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Old 04-27-2020, 09:12 AM
 
8,755 posts, read 5,322,884 times
Reputation: 23079

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It's just infuriating. This morning our bank put up a little notice on their website saying that they anticipate using up all the money they get from the second infusion on their already backlogged applications, and still won't be accepting new ones. So we can't even apply and get in the queue! All that money sucked up by billion-dollar loans to huge thriving companies who don't need it.

Not to mention that we have never received a stimulus check...it might be here in the fall sometime, maybe...and even when we do, two of our children are over 17 (17 and 20 to be precise), live at home, and we claimed them as dependents. So we get no money for them, and they get no money either. They just fall through the cracks. As our whole family and our tiny business also seem to be doing.
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Old 04-29-2020, 03:01 AM
 
23,364 posts, read 16,089,743 times
Reputation: 16872
Quote:
Originally Posted by saibot View Post
It's just infuriating. This morning our bank put up a little notice on their website saying that they anticipate using up all the money they get from the second infusion on their already backlogged applications, and still won't be accepting new ones. So we can't even apply and get in the queue! All that money sucked up by billion-dollar loans to huge thriving companies who don't need it.

Not to mention that we have never received a stimulus check...it might be here in the fall sometime, maybe...and even when we do, two of our children are over 17 (17 and 20 to be precise), live at home, and we claimed them as dependents. So we get no money for them, and they get no money either. They just fall through the cracks. As our whole family and our tiny business also seem to be doing.
It was widely predicted that the 300+ billion USD infusion of cash to the PPP would be used up by applications already filed before scheme ran out of money.

https://www.nbcnews.com/business/bus...d-ppp-n1193421
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Old 05-07-2020, 12:36 AM
 
23,364 posts, read 16,089,743 times
Reputation: 16872
Every day more and more it looks as if people had a lucky escape not getting involved with PPP. DT and his instrument Munchin are putting the screws to people so it almost seems not worth bothering.

https://www.nytimes.com/2020/05/06/b...ronavirus.html
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Old 05-11-2020, 11:48 PM
 
Location: Henderson, NV
6,635 posts, read 6,728,951 times
Reputation: 8726
Quote:
Originally Posted by jbgusa View Post
I can't rep you again but it sounds as if you have retained your loyalty and decency.
We did get a $2,000 stimulus after all! I thought I should follow up with that. Took about 6 weeks and yeah it’s small, but I won’t complain about any help. Help is help.

Also today was a huge day for the company, we might end up being ok from this whole situation in the long run. A potential client had reached out to us about doing a bunch of videos, but it was an internal discussion between video and Matterport tours. Today they let us know they chose video and they chose us! It’s a 6 figure deal, so a huge one for us. We got another company wanting a small video this month too as some extra nice Monday news. And we have a call this week with a different $170,000 deal we closed earlier this year but never started because of the pandemic. So lots of positive news and should help us make it through 2020 doing well.
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Old 05-12-2020, 07:07 AM
 
5,109 posts, read 3,404,798 times
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Quote:
Originally Posted by JonathanLB View Post
We did get a $2,000 stimulus after all! I thought I should follow up with that. Took about 6 weeks and yeah it’s small, but I won’t complain about any help. Help is help.

Also today was a huge day for the company, we might end up being ok from this whole situation in the long run. A potential client had reached out to us about doing a bunch of videos, but it was an internal discussion between video and Matterport tours. Today they let us know they chose video and they chose us! It’s a 6 figure deal, so a huge one for us. We got another company wanting a small video this month too as some extra nice Monday news. And we have a call this week with a different $170,000 deal we closed earlier this year but never started because of the pandemic. So lots of positive news and should help us make it through 2020 doing well.
That's great news.
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Old 05-12-2020, 07:48 AM
 
Location: New York Area
19,781 posts, read 7,765,604 times
Reputation: 14900
Quote:
Originally Posted by JonathanLB View Post
We did get a $2,000 stimulus after all! I thought I should follow up with that. Took about 6 weeks and yeah it’s small, but I won’t complain about any help. Help is help.

Also today was a huge day for the company, we might end up being ok from this whole situation in the long run. A potential client had reached out to us about doing a bunch of videos, but it was an internal discussion between video and Matterport tours. Today they let us know they chose video and they chose us! It’s a 6 figure deal, so a huge one for us. We got another company wanting a small video this month too as some extra nice Monday news. And we have a call this week with a different $170,000 deal we closed earlier this year but never started because of the pandemic. So lots of positive news and should help us make it through 2020 doing well.
Sometimes reputable, decent people, as you seem to be, do OK. We use the word "heimish."

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Old 05-12-2020, 12:46 PM
 
10,537 posts, read 14,035,851 times
Reputation: 16238
We applied when it was first introduced using a funding source recommended by one of our elected leaders. Got approved for the full amount within days. However, since our industry thrives when people are panicking and scared, business exploded to the point of a temporary hiring blitz. We decide the funds were unnecessary even though we received (political) assurances that we would never get audited on how we spent the money, so it was rejected and returned.

The question some of you need to be pressing your elected leader is what's happening with all the money supposedly being returned or rejected?
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Old 05-13-2020, 03:03 AM
 
Location: Henderson, NV
6,635 posts, read 6,728,951 times
Reputation: 8726
Much thanks, we are definitely hopeful for the future! I still feel uncomfortable about it when someone says, “Well video should be a great industry with people more nervous to meet in person!” or whatever. I don’t like the idea, I understand many companies I love like Amazon benefit from this, but it’s just gross to think of it that way. Like, no thanks I’d rather have none of this happen and nobody die from a new virus, and none of our sports canceled, and none of the 33+ million jobs lost. I don’t want to benefit from anything except hard work and dedication haha. But on the flip side I do count my blessings that I don’t run a restaurant right now or a travel agency, because I feel for those business owners. I just hope that the economic recovery is as quick as possible, even though I fear it won’t be shorter than 12-18 months.
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Old 05-18-2020, 10:14 AM
 
5,109 posts, read 3,404,798 times
Reputation: 10376
Quote:
Originally Posted by Rabrrita View Post
We applied when it was first introduced using a funding source recommended by one of our elected leaders. Got approved for the full amount within days. However, since our industry thrives when people are panicking and scared, business exploded to the point of a temporary hiring blitz. We decide the funds were unnecessary even though we received (political) assurances that we would never get audited on how we spent the money, so it was rejected and returned.

The question some of you need to be pressing your elected leader is what's happening with all the money supposedly being returned or rejected?
Well, we finally got ours this morning so thank you for sending yours back! We applied 6 weeks ago and yes we need every penny of it.
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Old 05-18-2020, 10:41 AM
 
607 posts, read 1,761,156 times
Reputation: 776
I received mine (PPP) as well on 5/8/2020 deposited into my bank account. I applied for it on April 10th.

My biggest issue is that the 8 weeks of PPP won't even begin to cover the losses as being in the state of Washington I can't even see a light at the end of the tunnel for most small businesses to start back.

Has anyone received an update or received the EDIL loan. I have an updated email from the SBA. My application number is 3600218198. I applied for it I believe around April 10th.

Karen
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