Construction business owner here. PPP loan helped save us. We covered all healthcare for 6 employees and got them back to work sooner. Only when we exhausted the funds and employees were back to FT and wages did we have them start funding their own healthcare again.
Small biz owner here. PPP saved us. Biz went to 0 for first time in 27 years. PPP got here in the nick of time. Process was crazy but timing was truly a life saver. I have several frens in the same situation. Without it we would have ceased to exist. Are there jssues with the PPP and corrupt people taking it? Sure But i think the vast majority of very small businesses that got some dough were helped. 85% of the number of loans make up only 25% of the funds... that's where we are, at the bottom of the list somewhere. Just because some corrupt bastards abused the program, dont think that's all there is to it.
I have a friend that owns a franchise that employees ~25-30 people. I'm pretty certain without the PPP money, his business would have folded during the pandemic. One of the parameters of the loans is that at least 60% of the money must go to payroll and you can't reduce headcount during the pandemic. That said, with his state's imposed lockdown, he's paying people that have no work to report to. They stay at home and he cuts them their usual payroll check.
This right here. I was in a shop a few weeks ago that laid people off back in March/April. The company couldn't get those people back because they were making more on unemployment. So the company had to pay them under the table to get them to come in.
My company got one. They laid me off so I filed for unemployment in Mi unemployment was regular $392 + $600 from the government and I kept my insurance througt the company. Anyways, the president blew threw all that PPP money because he paid him and the vice Pres the maximum amount allowed $100,000. Long story short last I heard they are listing all the machines and equipment on eBay. You can't help people that can't help themselves.
The shop I work at got the PPP so we could work and cover insurance when we were laid off... company is still taking that insurance money from us every week...
I did, and I actually needed it. I have been impoverished, due to disability, for the last 7 years, and my car was pretty much fucked. I used all 1200 on fixing my car (the Nissan dealer helped me out and rounded it down to exactly 1200. Now, with a fixed car, and a $100 phone my mom bought me, I was able to start working for Postmates.
This was 6 weeks ago, and I've already earned $2,000. That's 2,000 more than I've earned in 7 years, and it was all thanks to this check.
Construction business owner here. PPP loan helped save us. We covered all healthcare for 6 employees and got them back to work sooner. Only when we exhausted the funds and employees were back to FT and wages did we have them start funding their own healthcare again.
Small biz owner here. PPP saved us. Biz went to 0 for first time in 27 years. PPP got here in the nick of time. Process was crazy but timing was truly a life saver. I have several frens in the same situation. Without it we would have ceased to exist. Are there jssues with the PPP and corrupt people taking it? Sure But i think the vast majority of very small businesses that got some dough were helped. 85% of the number of loans make up only 25% of the funds... that's where we are, at the bottom of the list somewhere. Just because some corrupt bastards abused the program, dont think that's all there is to it.
I have a friend that owns a franchise that employees ~25-30 people. I'm pretty certain without the PPP money, his business would have folded during the pandemic. One of the parameters of the loans is that at least 60% of the money must go to payroll and you can't reduce headcount during the pandemic. That said, with his state's imposed lockdown, he's paying people that have no work to report to. They stay at home and he cuts them their usual payroll check.
This right here. I was in a shop a few weeks ago that laid people off back in March/April. The company couldn't get those people back because they were making more on unemployment. So the company had to pay them under the table to get them to come in.
My company got one. They laid me off so I filed for unemployment in Mi unemployment was regular $392 + $600 from the government and I kept my insurance througt the company. Anyways, the president blew threw all that PPP money because he paid him and the vice Pres the maximum amount allowed $100,000. Long story short last I heard they are listing all the machines and equipment on eBay. You can't help people that can't help themselves.
The shop I work at got the PPP so we could work and cover insurance when we were laid off... company is still taking that insurance money from us every week...
I did, and I actually needed it. I have been impoverished, due to disability, for the last 7 years, and my car was pretty much fucked. I used all 1200 on fixing my car (the Nissan dealer helped me out and rounded it down to exactly 1200. Now, with a fixed car, and a $100 phone my mom bought me, I was able to start working for Postmates. This was 6 weeks ago, and I've already earned $2,000. That's 2,000 more than I've earned in 7 years, and it was all thanks to this check.
If you meant the business stimulus, nevermind LOL