Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 329493 times)

Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #200 on: April 21, 2020, 02:51:25 PM »
Yes. I was saying that a lot of people who applied through CrossRiver thought they didn't get approved (because of the announcement that funding ran out), but they just hadn't been notified.

Right. But because the bank first reviews and signs off on the applications before submitting them to the SBA who needs to actually approve them, “approved by CrossRiver” might be misinterpreted.

Offline ltttc

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #201 on: April 21, 2020, 03:14:21 PM »
A) Not sure about your childs school, but we do get a letter a few times a year for fundraising. Raffle by Chanuka, dinner in the winter, gifts for the rebbiem/teachers for yom tovim, etc. 

B) Schools should be more transparent with their financing.

C) No one is saying that it doesnt takes mesiras nefesh and stress to run a school. But you know what also takes stress and mesiras nefesh? Running fiances for your family. Especially during a global pandemic when people are suffering financially. Just like we should acknowledge our schools mesiras nefesh (which the school gently reminds us a few times a year) here in an unprecedented situation, where the schools are probably getting funding, it would be nice from them to acknowledge us as well.
I don't like saying this, but you obviously don't begin to know a thing about the inside working of mosdoses, so I'll just answer but don't know if youll understand.

A)I'm "sure" you generously donate each time you get those letters from the school. (And if we do, we probably feel like we did s/t super special, when in essence it's only to fill the gap to cover the costs of our children's tuition - which no matter how much (or little!) we pay, does NOT cover the actual cost.)

B) If they would, you would be blown away and wonder how they can continue to operate with such enormous deficits. You would be tempted to pull your kids out and find them a diff school, only to be shown a very similar balance sheet by e/school.

C) I often marvel at those who lash out at schools for charging "so much" (Almost every school I know has to fundraise just to cover the gap of what we pay in tuition to what it actually costs!!! Which means the school have to shnor or borrow for your child and my child and e/o elses!!!) Why don't we lash out at the grocer for charging so much? They are making a profit, the schools are not. Why don't we lash out at the banks for charging interest, at the clothing stores, hotels, utility companies...-You get the idea?

The one "industry" that is charging us less than the actual cost -(Yes, they accept our children and educate them at a LOSS!) is the one that gets all the slack. Kind of ironic, no?

Offline aygart

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #202 on: April 21, 2020, 03:17:21 PM »
I don't like saying this, but you obviously don't begin to know a thing about the inside working of mosdoses, so I'll just answer but don't know if youll understand.

A)I'm "sure" you generously donate each time you get those letters from the school. (And if we do, we probably feel like we did s/t super special, when in essence it's only to fill the gap to cover the costs of our children's tuition - which no matter how much (or little!) we pay, does NOT cover the actual cost.)

B) If they would, you would be blown away and wonder how they can continue to operate with such enormous deficits. You would be tempted to pull your kids out and find them a diff school, only to be shown a very similar balance sheet by e/school.

C) I often marvel at those who lash out at schools for charging "so much" (Almost every school I know has to fundraise just to cover the gap of what we pay in tuition to what it actually costs!!! Which means the school have to shnor or borrow for your child and my child and e/o elses!!!) Why don't we lash out at the grocer for charging so much? They are making a profit, the schools are not. Why don't we lash out at the banks for charging interest, at the clothing stores, hotels, utility companies...-You get the idea?

The one "industry" that is charging us less than the actual cost -(Yes, they accept our children and educate them at a LOSS!) is the one that gets all the slack. Kind of ironic, no?


This comes back to what I have said numerous times. It is the PARENT's responsibility to take care of the chinuch of their child, NOT THE SCHOOL ADMIN's! You need to make sure that there is a viable school for your child.
Feelings don't care about your facts

Offline Shua

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #203 on: April 21, 2020, 04:01:16 PM »
I don't like saying this, but you obviously don't begin to know a thing about the inside working of mosdoses, so I'll just answer but don't know if youll understand.

A)I'm "sure" you generously donate each time you get those letters from the school. (And if we do, we probably feel like we did s/t super special, when in essence it's only to fill the gap to cover the costs of our children's tuition - which no matter how much (or little!) we pay, does NOT cover the actual cost.)

B) If they would, you would be blown away and wonder how they can continue to operate with such enormous deficits. You would be tempted to pull your kids out and find them a diff school, only to be shown a very similar balance sheet by e/school.

C) I often marvel at those who lash out at schools for charging "so much" (Almost every school I know has to fundraise just to cover the gap of what we pay in tuition to what it actually costs!!! Which means the school have to shnor or borrow for your child and my child and e/o elses!!!) Why don't we lash out at the grocer for charging so much? They are making a profit, the schools are not. Why don't we lash out at the banks for charging interest, at the clothing stores, hotels, utility companies...-You get the idea?

The one "industry" that is charging us less than the actual cost -(Yes, they accept our children and educate them at a LOSS!) is the one that gets all the slack. Kind of ironic, no?

A) Being sarcastic with an Ad Hominem attack does not change the argument. You don't know how much I pay for Tuition or much I give in donations.

B) If parents knew there was a deficient every year and exactly how much, they would be much more willing to pay. I hardly think I would be "tempted to pull my kids out of the school". I would be more agreeable to the higher tuition costs.

C) Yes I understand that it's hard to raise money to cover costs for the yeshiva. But that doesn't mean that the same mosdos could acknowledge that we are in a difficult time. Are costs lower now? Yes. Are many of their expenses being paid for. Yes. Are families struggling more than usual? Also yes.

Just because I want the Yeshivas to acknowledge that we are going through a hard time doesn't mean that I don't understand that they usually have a hard time. I understand that the Yeshivas need to fundraise. Why are you getting all defensive when I ask the Yeshivas to acknowledge our hardships? 
« Last Edit: April 21, 2020, 04:05:16 PM by Shua »

Offline ltttc

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #204 on: April 21, 2020, 04:08:59 PM »
Just because I want the Yeshivas to acknowledge that we are going through a hard time doesn't mean that I don't understand that they usually have a hard time. I understand that the Yeshivas need to fundraise. Why are you getting all defensive when I ask the Yeshivas to acknowledge our hardships?

I don't like saying this, but you obviously don't begin to know a thing about the inside working of mosdoses, so I'll just answer but don't know if youll understand.

I guess I was right about the above

Offline Shua

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #205 on: April 21, 2020, 04:13:13 PM »
I guess I was right about the above

Fantastic argument

Offline TBD

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #206 on: April 21, 2020, 04:17:51 PM »
https://forums.dansdeals.com/index.php?topic=115785.0

Please continue the Mosdos arguments in new thread and lets keep this thread for what it was intended to. Thanks

Offline CountValentine

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #207 on: April 21, 2020, 04:26:42 PM »
They are claiming the burn rate is 50 billion a day. When is enough, enough?
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #208 on: April 21, 2020, 04:50:19 PM »
Anyone here 1099, K1, Schedule C etc who got approved for PPP?

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #209 on: April 21, 2020, 04:54:05 PM »
Thoughts on the possibility of legitimately doing Unemployment before and after those 8 weeks of PPP?

Offline TBD

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #210 on: April 21, 2020, 04:57:55 PM »
They are claiming the burn rate is 50 billion a day. When is enough, enough?
You cant know as ppl could have applied by multiple banks and each bank includes them in their existing outstanding applications calculations.

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #211 on: April 21, 2020, 05:08:08 PM »
Anyone here 1099, K1, Schedule C etc who got approved for PPP?
You can apply if you have k1 or schedule c?

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #212 on: April 21, 2020, 05:08:53 PM »
You cant know as ppl could have applied by multiple banks and each bank includes them in their existing outstanding applications calculations.
We know they ran out already and a sure bet is they will run out what was passed today. This can't go on forever.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline hvaces42

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #213 on: April 21, 2020, 05:11:24 PM »
I applied, they pulled my Experian report two days ago and got funded today.
Just notified that they pulled mine today. Small loan so lets see. Under 10k.
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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #214 on: April 21, 2020, 05:16:53 PM »
You can apply if you have k1 or schedule c?
According to the rules yes, but wondering if they're pushing those to the back of the pile.

Offline sillypainter

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #215 on: April 21, 2020, 05:16:57 PM »
You can apply if you have k1 or schedule c?

I don't think K1 applies to the PPP loan, at least I didn't count it when I applied. I can't seem to find info anywhere on the web, but I don't think you can count it, so I did not include it in my application owith Chase. Did anybody apply with a K1 and have a single S-Corp and got approved by a bank?

Offline sillypainter

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #216 on: April 21, 2020, 05:17:39 PM »
According to the rules yes, but wondering if they're pushing those to the back of the pile.

Please point me to the rules regarding K1, can't seem to find any online.

Offline hvaces42

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #217 on: April 21, 2020, 05:19:39 PM »
According to the rules yes, but wondering if they're pushing those to the back of the pile.
I applied based on K-1. They pulled credit so we shall see.
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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #218 on: April 21, 2020, 05:20:21 PM »
Please point me to the rules regarding K1, can't seem to find any online.
https://www.univest.net/paycheck-protection-program

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #219 on: April 21, 2020, 05:27:41 PM »
There are 2 diff things here. There is adding k1 to business ppp. We did not do that based on different advice and research.
Here it seems that the recipient ok K1 can apply for his own ppp like someone who gets 1099. Is that true?
Ty