How stimulus bill will help you ** must read**

[Deleted member 121863]

The link I posted is only for the advance money. This is for the actual loan.
**broken link removed**

 

[Deleted member 121863]

Like I posted, this contractor should NOT take the loan and let all these f*cks starve. If he had them do work on his house last year, he would pay them. If he has them do the work next year, he will pay them. Right now work might be totally dry with no work for his guys. Instead he will find a way to take care of them, give them work, follow the rules to a T, THEN get criticized for being "shady", say he has no honor or integrity. WOW! What`s the difference if the program pays the labor on bosses house or the neighbors? His workers will get paid! It`s to cover payroll! To keep families eating and the economy going. I guess from the employee position you guys don`t realize all this, that`s why you are not the boss/owner.

This is a thread for business owners, contract workers, self employed, all the people saying their gym closed and can`t train people now income is dry. Y`all others can take your negativity back to some other corona thread and talk death count. You don`t understand this stuff.

 

[Crazy_jay]

Like I posted, this contractor should NOT take the loan and let all these f*cks starve. If he had them do work on his house last year, he would pay them. If he has them do the work next year, he will pay them. Right now work might be totally dry with no work for his guys. Instead he will find a way to take care of them, give them work, follow the rules to a T, THEN get criticized for being "shady", say he has no honor or integrity. WOW! What`s the difference if the program pays the labor on bosses house or the neighbors? His workers will get paid! It`s to cover payroll! To keep families eating and the economy going. I guess from the employee position you guys don`t realize all this, that`s why you are not the boss/owner.

This is a thread for business owners, contract workers, self employed, all the people saying their gym closed and can`t train people now income is dry. Y`all others can take your negativity back to some other corona thread and talk death count. You don`t understand this stuff.

Some of those loans are to help business owners with payroll so they can continue to employ their employees while times are slow. Yes, whether I do it on his dime or the govt dime, I'm working and getting paid but that money isn't intended for me to do his personal projects and if work doesn't slow down, doesnt mean he couldn't turn jobs down, claim worked slowed and have us work on his project with govt money.

As a tax payer, this will come full cycle and somewhere I will be paying additional taxes to cover this debt. My wife and I paid the federal govt over $13,000 last year and over $15,000 the year before while having to children, we also pay our fair share.

For the personal stimulus, wish they wouldn't of passed it. As long as my work doesn't slow too much, I'm working, my wife's working, we don't really need it as we haven't been effected yet but plenty of others have.

 

[aphextwin]

I don’t qualify but honestly I’m lucky that I’m one of the few who doesn’t need it.

 

[Nextlevel]

I work for a small construction company, only 5 of us. Apparently my employer wants to take advantage of the small business loan to help with payroll since we have had a few customers back out on projects, though wee currently still have a few projects. The kicker, he wants to take that money to pay us to remodel his house. Its a big project, he's been planning for a while and been talking to the bank to get a loan to get started. Now he wants to use this loan, to which, if used to help cover payroll, doesn't have to he paid back, to do his own personal project. Sounds shady as hell to me. He we are working on a personal project for him, it makes him a customer of the business and that technically means we have work as a company and shouldn't qualify for that loan to become a grant.

This loan program will get massively abused.

I’d tell my boss to get fucked. Lol

 

[EWRECK]

Freaking human nature sucks. I could probably qualify for disability now, or at least from time to time when ive been really messed up. I never applied because we don't need it. I don't believe dipping in is a good thing to go unless you absolutely have to.

Your an anomaly.

 

[buck]

Has anyone seen a date for the $1,200 per adult?

The reports I have seen mention 3 weeks till the money starts to go out. But the last time they did this it took months for many people to get the money as many of the computer systems are very out dated.

It's called honor and integrity. Too rare anymore.

maldorf is showing a great character. There may be more then you would expect as we don't hear about the good guys in the news. I am nothing special but I have passed up on money that I could have got through work blaming companies that I have worked for for aggravating injures I have caused myself. Peoples tolerance for what they can carry around for the rest of their lives varies.

 

[Crazy_jay]

I’d tell my boss to get fucked. Lol

He's a really nice guy. It'll be a really cool project. I love building/remodeling houses and plan to be working anyways, so I'll do it but I don't just dont think the govt intended for these business loans to become personal grants.

 

[MightyJohn]

Has anyone seen a date for the $1,200 per adult?

I will believe it when I see

 

[Deleted member 121863]

He's a really nice guy. It'll be a really cool project. I love building/remodeling houses and plan to be working anyways, so I'll do it but I don't just dont think the govt intended for these business loans to become personal grants.

The govt does not care if they forgive loan that pays you for remodeling his house or the Taj Mahal! The goal is to keep you employed and the economy going. Be happy and grateful to have work in a time when MILLIONS of others don`t! He is not breaking any laws or rules. If you were the boss, you would do that same thing.... Or all of you are so honorable, you would lay off workers, let them starve instead of doing what this guy does? SHUT UP!

 

[blackngold]

Soooooo...
Step 1 borrow said money at a great interest rate
Step 2 invest into real estate and get a 15% ROI which is fairly easy
Step 3 Profit?

No loan fees, guarantee fees, or prepayment penalty fees.

Am I missing something here?

.
Where and how are you getting a 15% roi in real estate that's so easy? I guess if you can flip something really quick which certainly isn't always easy. Seems like a really bold statement to me considering the housing market has been just waiting to implode again like 2007 for months and now that we have this Corona virus, who the hell knows what values will be.

 

[maldorf]

The govt does not care if they forgive loan that pays you for remodeling his house or the Taj Mahal! The goal is to keep you employed and the economy going. Be happy and grateful to have work in a time when MILLIONS of others don`t! He is not breaking any laws or rules. If you were the boss, you would do that same thing.... Or all of you are so honorable, you would lay off workers, let them starve instead of doing what this guy does? SHUT UP!

Concerning that small construction business owner using the grant money to give himself free labor, that is a crime.

What are the responsibilities of award recipients?

Recipients of federal grants have been awarded funds to carry out the goals and objectives identified in the grant. These funds are subject to certain regulations, oversight, and audit.

• Grant recipients are stewards of federal funds.
• Grant dollars must be used for their intended purpose.
• Grant recipients must account for costs and justify expenditures.

Using federal grant dollars for unjust enrichment, personal gain, or other than their intended use is a form of theft, subject to criminal and civil prosecution under the laws of the United States.

From a government website. https://www.grants.gov/learn-grants/grant-fraud/grant-fraud-responsibilities.html

That money given by the government is supposed to be for workers that are unemployed. If those 5 guys are working on the owner's home then they are not unemployed. They are doing work. Those workers should be getting paid for unemployment only. So if they are really unemployed, they are working for no pay because they would be getting paid the same government money if they were just sitting at home. That's screwing the worker.

 

[Deleted member 121863]

Using federal grant dollars for unjust enrichment, personal gain, or other than their intended use is a form of theft, subject to criminal and civil prosecution under the laws of the United States.

Nice research but this is not a grant or like any kind of loan we have ever seen before for the masses of small businesses. This is a LOAN, that is FORGIVABLE, if used for certain things. One being payroll. There is also a special program just for covering payroll. Make sure you are looking at cov19 pandemic stimulus stuff.

 

[sazo75]

.
Where and how are you getting a 15% roi in real estate that's so easy? I guess if you can flip something really quick which certainly isn't always easy. Seems like a really bold statement to me considering the housing market has been just waiting to implode again like 2007 for months and now that we have this Corona virus, who the hell knows what values will be.

Hehe, I found a few different areas, I can't give up my little spot that I have but 15% is very easy in this area, I mean really if you're investing in real estate in something that gives less than a 15% ish return, it's not worth it in my opinion, I'd rather just opt for stocks at that point.

 

[NEMSZ]

Man some of you guys really take this “honor and integrity” thing pretty far... It’s the government, they take from us and use it to their benefit, shit, in 2008-09 when congress passed that bailout money CEO’s were giving themselves 10’s of millions in bonuses... Who cares unless it really does effect you some how?

Shit, I was just telling my mom today about that $2 million max loan;

“Hey ma, you know the government is allowing up to $2 million for business to take out a loan for help?”

She looks at me weird, knowing I’m up to no good..

“I say we take that shit, pay off our properties, put them under someone else’s name so we can rent them out, and ride off into the sunset with over a cool mil. Fuck em!”

She laughs and says; “You’d have to find a place that doesn’t extradite, just in case.” Lol

 

[BALDNAZI]

Don’t qualify for the check, and don’t want it anyway. Better off with someone that truly needs.

 

[Deleted member 121863]

Don’t qualify for the check, and don’t want it anyway. Better off with someone that truly needs.

It`s only part about who "needs it" but more so about who can apply it and grow the country economically, which will benefit others. You buy RE, which is allowed with the loan, a mtg broker might make money, the title agency makes, the rehab construction guys make, the buyers makes profit and spends at service industry.

You buy new equipment for company, grow it, you can hire more people (in time). This is the goal.

 

[Mike Arnold]

For those who take the loan and are able to pay it back, it can be a business saver. For those who take the loan and can't, the Fed will OWN your business...and you. Ouch. For those who are considering this, please don't take it lightly. It's NOT free money. It has just as much potential to harm, as it does to help. Then again, this is the same risk that many people take when intially starting a business anyway. Still, I feel horribly for those bisinesses who were previously self-suficient, but who now have to go back in debt just to keep their doors open.

 

[Mike Arnold]

Yep you're right it's 100% going to get abused, it's going to be similar to back in the early 2000's when loans were flying out left and right, didn't matter if you had no credit, low credit, or delinquencies as long as you had a name, you could get a loan.

It was ridiculous back in the early 2000's! I was in the car business at the time...and peopl with 400 credit scores were getting loans for brand new cars! It was insane. Back then, even brand new salesmen could EASILY make 100K+ per year if they knew what they were doing. It was a great time in the car business. I knew at last a dozen finance and desk managers (age 21-25) who were earning 150-200K per year. Most of these guys were high school dropouts and had no skills whatsoever. All you needed was some social skills and a foundational understanding of the banking system at that time...and you were golden.

 

[concreter]

We Had a Few jobs on the books Early this Spring...Now I contact my Costumers and There All saying the Same Thing...
Were Going to Wait A While !!!
Plus how many new Calls wont happen Due to this Economy Threat!