How is everyone doing during this lockdown?

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** This is not intended to be a political post **

My wife's application for the SBA loan seemed to be making progress earlier in the week, but the program is set to run out of money today. So unless the program receives more funding, she will continue to hang on with barely enough revenue to play her minions and continuing to go without her own paycheck while trying to stay open.

The rant I have is that banks have handed out money to entities which should not be having a hand out. One especially irritating case is the law firm that her college roommate works at. It's a high end firm that rakes in 10's of millions in profits every year and they were fast tracked for a $2M loan. My wife only needs $40K to get past 2 months. But big money clients get the priority from the banks.

Rant over, any discussion over who's at fault can go to the politics forum.
 
mikiemo83 said:
I think a lot of places are pushing this out until May 31st.

Scary

I agree, the work from home is nice to keep it going but the truth is it is easier to go into the vast library of info we have and get an answer.
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We are going back May 4th, (May the 4th Be With You is big at my work :jedi-smiley:) as of right now. I think it will get pushed back (again) early next week. I'm ok with it. Not happy, but I have ben doing fine working from home. I do miss a lot of the people I work with though. Staying in touch through instant messages and calls just not the same.
 
bideau said:
** This is not intended to be a political post **

My wife's application for the SBA loan seemed to be making progress earlier in the week, but the program is set to run out of money today. So unless the program receives more funding, she will continue to hang on with barely enough revenue to play her minions and continuing to go without her own paycheck while trying to stay open.

The rant I have is that banks have handed out money to entities which should not be having a hand out. One especially irritating case is the law firm that her college roommate works at. It's a high end firm that rakes in 10's of millions in profits every year and they were fast tracked for a $2M loan. My wife only needs $40K to get past 2 months. But big money clients get the priority from the banks.

Rant over, any discussion over who's at fault can go to the politics forum.
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This SUCKS!!!
Did the loans not take into account firm revenue/staffing, etc???
Nutty!!!!!!
 
HSanders said:
This SUCKS!!!
Did the loans not take into account firm revenue/staffing, etc???
Nutty!!!!!!
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No idea, but banks have been clearly prioritizing their bigger clients. I understand that thinking, big law firm says take care of me or I move my money. Supposedly most banks are processing on a first come, first served basis, including her bank, but that's not what's happening for most small businesses.

My issue is with the greed of many of these "small businesses" who clearly don't need the cash infusion but are taking full advantage of the fact that all that's required is a checkbox that they need the cash without any evidence. There are stories of hedge fund managers getting large loans even though it's business as usual for them.

It is what it is. I know my wife's dedication to her agency (her life's work) and know that she will never close the doors until she can't pay the rent and utilities anymore even if she has to work for nothing to do it. But the impact is becoming personal.
 
They should publish a list of everyone who got a loan(if that is considered public info) and let consumers decide if they will patronize those businesses. I sure in hell would avoid "muckity muck and assoc." if i knew their taking that money kept a business that needed it from getting it.
 
My wife received notice yesterday afternoon that her loan request was approved by the SBA. We're not entirely sure what that means relative to the funding running out. We're hoping that her request just made it under the wire and that funds were set aside. We assume it would not have been approved without the funds being available. She has to wait for another email indicating that the funds have been deposited into the agency account. I've read that it can take up to 10 days.

This loan will be the lifeline for her agency and she's feeling optimistic for the first time in several weeks.
 
Brockton, MA is now under a curfew ordered by the mayor.

It's my hometown, I don't live there anymore, I live in the free state of NH, thank God, but my my older mom does.

This won't affect her as she can't see well enough at night to drive. But this is getting crazy.
 
Beaglebay said:
Yeah--not every restaurant is equipped to run take-out only service, but we stayed flexible and learned as we went along. There are 4-5 of us actually working (out of 25), and the rest of the staff are collecting, if eligible. Many have a second job and are working there.



Most restaurants around us stayed open for a while, but their staff ultimately refused to work. We are relatively small (occupancy 75), but our kitchen is super efficient, and we've streamlined our available menu. Prime rib is our biggest seller, but the seafood is strong also. We are selling bottles of wine half-price, and 6-packs of beer for $7.





We are pulling in 1/3 of our usual money in sales, but I think we'll be fine.
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We've been getting takeout from the restaurants & bars that have it and have bought gift certificates and merchandise from those that don't.
My wife and I are employed and working from home, but I really feel for the folks at all the places we frequent- it's got to be tough.
Hang in there!

Sent from my moto z3 using Tapatalk
 
johnlocke said:
Brockton, MA is now under a curfew ordered by the mayor.

It's my hometown, I don't live there anymore, I live in the free state of NH, thank God, but my my older mom does.

This won't affect her as she can't see well enough at night to drive. But this is getting crazy.
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City of Champions.

25 mins away in America’s Hometown.

Hope she’s well.
 
bideau said:
My wife received notice yesterday afternoon that her loan request was approved by the SBA. We're not entirely sure what that means relative to the funding running out. We're hoping that her request just made it under the wire and that funds were set aside. We assume it would not have been approved without the funds being available. She has to wait for another email indicating that the funds have been deposited into the agency account. I've read that it can take up to 10 days.

This loan will be the lifeline for her agency and she's feeling optimistic for the first time in several weeks.
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Boo-yah!

And good luck with the getting paid part

Cheers, :toast:
 
bideau said:
My wife received notice yesterday afternoon that her loan request was approved by the SBA. We're not entirely sure what that means relative to the funding running out. We're hoping that her request just made it under the wire and that funds were set aside. We assume it would not have been approved without the funds being available. She has to wait for another email indicating that the funds have been deposited into the agency account. I've read that it can take up to 10 days.

This loan will be the lifeline for her agency and she's feeling optimistic for the first time in several weeks.
Click to expand...
hope this works out and the stimulus money goes to a company that needs it, not wants it.
 
I've been retired from teaching for a couple of years, and have substituted a few times (for a couple of weeks last September, for instance). But now it's all distance learning. I can't go to the gym, but I get out just about every day-supermarket, etc. We order out once in a while. My wife is working from home, so that's a change for me (a nice one), and I'm doing okay. You know, check my temperature once in a while, lots of tv (I'm sure that's making me So much smarter!), play the guitar once in a while, and use the internet (not that much different from before the big virus)! We go out for walks once in a while-but some parks are closed. We went to one we like a couple of weeks ago, but it was closed.

Watching a little Jeopardy right now.....everybody, keep on trucking'.
 
Super Bowl XLIX tonight on NBCSportsNetwork

EV6VrAFWkAMOVtO
 
All the SBA stuff is slowly working it's way through the system. My wife had applied for the EIDL loan (an advance on the PPP) about 4 weeks ago, never heard anything and since that program was by all accounts a shit show, she assumed that was dead. But money suddenly showed up in the agency bank account overnight. That will keep her going for 2 weeks. The PPP loan is also moving and the deposit is expected sometime in the next week.

So it's now likely that her agency will survive this, she can give herself a paycheck for the first time this month and a big weight is off her shoulders.
 
bideau said:
All the SBA stuff is slowly working it's way through the system. My wife had applied for the EIDL loan (an advance on the PPP) about 4 weeks ago, never heard anything and since that program was by all accounts a shit show, she assumed that was dead. But money suddenly showed up in the agency bank account overnight. That will keep her going for 2 weeks. The PPP loan is also moving and the deposit is expected sometime in the next week.

So it's now likely that her agency will survive this, she can give herself a paycheck for the first time this month and a big weight is off her shoulders.
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Great. :thumb:
 
bideau said:
All the SBA stuff is slowly working it's way through the system. My wife had applied for the EIDL loan (an advance on the PPP) about 4 weeks ago, never heard anything and since that program was by all accounts a shit show, she assumed that was dead. But money suddenly showed up in the agency bank account overnight. That will keep her going for 2 weeks. The PPP loan is also moving and the deposit is expected sometime in the next week.

So it's now likely that her agency will survive this, she can give herself a paycheck for the first time this month and a big weight is off her shoulders.
Click to expand...

Huzzah!
 
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