Stimulus checks

buggravy said:
Did it say if that was the PPP loan, or EIDL? That EIDL loan seems like a joke, and the criteria seemed to change drastically after it was released.

Reading more about the PPP loan, it kind of sounds like additional funding for the program is imminent. The document I received from my bank said I was approved for the full amount that I applied for, but it's unclear if that means approved by them (the lender) but still has to be processed by the SBA, or if it's fully approved. No funds as of this morning, regardless.
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I honestly don't know if it was mentioned or now. I'm not a small business owner so I wasn't listening for those kinds of details.

Also, it was a sample size of one. But it sounds like there is a lot of frustration out there. Which, given the support we'll likely give to large companies (like Boeing), it is frustrating. Small businesses are the largest employers. I'd rather all the money go bottom up (poorest people, and up the chain starting with the smallest businesses) rather than top down.
 
Cornholio said:
My dad filed with three different banks for the PPP loan and a bank in Utah was as he said “all over it” and made it happen for them. He heard back last Friday when they filed though. I know a local brewery, Tustin brewing co, got theirs done from the small bank they share a parking lot with. No clue how it works but maybe it has to do with volume of applicants per institution.

Fingers crossed for you, hope it works out.
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Curious which bank out of Utah? I work for a Bank based out of Utah and I can say regarding the PPP loans we certainly made it happen for our customers and applicants. Hearing secondary stories about people dealing with the big banks and it sounds like a complete nightmare.
 
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https://nypost.com/2020/04/17/potbellys-ruths-chris-snag-coronavirus-loans-meant-for-small-business/
 
G Haymond said:
Curious which bank out of Utah? I work for a Bank based out of Utah and I can say regarding the PPP loans we certainly made it happen for our customers and applicants. Hearing secondary stories about people dealing with the big banks and it sounds like a complete nightmare.
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Just got off the phone with him and he said a company named Lendeo (sp?). Wells is their normal bank for the business and they weren’t communicating well which is why they reached out to others. Apparently they received some sort of loan/fund confirmation number or something along those lines that confirmed they got in before the cutoff.
 
Sidewalk said:
Which, given the support we'll likely give to large companies (like Boeing), it is frustrating. Small businesses are the largest employers. I'd rather all the money go bottom up (poorest people, and up the chain starting with the smallest businesses) rather than top down.
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Air travel is down 95%. How many hundreds of thousands of people do the airlines employ, and how many millions in the businesses affected by that, and how many planes is Boeing not selling that they've already built, with the millions of direct and indirect employees affected? I wasn't going to say anything, but good lord, do you really think that the corporations that employ that many people should get a sharp stick up the ass?

Holy F*ck. And we wonder why we're screwed.
 
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Runs with Scissors said:
Air travel is down 95%. How many hundreds of thousands of people do the airlines employ, and how many millions in the businesses affected by that, and how many planes is Boeing not selling that they've already built, with the millions of direct and indirect employees affected? I wasn't going to say anything, but good lord, do you really think that the corporations that employ that many people should get a sharp stick up the ass?

Holy F*ck. And we wonder why we're screwed.
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Mark, how many months do you give humanity before cannibalism sets in? :eek:
 
I only mention this to provide some hope to those with applications in, but currently in limbo. The full amount of my application hit my account overnight. That was an incredibly pleasant surprise. Props to Citibank for pulling this off. Aside from some fretting, it was a really painless process.
 
buggravy said:
I only mention this to provide some hope to those with applications in, but currently in limbo. The full amount of my application hit my account overnight. That was an incredibly pleasant surprise. Props to Citibank for pulling this off. Aside from some fretting, it was a really painless process.
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That’s great news. I applied late which did not help my cause. However, another round of funds is being organized by our Govt right now. My application is already in line for the next round when it gets here.
 
Cornholio said:
Just got off the phone with him and he said a company named Lendeo (sp?). Wells is their normal bank for the business and they weren’t communicating well which is why they reached out to others. Apparently they received some sort of loan/fund confirmation number or something along those lines that confirmed they got in before the cutoff.
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Yeah if he received an SBA application number, he will receive loan disbursements with the original funds. The Bank I work for is still working on processing all the apps that didn't get through the first round with the assumption that the SBA will re-up the funds by an additional $250B as early as Monday morning.
 
buggravy said:
I only mention this to provide some hope to those with applications in, but currently in limbo. The full amount of my application hit my account overnight. That was an incredibly pleasant surprise. Props to Citibank for pulling this off. Aside from some fretting, it was a really painless process.
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I am stoked to hear stories like this. I have been working pretty long hours (very thankful to have a job) processing these ppp apps for the past two weeks so it is satisfying to have some part in helping people out.
 
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G Haymond said:
I am stoked to hear stories like this. I have been working pretty long hours (very thankful to have a job) processing these ppp apps for the past two weeks so it is satisfying to have some part in helping people out.
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You're doing the lord's work. Seriously though, kudos for burning the midnight oil on this. I can tell you this was somewhat of a game changer for me, so for those that you're making this happen for rest assured that you're providing some meaningful peace of mind :thumbsup:.
 
Runs with Scissors said:
Air travel is down 95%. How many hundreds of thousands of people do the airlines employ, and how many millions in the businesses affected by that, and how many planes is Boeing not selling that they've already built, with the millions of direct and indirect employees affected? I wasn't going to say anything, but good lord, do you really think that the corporations that employ that many people should get a sharp stick up the ass?

Holy F*ck. And we wonder why we're screwed.
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Well, why didn't they have 6 months worth of money saved up?

Anyway, if that is the case, maybe giving money to the bottom to get people to start flying again after this goes away is better than propping up a corporation that has been cutting corners with safety for years? Should we really be bailing out an industry that is such a gross polluter as well? Air travel is the least efficient mode of transportation. That's rhetorical, by the way. I haven't been on a plane in years, and have no motivation to.

Yes, I do think they should get the shaft. But then again, most of our lives revolve around consumerism. And while it would be nice if this shutdown gave us pause to think about what is important in life (hint: working 60+ hours a week to buy more toys isn't it), I don't see things changing. I'm guessing we'll go right back to the way we were before. And the cycle of boom and bust will continue, and the people at the bottom will always be the victims.

FYI, the airline industry is what employs me.
 
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