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Posted: 1/20/2021 7:42:32 PM EDT
[#1]
You have to prove decreased revenue by like 25% though correct? Or did that not make it in
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Posted: 1/20/2021 7:44:56 PM EDT
[#2]
25% decrease.
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Posted: 1/20/2021 7:45:02 PM EDT
[#3]
Wife thinks she heard that you have to show a certain percentage of lowered sales on the year? True?
edit: Oops, answered already. thanks |
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Posted: 1/20/2021 7:45:27 PM EDT
[#4]
Quote HistoryQuoted: You have to prove decreased revenue by like 25% though correct? Or did that not make it in This is correct. 25% decreased revenue for 1 quarter in 2020. |
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Posted: 1/20/2021 7:46:40 PM EDT
[#5]
Quote HistoryQuoted: You have to prove decreased revenue by like 25% though correct? Or did that not make it in 25% less in any quarter in 2020 than any quarter in 2019. As if they would ever audit you. It’s free money from Joe. |
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Posted: 1/20/2021 7:47:59 PM EDT
[#6]
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Posted: 1/20/2021 7:48:07 PM EDT
[#7]
Quote HistoryQuoted: This is correct. 25% decreased revenue for 1 quarter in 2020. Thanks, yup already looked it over and didn’t have that this year(because 2019 was one of our worst years ever unfortunately) |
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Posted: 1/20/2021 7:49:10 PM EDT
[#8]
Yep. A friend of mine made 300% more in 2020 than he ever has in his life and still got to claim a fuck ton of PPP money because one quarter had slightly less than the previous year. He lucked out as an attorney and made almost nothing in one quarter, the same one he made almost nothing in the prior year. LOL. epic.
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Posted: 1/20/2021 7:49:16 PM EDT
[#9]
Quote HistoryQuoted: Thanks, yup already looked it over and didn't have that this year(because 2019 was one of our worst years ever unfortunately) Quote HistoryQuoted: Quoted: This is correct. 25% decreased revenue for 1 quarter in 2020. Thanks, yup already looked it over and didn't have that this year(because 2019 was one of our worst years ever unfortunately) |
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Posted: 1/20/2021 7:49:57 PM EDT
[#10]
Aside from the economic implications I can’t wait until it’s done because it’s occupying some of my critical resources.
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Posted: 1/20/2021 7:50:09 PM EDT
[#11]
Noted. Passing along info. Thanks!
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Posted: 1/20/2021 7:53:04 PM EDT
[#12]
Thanks for the heads up.
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Posted: 1/20/2021 7:54:48 PM EDT
[#13]
Between both rounds I’ve gotten close to a million dollars.
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Posted: 1/20/2021 7:56:19 PM EDT
[#14]
Shit or get off the pot boys.... Money is flying off the tables. Our banks PPP loan website has taken us 6hrs to get onto.
Free $100k here and a free $100k there. Help this country max out its credit cards. |
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Posted: 1/20/2021 7:56:27 PM EDT
[#15]
The juice wasn't worth the squeeze. I jumped on it quick, when you had to go through the full SBA small loan app they were using as a template. It was digging up 3 years of business and personal taxes, payroll, rafts of paperwork. My kitchen table was half covered with shit. I blew through printer ink like it was coke on Hunter Biden's coffee table.
I know it got easier quickly with the banks doing a lot of it for their cut, and the government loosening up to get $$$ out there, but the very first early round was more work than it was worth. I'm out. Not doing the second round. Fuck the government. If I was on public assistance, there would be not .01% of the paperwork and I would get it for life for doing nothing. PPP is everything wrong with this country. I'll make it on my own, offer cash discounts and fuck the system how ever I can. |
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Posted: 1/20/2021 7:58:19 PM EDT
[#16]
Quote HistoryQuoted: Between both rounds I’ve gotten close to a million dollars. 
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Posted: 1/20/2021 8:02:50 PM EDT
[#17]
Quote HistoryQuoted: The juice wasn't worth the squeeze. I jumped on it quick, when you had to go through the full SBA small loan app they were using as a template. It was digging up 3 years of business and personal taxes, payroll, rafts of paperwork. My kitchen table was half covered with shit. I blew through printer ink like it was coke on Hunter Biden's coffee table. I know it got easier quickly with the banks doing a lot of it for their cut, and the government loosening up to get $$$ out there, but the very first early round was more work than it was worth. I'm out. Not doing the second round. Fuck the government. If I was on public assistance, there would be not .01% of the paperwork and I would get it for life for doing nothing. PPP is everything wrong with this country. I'll make it on my own, offer cash discounts and fuck the system how ever I can. First round was maybe 30min for a free $85k. That’s $2800 a minute and I type like a blind elephant. Probably could have cleared $3500/min if I didn’t hunt and peck with my sausage fingers. |
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Posted: 1/20/2021 8:02:50 PM EDT
[#18]
Quote HistoryQuoted: 25% less in any quarter in 2020 than any quarter in 2019. As if they would ever audit you. It’s free money from Joe. They won't audit you to get it. But they will audit you when you apply for forgiveness. And if you can't show it, you pay it back. |
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Posted: 1/20/2021 8:04:50 PM EDT
[#19]
Quote HistoryQuoted: Thanks, yup already looked it over and didn't have that this year(because 2019 was one of our worst years ever unfortunately) |
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Posted: 1/20/2021 8:04:59 PM EDT
[#20]
Quote HistoryQuoted: They won't audit you to get it. But they will audit you when you apply for forgiveness. And if you can't show it, you pay it back. Quote HistoryQuoted: Quoted: 25% less in any quarter in 2020 than any quarter in 2019. As if they would ever audit you. It’s free money from Joe. They won't audit you to get it. But they will audit you when you apply for forgiveness. And if you can't show it, you pay it back. And you already know how they will decide who gets audited and who doesn't |
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Posted: 1/20/2021 8:05:34 PM EDT
[#21]
Quote HistoryQuoted: They won't audit you to get it. But they will audit you when you apply for forgiveness. And if you can't show it, you pay it back. Can’t audit me if the president gives it to me. |
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Posted: 1/20/2021 8:05:58 PM EDT
[#22]
Quote HistoryQuoted: First round was maybe 30min for a free $85k. That’s $2800 a minute and I type like a blind elephant. Probably could have cleared $3500/min if I didn’t hunt and peck with my sausage fingers. I hear that a lot. I know what I had to submit. I did it myself. It was not that easy for me to get it through. And I got everything right, with just one other supporting document to submit. I wish it was as easy as a lot of people tell me it was. At the time I did it, very early on, it was a lot of work and hassle. |
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Posted: 1/20/2021 8:07:15 PM EDT
[#23]
Quote HistoryQuoted: You could have deferred revenue from Q4 into 2021 and still qualified. Just need 25% less on paper. 
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Posted: 1/20/2021 8:08:19 PM EDT
[#24]
Quote HistoryQuoted: I hear that a lot. I know what I had to submit. I did it myself. It was not that easy for me to get it through. And I got everything right, with just one other supporting document to submit. I wish it was as easy as a lot of people tell me it was. At the time I did it, very early on, it was a lot of work and hassle. Seriously, call your banker. Ours has a website setup. Very easy. |
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Posted: 1/20/2021 8:08:19 PM EDT
[#25]
Quote HistoryQuoted: Between both rounds I’ve gotten close to a million dollars. Holy Moses. What kind of business? |
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Posted: 1/20/2021 8:08:21 PM EDT
[#26]
Quote HistoryQuoted: I hear that a lot. I know what I had to submit. I did it myself. It was not that easy for me to get it through. And I got everything right, with just one other supporting document to submit. I wish it was as easy as a lot of people tell me it was. At the time I did it, very early on, it was a lot of work and hassle. You need a better banker/accountant. My folks had the shit done before it went live, all I had to do was go sit in the bank and the moment it went online I signed and we were done. |
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Posted: 1/20/2021 8:09:16 PM EDT
[#27]
Quote HistoryQuoted: Holy Moses. What kind of business? Probably one man and a van house painting. Free Biden bucks bro. Get in on the action. |
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Posted: 1/20/2021 8:10:21 PM EDT
[#28]
Quote HistoryQuoted: Holy Moses. What kind of business? Heavy equipment sales and service. Corona downturn really hit me hard, this legitimately kept me from having to lay off a bunch of people. |
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Posted: 1/20/2021 8:11:39 PM EDT
[#29]
Quote HistoryQuoted: The juice wasn't worth the squeeze. I jumped on it quick, when you had to go through the full SBA small loan app they were using as a template. It was digging up 3 years of business and personal taxes, payroll, rafts of paperwork. My kitchen table was half covered with shit. I blew through printer ink like it was coke on Hunter Biden's coffee table. I know it got easier quickly with the banks doing a lot of it for their cut, and the government loosening up to get $$$ out there, but the very first early round was more work than it was worth. I'm out. Not doing the second round. Fuck the government. If I was on public assistance, there would be not .01% of the paperwork and I would get it for life for doing nothing. PPP is everything wrong with this country. I'll make it on my own, offer cash discounts and fuck the system how ever I can. I felt like this first time around too, we didn't need the money so I said fuck that. This time, I'm putting my partner on the task but have one quick question. Is it a LOAN or FREE fucking $$$? |
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Posted: 1/20/2021 8:12:47 PM EDT
[#30]
Reward failing businesses, what could go wrong
Wonder what leverage they could use this as in the future |
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Posted: 1/20/2021 8:12:56 PM EDT
[#31]
Quote HistoryQuoted: Seriously, call your banker. Ours has a website setup. Very easy. Other than a business bank account, my bank probably doesn't know I exist. I've never needed a loan from them. Never even applied for a line of credit. Never needed a loan for any vehicle or equipment. I've been solvent and profitable from day 1. So my relationship with my bank is very basic. Money in, money out. Maybe 4 checks a year. I've just never needed them for anything. Maybe that's why. I may have flown under the radar. |
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Posted: 1/20/2021 8:12:59 PM EDT
[#32]
Quote HistoryQuoted: I felt like this first time around too, we didn't need the money so I said fuck that. This time, I'm putting my partner on the task but have one quick question. Is it a LOAN or FREE fucking $$$? Both or neither depending on your circumstances. |
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Posted: 1/20/2021 8:13:07 PM EDT
[#33]
Quote HistoryQuoted: 25% less in any quarter in 2020 than any quarter in 2019. As if they would ever audit you. It’s free money from Joe. There's been more than one person that's been jailed for fraud and PPP |
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Posted: 1/20/2021 8:13:16 PM EDT
[#34]
Oh my buddy will like collecting this one too, go into work for 6 hours a week and collect a pay check. It will not last, in 3 to 6 months the cnc machine shop will be closed again and he'll be out of work.
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Posted: 1/20/2021 8:16:52 PM EDT
[#35]
I passed on the first one. Probably will this one too. Stupid I guess?
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Posted: 1/20/2021 8:24:26 PM EDT
[#36]
Quote HistoryQuoted: Both or neither depending on your circumstances. Care to elaborate? We just started discussing briefly today but looks like we can qualify for the 25% quarterly bit but that's really just because we are seasonal, and get large contracts in different quarters from year to year. Technically, we were up about 50% in revenue from 2019 to 2020. |
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Posted: 1/20/2021 8:31:26 PM EDT
[#37]
Quote HistoryQuoted: Care to elaborate? We just started discussing briefly today but looks like we can qualify for the 25% quarterly bit but that's really just because we are seasonal, and get large contracts in different quarters from year to year. Technically, we were up about 50% in revenue from 2019 to 2020. You really need to discuss it with an accountant, it’s really dependent on your situation. Even if it’s a loan, it’s still super cheap money and is silly to turn it down. |
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Posted: 1/20/2021 8:33:36 PM EDT
[#38]
Quote HistoryQuoted: You really need to discuss it with an accountant, it’s really dependent on your situation. Even if it’s a loan, it’s still super cheap money and is silly to turn it down. Good enough, we gonna investigate starting tomorrow. We do have a great accountant. Thanks |
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Posted: 1/20/2021 8:36:16 PM EDT
[#39]
Sink this bitch !
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Posted: 1/20/2021 8:44:45 PM EDT
[#40]
Does dominion have software you can use to prove an 87% decline?
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Posted: 1/20/2021 9:08:41 PM EDT
[#41]
Wife got the first one. While it wasn't huge $, it allowed her to keep almost all her staff and pay some bills. My wife still lost about 40k (take home) compared to what she took home last year. She qualified for this round as well.
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Posted: 1/20/2021 9:25:42 PM EDT
[#42]
Quote HistoryQuoted: Does dominion have software you can use to prove an 87% decline? Hahaha! 
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Posted: 1/20/2021 9:27:49 PM EDT
[#43]
Quote HistoryQuoted: Other than a business bank account, my bank probably doesn't know I exist. I've never needed a loan from them. Never even applied for a line of credit. Never needed a loan for any vehicle or equipment. I've been solvent and profitable from day 1. So my relationship with my bank is very basic. Money in, money out. Maybe 4 checks a year. I've just never needed them for anything. Maybe that's why. I may have flown under the radar. I have my bank rep’s cell number and coyote hunt with him. I did not know him before I did business with the bank. Business relationships are critical. Accountant and lawyer are in the same boat. |
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Posted: 1/20/2021 9:28:55 PM EDT
[#44]
Quote HistoryQuoted: There's been more than one person that's been jailed for fraud and PPP That’s because it racist trump and they were probably proud boys. Different times now bud, uncle joe has our backs. |
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Posted: 1/20/2021 9:32:11 PM EDT
[#45]
My business is booming. Didnt take it 1st round and wont this time.
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Posted: 1/20/2021 9:32:31 PM EDT
[#46]
Someone please explain the 25% loss in revenue? Is it for the entire year or only ONE QUARTER?
For the year I was up 1.5mil. For 1st quarter I was down 30% over 2019's 1st qtr. Also what is this deferred income to move to 2021 you speak of? |
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Posted: 1/20/2021 9:36:49 PM EDT
[#47]
Quote HistoryQuoted: Someone please explain the 25% loss in revenue? Is it for the entire year or only ONE QUARTER? For the year I was up 1.5mil. For 1st quarter I was down 30% over 2019's 1st qtr. Also what is this deferred income to move to 2021 you speak of? That first quarter loss allows you to qualify |
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Posted: 1/20/2021 9:48:10 PM EDT
[#48]
Our Q2 was down 25.011% year over year
. Whole year was slightly up.We applied on Friday  |
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Posted: 1/20/2021 9:51:26 PM EDT
[#49]
Quote HistoryQuoted: Yep. A friend of mine made 300% more in 2020 than he ever has in his life and still got to claim a fuck ton of PPP money because one quarter had slightly less than the previous year. He lucked out as an attorney and made almost nothing in one quarter, the same one he made almost nothing in the prior year. LOL. epic. If you can't beat 'em, bankrupt 'em. |
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Posted: 1/20/2021 9:52:01 PM EDT
[#50]
Quote HistoryQuoted: 25% decrease. FJB |
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