BMW
X1 / X2
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
BIMMERPOST Universal Forums Off-Topic Discussions Board SBA PPP loan thread

Post Reply
 
Thread Tools Search this Thread
      05-12-2020, 02:00 PM   #287
9M71
Major
1233
Rep
1,164
Posts

Drives: 2018 F80 M3 | 6MT
Join Date: Jul 2019
Location: NYC

iTrader: (2)

Quote:
Originally Posted by 383vett View Post
I will have the opposite problem in my dental office. I will end up giving the staff bonuses at the end of the 8 weeks when the ppp funding is supposed to be used up. The staff is being paid now an average of their previous wages, (unlike your wife's office, we are very busy at the beginning of the year when new insurance maximums kick in and patients have been waiting for a chance to spend new insurance monies). At the end of 8 weeks I will need to give them bonuses to use up the 75% of the monies for wages. The irony here is that dentists in the Bay Area are not allowed to reopen and I am approaching the two week mark since my funding. I assume we will be closed at least until June which means that half my time to use up the funding will have been used up and I will have seen no patients. A colleague of mine received his funding and unemployment pays more than their normal wages. All but one opted to stay on unemployment and he will need to return most of his ppp money. Back to your wife's situation, is unemployment paying her more than her wages at work? There is a lot to be worked out with the ppp funding that has not yet been written. I believe in the next few weeks, there will be new information about the ppp fund usage to clarify the current situation.
Hey Vett, thanks for sharing your insight. I'll try to address responses in bullet points and have some questions for you as well.

1.When paying your staff an average of previous wages, are you calculating this on a full year basis or seasonal basis and selected a particular quarter?

2.Since only 1 of her 2 offices applied for PPP, and she has 1.5 days a week at this office, the answer is yes, unemployment (with the extra $600 weekly) will pay more than her 1.5 days at this office. Unfortunately the 1.5 days of pay is enough to disqualify her for unemployment in NY State as well as a result. If both her offices 're-opened' with PPP funds, then that amount would be greater than collecting UI.

3.For your colleague’s office – the staff that chose to remain on UI rather than return to work, were they actually able to continue receiving UI benefits? If suitable work has been offered to them and they declined, I wonder if their UI benefits were jeopardized as a result.

4.Now in terms of returning to work, the dental office is asking that they work remotely for the next 8 weeks (attend some B.S. webinars and coursework to constitute ‘work’). The manager did send out a vague email just now asking staff to physically go into the office to clean it up and other administrative duties (not seeing patients till July however, at the earliest). However the staff will most likely push back as NY is still under closure orders, and commuting to the office means taking public transportation.

Right now, i think our only option really is to accept the offer to return to work for this one office. We will be losing out on some money but thankfully it is not an amount that will make or break us. More concerning however to us is how the office is handling the specifics of the PPP, as they seem to be deviating from what other business owners have been doing.
Appreciate 0
      05-13-2020, 01:26 PM   #288
383vett
Major
383vett's Avatar
United_States
626
Rep
1,044
Posts

Drives: 2018 X3 M40i, 2012 X3 Xdrive35
Join Date: Aug 2012
Location: Moraga, California

iTrader: (0)

Quote:
Originally Posted by 9M4N71U View Post
Hey Vett, thanks for sharing your insight. I'll try to address responses in bullet points and have some questions for you as well.

1.When paying your staff an average of previous wages, are you calculating this on a full year basis or seasonal basis and selected a particular quarter?

2.Since only 1 of her 2 offices applied for PPP, and she has 1.5 days a week at this office, the answer is yes, unemployment (with the extra $600 weekly) will pay more than her 1.5 days at this office. Unfortunately the 1.5 days of pay is enough to disqualify her for unemployment in NY State as well as a result. If both her offices 're-opened' with PPP funds, then that amount would be greater than collecting UI.

3.For your colleague’s office – the staff that chose to remain on UI rather than return to work, were they actually able to continue receiving UI benefits? If suitable work has been offered to them and they declined, I wonder if their UI benefits were jeopardized as a result.

4.Now in terms of returning to work, the dental office is asking that they work remotely for the next 8 weeks (attend some B.S. webinars and coursework to constitute ‘work’). The manager did send out a vague email just now asking staff to physically go into the office to clean it up and other administrative duties (not seeing patients till July however, at the earliest). However the staff will most likely push back as NY is still under closure orders, and commuting to the office means taking public transportation.

Right now, i think our only option really is to accept the offer to return to work for this one office. We will be losing out on some money but thankfully it is not an amount that will make or break us. More concerning however to us is how the office is handling the specifics of the PPP, as they seem to be deviating from what other business owners have been doing.
To answer your first question, my accountant calculated the staff's wages based on 2019 total wages plus pension plan and health. Also my son has worked with me for 10 years, and as officers or our corporation, he and I are both entitled to a prorated salary of 100K.
For the third question in regards to my colleague with the employees that refused to return to work, I guess if he notified EDD that they were given the opportunity to work and refused, they could lose their unemployment benefits but then he would probably lose them as employees for tattling.
In the Bay Area, we have not been given the official ok to reopen. Some dental offices are starting up but are opening themselves up to great liability not only if Covid is spread from the dental office, but for any claim not even related to Covid. Any type of malpractice claim would be indefensible because the dentist was not supposed to be practicing dentistry at that time. As of last weekend, 22 states have allowed dentists to reopen. California and NY will be among the last. I heard a report that the 4 most dangerous occupations in regards to Covid were 1) Dental hygienists, 2) Respiratory therapists, 3) Dentists, 4) Dental assistants.
Wish you and your wife the best of luck. Stay healthy.
__________________
2016 Z06 Vette, 10.53@132
1984 Vette, 406, 10.23@131
2021 SQ5
Appreciate 0
      05-13-2020, 02:26 PM   #289
9M71
Major
1233
Rep
1,164
Posts

Drives: 2018 F80 M3 | 6MT
Join Date: Jul 2019
Location: NYC

iTrader: (2)

Quote:
Originally Posted by 383vett View Post
Quote:
Originally Posted by 9M4N71U View Post
Hey Vett, thanks for sharing your insight. I'll try to address responses in bullet points and have some questions for you as well.

1.When paying your staff an average of previous wages, are you calculating this on a full year basis or seasonal basis and selected a particular quarter?

2.Since only 1 of her 2 offices applied for PPP, and she has 1.5 days a week at this office, the answer is yes, unemployment (with the extra $600 weekly) will pay more than her 1.5 days at this office. Unfortunately the 1.5 days of pay is enough to disqualify her for unemployment in NY State as well as a result. If both her offices 're-opened' with PPP funds, then that amount would be greater than collecting UI.

3.For your colleague’s office – the staff that chose to remain on UI rather than return to work, were they actually able to continue receiving UI benefits? If suitable work has been offered to them and they declined, I wonder if their UI benefits were jeopardized as a result.

4.Now in terms of returning to work, the dental office is asking that they work remotely for the next 8 weeks (attend some B.S. webinars and coursework to constitute ‘work’). The manager did send out a vague email just now asking staff to physically go into the office to clean it up and other administrative duties (not seeing patients till July however, at the earliest). However the staff will most likely push back as NY is still under closure orders, and commuting to the office means taking public transportation.

Right now, i think our only option really is to accept the offer to return to work for this one office. We will be losing out on some money but thankfully it is not an amount that will make or break us. More concerning however to us is how the office is handling the specifics of the PPP, as they seem to be deviating from what other business owners have been doing.
To answer your first question, my accountant calculated the staff's wages based on 2019 total wages plus pension plan and health. Also my son has worked with me for 10 years, and as officers or our corporation, he and I are both entitled to a prorated salary of 100K.
For the third question in regards to my colleague with the employees that refused to return to work, I guess if he notified EDD that they were given the opportunity to work and refused, they could lose their unemployment benefits but then he would probably lose them as employees for tattling.
In the Bay Area, we have not been given the official ok to reopen. Some dental offices are starting up but are opening themselves up to great liability not only if Covid is spread from the dental office, but for any claim not even related to Covid. Any type of malpractice claim would be indefensible because the dentist was not supposed to be practicing dentistry at that time. As of last weekend, 22 states have allowed dentists to reopen. California and NY will be among the last. I heard a report that the 4 most dangerous occupations in regards to Covid were 1) Dental hygienists, 2) Respiratory therapists, 3) Dentists, 4) Dental assistants.
Wish you and your wife the best of luck. Stay healthy.
Thanks for sharing your insight, greatly appreciated. and yes I overheard the same thing from a webinar as my wife does her CE credits. It's going to be a scary world the dental professions are returning to. Stay safe and healthy.
Appreciate 0
      06-05-2020, 11:39 AM   #290
scostu
Colonel
scostu's Avatar
United_States
1620
Rep
2,036
Posts

Drives: 2016 F25
Join Date: Jun 2015
Location: Space Coast Florida...aka NASA area

iTrader: (0)

The Senate Wednesday evening passed a bill modifying the Paycheck Protection Program of forgivable coronavirus relief loans to small businesses. The bill, which sailed through the House last week in a 417-1 vote, now goes to President Trump’s desk for his signature.

Among its provisions, the new Paycheck Protection Program Flexibility Act extends from eight weeks to 24 weeks the period that small businesses have to spend their emergency funds while still qualifying to have their loans forgiven. It also provides more flexibility in how the loans can be used, lowering the minimum percentage required to be spent on payroll from 75% to 60%. See more details here.


https://finance.yahoo.com/news/senat...230905433.html
__________________
Appreciate 1
hubbahubba8710.00
      06-05-2020, 03:12 PM   #291
hubbahubba
Captain
hubbahubba's Avatar
8710
Rep
859
Posts

Drives: M3CX
Join Date: Jul 2019
Location: Az

iTrader: (0)

Quote:
Originally Posted by scostu View Post
The Senate Wednesday evening passed a bill modifying the Paycheck Protection Program of forgivable coronavirus relief loans to small businesses. The bill, which sailed through the House last week in a 417-1 vote, now goes to President Trump’s desk for his signature.

Among its provisions, the new Paycheck Protection Program Flexibility Act extends from eight weeks to 24 weeks the period that small businesses have to spend their emergency funds while still qualifying to have their loans forgiven. It also provides more flexibility in how the loans can be used, lowering the minimum percentage required to be spent on payroll from 75% to 60%. See more details here.


https://finance.yahoo.com/news/senat...230905433.html
This is good news. Thank you!
Appreciate 0
      06-05-2020, 08:27 PM   #292
hubbahubba
Captain
hubbahubba's Avatar
8710
Rep
859
Posts

Drives: M3CX
Join Date: Jul 2019
Location: Az

iTrader: (0)

Does anybody have the exact details of what this entails? Has number of employees changed? Or just extension of time and percentage of payroll?
Appreciate 0
      06-12-2020, 10:13 AM   #293
RickFLM4
Brigadier General
RickFLM4's Avatar
United_States
10873
Rep
4,816
Posts

Drives: M4
Join Date: Jul 2015
Location: PB County, FL

iTrader: (0)

I waited until cash hit my account before posting...

I submitted an application for EIDL back in March. I later got an email telling me the max grant would be $1K / employee up to $10K rather than a flat $10K. As a sole proprietor I assumed that meant I might get $1K but would probably get nothing. More time went by, I heard nothing and figured the funds were probably exhausted.

Anyway fast forward 2 mos. and I got zero grant but qualified for a good sized loan. I took about 60% of what they offered. Not forgivable but repayable over 30 years @ 3.75% interest beginning in June 2021. Funded today and moved into an MMA to sit there for working capital as some clients have been slow paying. Other than slow pays business has held up mostly ok for now but not sure what lies ahead. So having the extra cash just in case is good. I can prepay with no penalty if I so choose to do so.
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82
Appreciate 1
hubbahubba8710.00
      06-12-2020, 10:17 AM   #294
saeyedoc
Captain
284
Rep
835
Posts

Drives: 2013 Carrera S, 2013 Panny GTS
Join Date: Jun 2010
Location: San Antonio, TX

iTrader: (0)

My understanding is you have to have the same number of employees on 12/31 that you had when you got funded, or prove you've been trying to fill vacated positions.
Appreciate 1
hubbahubba8710.00
      06-12-2020, 10:17 AM   #295
dreamingat30fps
Lieutenant Colonel
United_States
5256
Rep
1,904
Posts

Drives: Miata, Cayenne, Model 3, F350
Join Date: Jan 2010
Location: South Florida & NC

iTrader: (1)

Quote:
Originally Posted by RickFLM4 View Post
I waited until cash hit my account before posting...

I submitted an application for EIDL back in March. I later got an email telling me the max grant would be $1K / employee up to $10K rather than a flat $10K. As a sole proprietor I assumed that meant I might get $1K but would probably get nothing. More time went by, I heard nothing and figured the funds were probably exhausted.

Anyway fast forward 2 mos. and I got zero grant but qualified for a good sized loan. I took about 60% of what they offered. Not forgivable but repayable over 30 years @ 3.75% interest beginning in June 2021. Funded today and moved into an MMA to sit there for working capital as some clients have been slow paying. Other than slow pays business has held up mostly ok for now but not sure what lies ahead. So having the extra cash just in case is good. I can prepay with no penalty if I so choose to do so.
Interesting. I got the $1k deposited into my account, no email, no call, just showed up one day. Then maybe like a week or two ago I got an email about the loan portion. I have not accepted it because from everything I've read the terms were pretty onerous.
Appreciate 1
RickFLM410873.00
      06-12-2020, 10:25 AM   #296
hubbahubba
Captain
hubbahubba's Avatar
8710
Rep
859
Posts

Drives: M3CX
Join Date: Jul 2019
Location: Az

iTrader: (0)

Quote:
Originally Posted by RickFLM4 View Post
I waited until cash hit my account before posting...

I submitted an application for EIDL back in March. I later got an email telling me the max grant would be $1K / employee up to $10K rather than a flat $10K. As a sole proprietor I assumed that meant I might get $1K but would probably get nothing. More time went by, I heard nothing and figured the funds were probably exhausted.

Anyway fast forward 2 mos. and I got zero grant but qualified for a good sized loan. I took about 60% of what they offered. Not forgivable but repayable over 30 years @ 3.75% interest beginning in June 2021. Funded today and moved into an MMA to sit there for working capital as some clients have been slow paying. Other than slow pays business has held up mostly ok for now but not sure what lies ahead. So having the extra cash just in case is good. I can prepay with no penalty if I so choose to do so.
I actually did the same exact thing. They offered 165, we took 100, they funded us with 110 as we have more than 10 employees. Is very nice to have a cushion. Now that terms of PPP have changed, and having only 40% capacity in the dining room with Az spiking again, thinking we may apply for that again as well. Road to recovery for Az is appearing to get longer...
Appreciate 1
RickFLM410873.00
      06-12-2020, 10:52 AM   #297
RickFLM4
Brigadier General
RickFLM4's Avatar
United_States
10873
Rep
4,816
Posts

Drives: M4
Join Date: Jul 2015
Location: PB County, FL

iTrader: (0)

Quote:
Originally Posted by dreamingat30fps View Post
Interesting. I got the $1k deposited into my account, no email, no call, just showed up one day. Then maybe like a week or two ago I got an email about the loan portion. I have not accepted it because from everything I've read the terms were pretty onerous.
I don’t find the loan terms onerous for the EIDL program (no payments for a year, 30 year term at 3.75%, can prepay at any time).
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82
Appreciate 1
hubbahubba8710.00
      06-12-2020, 10:54 AM   #298
KenB925
Second Lieutenant
1124
Rep
265
Posts

Drives: ZL1, Raptor
Join Date: Feb 2017
Location: Bay Area, CA

iTrader: (0)

Quote:
Originally Posted by RickFLM4 View Post
Other than slow pays business has held up mostly ok for now but not sure what lies ahead. So having the extra cash just in case is good. I can prepay with no penalty if I so choose to do so.
This is my experience too, some people are taking forever to pay.

Quote:
Originally Posted by hubbahubba View Post
I actually did the same exact thing. They offered 165, we took 100, they funded us with 110 as we have more than 10 employees. Is very nice to have a cushion. Now that terms of PPP have changed, and having only 40% capacity in the dining room with Az spiking again, thinking we may apply for that again as well. Road to recovery for Az is appearing to get longer...
I have "news" fatigue, are things really spiking (hospitalizations), or are more people just getting tested?

The news and health officials have lost so much credibility since this thing started that I don't really pay much attention to them anymore.
Appreciate 1
hubbahubba8710.00
      06-12-2020, 10:55 AM   #299
RickFLM4
Brigadier General
RickFLM4's Avatar
United_States
10873
Rep
4,816
Posts

Drives: M4
Join Date: Jul 2015
Location: PB County, FL

iTrader: (0)

Quote:
Originally Posted by hubbahubba View Post
I actually did the same exact thing. They offered 165, we took 100, they funded us with 110 as we have more than 10 employees. Is very nice to have a cushion. Now that terms of PPP have changed, and having only 40% capacity in the dining room with Az spiking again, thinking we may apply for that again as well. Road to recovery for Az is appearing to get longer...
Is the restaurant a QSR with Drive thru or dine in only? I think it is a good idea to take the cash and sit on it because the next 6-12 mos. are a big unknown. Can always repay early.
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82
Appreciate 1
hubbahubba8710.00
      06-12-2020, 10:57 AM   #300
dreamingat30fps
Lieutenant Colonel
United_States
5256
Rep
1,904
Posts

Drives: Miata, Cayenne, Model 3, F350
Join Date: Jan 2010
Location: South Florida & NC

iTrader: (1)

Quote:
Originally Posted by RickFLM4 View Post
I don’t find the loan terms onerous for the EIDL program (no payments for a year, 30 year term at 3.75%, can prepay at any time).
I meant the other terms of the contract. Being able to have anything you own as collateral, having to only use the money for specific things and not others etc. That's my understanding anyways, could be wrong.
Appreciate 1
hubbahubba8710.00
      06-12-2020, 11:01 AM   #301
RickFLM4
Brigadier General
RickFLM4's Avatar
United_States
10873
Rep
4,816
Posts

Drives: M4
Join Date: Jul 2015
Location: PB County, FL

iTrader: (0)

Quote:
Originally Posted by KenB925 View Post
This is my experience too, some people are taking forever to pay.
My biggest client I have worked with for years has been great. I try not to take it personally, never complain and always respond to clients ASAP, but I do find it a little offensive when others who have plenty of cash slow payments down. I’m a one man shop and while I don’t live invoice to invoice, I can’t help but get a little bothered when this happens.

We have been fortunate in that my wife’s job has held up, as that is our health insurance source. Losing that would hurt worse than losing her salary.
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82
Appreciate 1
hubbahubba8710.00
      06-12-2020, 11:08 AM   #302
RickFLM4
Brigadier General
RickFLM4's Avatar
United_States
10873
Rep
4,816
Posts

Drives: M4
Join Date: Jul 2015
Location: PB County, FL

iTrader: (0)

Quote:
Originally Posted by dreamingat30fps View Post
I meant the other terms of the contract. Being able to have anything you own as collateral, having to only use the money for specific things and not others etc. That's my understanding anyways, could be wrong.
Anything owned by the business is collateral, not you personally. I did not provide a personal guarantee. In my case, the only asset of my LLC is A/R and the loan proceeds sitting as cash, so no big deal. I can understand if a business has other assets and doesn’t want to use them as security because they are used for security of other debt. Yes, you have to agree to not use the money except for the business but doubt there will be any audits or issues as long as payments are made. In my case, I have no intention of using it for anything other than an extra cushion and will probably repay it early when the economy is in a better place in a year or two.
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82
Appreciate 1
hubbahubba8710.00
      06-12-2020, 11:24 AM   #303
hubbahubba
Captain
hubbahubba's Avatar
8710
Rep
859
Posts

Drives: M3CX
Join Date: Jul 2019
Location: Az

iTrader: (0)

Quote:
Originally Posted by RickFLM4 View Post
Is the restaurant a QSR with Drive thru or dine in only? I think it is a good idea to take the cash and sit on it because the next 6-12 mos. are a big unknown. Can always repay early.
No on quick service and drive thru. Last year our take-out/delivery accounted for 11% of sales. Since re-opening dining room on May 11, it (take out) is a full 1/3 of sales. Totally agree on taking the cash and sitting on it unless it is needed.
Appreciate 0
      06-12-2020, 11:30 AM   #304
hubbahubba
Captain
hubbahubba's Avatar
8710
Rep
859
Posts

Drives: M3CX
Join Date: Jul 2019
Location: Az

iTrader: (0)

Quote:
Originally Posted by saeyedoc View Post
My understanding is you have to have the same number of employees on 12/31 that you had when you got funded, or prove you've been trying to fill vacated positions.
This is per the new explanation of rules? So even if on Feb 15 I had 43 employees, and now that number is 21, if funded PPP today I would only need to maintain 21 on 12/31?
Appreciate 0
      06-12-2020, 11:32 AM   #305
hubbahubba
Captain
hubbahubba's Avatar
8710
Rep
859
Posts

Drives: M3CX
Join Date: Jul 2019
Location: Az

iTrader: (0)

Quote:
Originally Posted by dreamingat30fps View Post
Interesting. I got the $1k deposited into my account, no email, no call, just showed up one day. Then maybe like a week or two ago I got an email about the loan portion. I have not accepted it because from everything I've read the terms were pretty onerous.
Terms for mine were just as Rick's. Felt like cheap insurance to me. What part did you see that was onerous?
Appreciate 0
      06-12-2020, 11:39 AM   #306
hubbahubba
Captain
hubbahubba's Avatar
8710
Rep
859
Posts

Drives: M3CX
Join Date: Jul 2019
Location: Az

iTrader: (0)

Quote:
Originally Posted by KenB925 View Post
I have "news" fatigue, are things really spiking (hospitalizations), or are more people just getting tested?

The news and health officials have lost so much credibility since this thing started that I don't really pay much attention to them anymore.
Me too. I have pretty much just stuck with what the governor of Az has been saying. Yesterday in his presser he said that we were spiking, but that we were very well prepared for it in terms of hospital beds, ventilators, etc. He was asked if there would be another shut down, and he was pretty adament "no". That said, we are staying put on social distance rules and degree to which businesses can open up. Some of the "gotcha" questions from reporters are really getting old...
Appreciate 0
      06-12-2020, 11:48 AM   #307
dreamingat30fps
Lieutenant Colonel
United_States
5256
Rep
1,904
Posts

Drives: Miata, Cayenne, Model 3, F350
Join Date: Jan 2010
Location: South Florida & NC

iTrader: (1)

Quote:
Originally Posted by RickFLM4 View Post
Anything owned by the business is collateral, not you personally. I did not provide a personal guarantee. In my case, the only asset of my LLC is A/R and the loan proceeds sitting as cash, so no big deal. I can understand if a business has other assets and doesn’t want to use them as security because they are used for security of other debt. Yes, you have to agree to not use the money except for the business but doubt there will be any audits or issues as long as payments are made. In my case, I have no intention of using it for anything other than an extra cushion and will probably repay it early when the economy is in a better place in a year or two.
I understand but also being a 1 person scorp who knows if they could claim my house is technically a business asset since I work here etc. Would be nice to have the cheap loan in case, but for me personally, rather keep the government out of my life as much as possible.

Quote:
Originally Posted by hubbahubba View Post
Terms for mine were just as Rick's. Felt like cheap insurance to me. What part did you see that was onerous?
Honestly I don't remember all the exact details. I did some research online when they offered me the loan and saw lots of stuff from attorneys going over the terms and I just didn't like that much government involvement in my business. I remember if you sold any assets you had to let them know, you had to let them know if you got any other loans etc.

Again that's just my opinion for my business. While I have had some clients cancel I'm still ok for now. Only concern is since my business is more of a subscription type service there is a delay between my clients businesses being impacted and them canceling. If it was life or death you best believe I would take the money regardless of any terms.
Appreciate 1
hubbahubba8710.00
      06-12-2020, 01:00 PM   #308
hubbahubba
Captain
hubbahubba's Avatar
8710
Rep
859
Posts

Drives: M3CX
Join Date: Jul 2019
Location: Az

iTrader: (0)

Quote:
Originally Posted by dreamingat30fps View Post
I understand but also being a 1 person scorp who knows if they could claim my house is technically a business asset since I work here etc. Would be nice to have the cheap loan in case, but for me personally, rather keep the government out of my life as much as possible.



Honestly I don't remember all the exact details. I did some research online when they offered me the loan and saw lots of stuff from attorneys going over the terms and I just didn't like that much government involvement in my business. I remember if you sold any assets you had to let them know, you had to let them know if you got any other loans etc.

Again that's just my opinion for my business. While I have had some clients cancel I'm still ok for now. Only concern is since my business is more of a subscription type service there is a delay between my clients businesses being impacted and them canceling. If it was life or death you best believe I would take the money regardless of any terms.
Fair enough. Thank you.
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 05:37 AM.




xbimmers
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST