quote:

Originally posted by TD3550:
Mr Mike Rietow... The is "NOTHING *** Funny about this situation. !!! Nothing!!!! Not a *** thing period....

I can't think of anything funny about an essential business right about now, can you?

Your perception is your reality.

I would imagine the CARES ACT will help some with the loan. 7(A) loan.
Small business interruption
Loan Forgiveness.

Read up on CARES .... You cannot lay off employees and receive a grant . Lots of hoops too .

Gun sales became essential here yesterday. Along with a liberal Sheriff saying he would not issue permits until 1 May. He has changed his mind after 3 different people sued him over not issuing them.

Your friend needs a good attorney right away. What some of these government agencies are doing or trying to do is completely unconstitutional.
He should file a lawsuit immediately.

quote:

Along with a liberal Sheriff saying he would not issue permits until 1 May. He has changed his mind after 3 different people sued him over not issuing them.

Now THAT is music to my ears! The governmental over-reach on this virus, at all levels, is appalling. Just as a cop will knowingly violate your rights at a routine traffic stop, so will government agencies. And as long as people kowtow they will eagerly and knowingly over-reach their authority.

He11 these big city liberal mayors have banned doctors from prescribing the malaria drug(s). Can you imagine that, a politician telling a doctor how to prescribe medicine.

quote:

Originally posted by Canted Valve:

quote:

Along with a liberal Sheriff saying he would not issue permits until 1 May. He has changed his mind after 3 different people sued him over not issuing them.

Now THAT is music to my ears! The governmental over-reach on this virus, at all levels, is appalling. Just as a cop will knowingly violate your rights at a routine traffic stop, so will government agencies. And as long as people kowtow they will eagerly and knowingly over-reach their authority.

He11 these big city liberal mayors have banned doctors from prescribing the malaria drug(s). Can you imagine that, a politician telling a doctor how to prescribe medicine.

Bravo! An American at last.

I just put Mr. Rietow on my ignore list. How about we put Congress on the "no pay" list. Bet they will get to work on this situation immediately.

quote:

Originally posted by 68TSCAMARO:
Read up on CARES ....

Here is a good article breaking down the basics...

https://www.entrepreneur.com/article/348552

You need to find a bank that is offering the PPP, not every bank is getting involved in this.

Our banker called us and told us that they are offering this.

Here's what the PPP Loan application looks like......

https://www.sba.gov/sites/defa...plication%20Form.pdf

Loan application process is to be up and running Monday from what I understand from my Loan officer . It is a two part program with the payroll portion turning into a grant from a loan if you continue your payroll for two months . A few hoops to jump thru but you are eligible for 2.5 times your average monthly payroll from last year ..... a no brained even at .5% if you don't convert from loan to grant .

Bank of America has reported fifty eight thousand small businesses asked for $6 billion in loans, from 9 am to closing. Geesh SMH staggering. How negative do the rates need to go to make it work? And for how long? No way I'd get in that line, no way.

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No way I'd get in that line, no way.

For Bank Of America you apply on line at bankofamerica.com/SBResources

And you have to have account with them.

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Originally posted by Trans Lady:

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No way I'd get in that line, no way.

For Bank Of America you apply on line at bankofamerica.com/SBResources

And you have to have account with them.

Yes, I know about this because I've had the same acct with Bank of America since 1984. It was NBNC, Barnett and then Bank of America.

quote:

Originally posted by Mike Rietow:

quote:

Originally posted by Trans Lady:

quote:

No way I'd get in that line, no way.

For Bank Of America you apply on line at bankofamerica.com/SBResources

And you have to have account with them.

Yes, I know about this because I've had the same acct with Bank of America since 1984. It was NBNC, Barnett and then Bank of America.

Well, I'm sorry!

Why are you talking about standing in line?

Oh, and I had an accounts with them since 1978!

No line , all electronic transmittal of docs to and from and electronic signature . There is the this new thing out there called the internet and computers . Some people actually utilize it for business purposes and not watching porn ... I hear .

Nah, I see now small business's doing business with a clear balance sheet are penalized. Not eligible, for Bank of America small business loans.

Sounds like an asset seizing racket for the 2/3 left without a chair, when the music stops.

Par for the course.

Update.
Most of the trucks are out of his yards now.

He spoke to his accountant and attorney.
Since he laid his staff off he unfortunately can't get any of the PPP money, maybe a little from the EIDL but that won't be enough.

He has contacted his banks, most gave him 60 days deferment, the problem is most of his work was contracted so he will need to re-apply (takes months) but can NOT do so until his "no work" is lifted.
His employees and their families are now up to 5 Corona positive from 2 so it is still growing.
He's at his wits end.

My work is essential, but we're shutting down for 2 weeks due to a decline in customer demand.

All the government and other bail outs for people and businesses who aren't prepared are ticking me off.

If a person or business can't make it a couple months without a paycheck they should have planned better.

quote:

If a person or business can't make it a couple months without a paycheck they should have planned better.

Good lord man, I think what you're suggesting is personal responsibility.

quote:

Originally posted by pentastarrail:
Update.
Most of the trucks are out of his yards now.

He spoke to his accountant and attorney.
Since he laid his staff off he unfortunately can't get any of the PPP money, maybe a little from the EIDL but that won't be enough.

He has contacted his banks, most gave him 60 days deferment, the problem is most of his work was contracted so he will need to re-apply (takes months) but can NOT do so until his "no work" is lifted.
His employees and their families are now up to 5 Corona positive from 2 so it is still growing.
He's at his wits end.

I would get a second opinion. He was forcefully shut down by the authorities due to this. Not his choice. What is he to do, but close shop. Due to this. What do they expect him to do? the repairs out in the street. This is a bunch of BS. I really feel for this guy and his repair center. He can recall his employees that are healthy. This PPP sounds like a CF. You think he would of had a better chance with a temp furlough instead of the other?

Wife was let go and is on a furlough for 2-3 weeks. She was told at the end of the furlough if things don't clear up, to file for UI.

This message has been edited. Last edited by: TD3550,