Small business rescue loan program hits $349 billion limit and is now out of money
The Small Business Administration's rescue loan program hit its $349 billion limit on Thursday and is now out of money.
www.cnbc.com
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Small business rescue loan program hits $349 billion limit and is now out of money
- Thread starter Schlorgan
- Start date
www.cnbc.com
this is dumb. if you got office folks working from home, congress needs to figure out how to do that, and get back to work already.
Guarantee the big wigs created companies to launder billions of the stimulus into their coffers. With no transparency no one knows.
Yes. Production is reduced but we were slightly lucky to already be can heavy. Our draft accounts (aside from the taproom) were pretty limited already. Made the transition slightly less painful but sales are still down by quite a bit after a small surge at the beginning.
The guy that was supposed to do the transparency wasnt loyal enough and fired.
That is good news. Here in SC the state has finally started loosening distribution regulations, but the Brewers who relied mostly on taproom sales are really getting hit. :(
As someone who works for a company that did get it, what would be done with this information?
Uh It's pretty easy how to get more money. Some people are actually thriving in all this. Get them to pitch in.
www.forbes.com
10 Billionaires Gained $51 Billion This Week As Markets Edged Up From The Stock Crash
The Federal Reserve’s plan to support the economy sent some shares soaring. Good news for billionaire shareholders.
www.forbes.com
The article I read said the average loan was $240,000. Seemed like a high amount since I read they were basing it off of 10% of expenses and my wife got 1k for her business.
Yeah, from folks i know it sounded like a huge ass clusterfuck. You basically had to be ready once the application process started because they were sure the money was going to run out fast.
The term "small business" is about as honest and logical as "corporations are people" and "small family farm" - since it includes everything from some fucker registering his private jet as a business to reduce taxes to multi billion dollar investment funds. Indeed it's those extremes that wield the most direct influence through normal political corruption - but made vastly worse by Citizens United which is arguably the most destructive Supreme Court decision in history.
For one thing, without Citizens United - you likely don't have Trump.
American small businesses represent the "single" largest employer but the five man plumbing company or the craft brewery you're thinking of are not the whole story and not the most profound beneficiaries of small business legislation.
For one thing, without Citizens United - you likely don't have Trump.
American small businesses represent the "single" largest employer but the five man plumbing company or the craft brewery you're thinking of are not the whole story and not the most profound beneficiaries of small business legislation.
Our business sent in our application the day applications opened. Then we had to refile 2 days later because our bank told us all the paperwork changed. Over the last week we've had to send in two more sets of additional info because, once again, our bank told us the paperwork changed. We finally got a notice Monday night that our paperwork was processing.
Fuck.
Fuck.
People reeeeaaallllly underestimated just how much money would be needed.
The problem is longevity.
350 bill divided by 10k would help 35 million small businesses. The problem is 10k isn't enough for the length of time.
The problem is longevity.
350 bill divided by 10k would help 35 million small businesses. The problem is 10k isn't enough for the length of time.
Congress needs to pull their heads out of their asses, stop trying to add conditions, and re-fund this today.
We've been left in the cold even though we had everything submitted on day one.
We've been left in the cold even though we had everything submitted on day one.
Barely any banks accepted applications from entities that they didn't have a prior relationship with as of mid February.
It's almost like the people in charge are completely unqualified and have no idea what they're doing.
