up and going again (hopefully much sooner.) Then they’ll have a guarantee of full wages for another two months thereafter even if things are slow.
I think all things considered it’s not a bad bill. Costly and probably a bit bloated but they addressed a lot of issues with it.
If you haven't gathered from my previous posts, I'm against this whole thing being something we shut down the country for and creating a 2 Trillion dollar problem and which our "great" legislatures are trying to make in to a 5 trillion dollar problem.
well it’s 3,000 as of now bc we did all of this. I tend to believe the scientific minds who have suggested unimpeded the death toll would’ve been in the millions. Provided they were correct then I’d say yes it’s worth it.
Though the tax cut of ‘17 benefitted me I had a much bigger problem with that use of resources then I do with this stimulus bill.
If I didn’t get it I’d survive but given the situation I feel grateful for the opportunity to potential turn lemons into lemonade.
That ******** model was revised long ago. Keep up. Glad you got your money though.
There are countless models that had death tolls well past one million deaths if there was no public health intervention. It is a widely held belief in the scientific community that if we just let it rip the death toll would have been immense.
I think you are referring to the Imperial College modeling. The reason that the number changed (actually narrowed to the low range of the exceptionally wide initial estimates) was precisely because of the public health intervention in the UK. Epidemics are effected greatly by public health interventions such as social distancing and given the exponential nature of the math small changes in inputs can account for massive changes in the result.
In short I would suggest that you sir are the one that needs to keep up.
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