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Covid-19 relief package for small businesses

robert843 said:
I think there were a lot of companies given way more money then they need which has hurt this. A business I know probably has an operating cost of maybe $30K a month in full operation right now their operating cost is around 10-15K a month and they were loaned over 500k I just found out today. Thats way more then they should get as they still have income coming in so this is probably enough for them to run for close to three to four years at the current limited capacity.
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For context on the amount of loans. My bank a very small bank, they did over 250 loans. His largest loan was 2.1 million, this was not a current customer either. He said if they do another package, which they probably will. He already has 9 million in loans waiting. This is a very small bank like I said, we can only guess what larger regional banks and national banks as far as amount of loans. Its a 1 percent loan from the SBA. The typical SBA loan interest rate was 6 percent. As soon as this was even talked about, I knew it was going to be a free for all. The term, "First come, first served." is what stuck in my head.

Also 2.1 mil is a 840,000 per month in salaries. My bet is that its a oil company.
 
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robert843 said:
I think there were a lot of companies given way more money then they need which has hurt this. A business I know probably has an operating cost of maybe $30K a month in full operation right now their operating cost is around 10-15K a month and they were loaned over 500k I just found out today. Thats way more then they should get as they still have income coming in so this is probably enough for them to run for close to three to four years at the current limited capacity.
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That's what the problem is Like I said before I know iof companies that a applied and received large amounts and don't even need it Their busy suffers nothing during this. Sucks but go figure. Rich get richer right?
 
Bearsar240 said:
That's what the problem is Like I said before I know iof companies that a applied and received large amounts and don't even need it Their busy suffers nothing during this. Sucks but go figure. Rich get richer right?
Click to expand...
More money is about to hit. Get a loan # if you don't have one already.
 
My mom received her EIDL of $1K per employee yesterday,
she applied maybe, April 6th,

she had received the email Djetok had posted earlier last week but the money didn't hit until yesterday,
 
I had an EIDL deposit made into my account yesterday. I applied on April 5th.
 
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