2 ms·

There was already a small business bailout. Basically, you got a small business loan, and if you met certain criteria, it became a grant. The criteria was som

There was already a small business bailout. Basically, you got a small business loan, and if you met certain criteria, it became a grant. The criteria was something like 80%+ has to go to salaries, maybe some other things. So if you managed to get in early and get one of those loans, you can pay your employees for a while at no cost to you. This was called the Paycheck Protection Program, or PPP if you'd like to research more.

vkou 6y ago
There was, and the overwhelming majority of PPP funds were looted by franchises of Fortune-500 corps. The amount of corruption and favoritism that went into handing those funds out was mind-boggling, too, with banks prioritizing giving this money to companies that had outstanding loans with them - instead of solvent, well-ran small businesses. What wasn't plundered by friends, cronies, and the Fortune 500 was used up in a matter of days. I have no idea if this business got a cent of PPP money. We certainly haven't heard about it - and I'd figure the employees would have been told if 'funding was secured'. That small business bailout was a drop in a bucket. Is another one coming, or are just going to bail out big businesses, going forward?
- Consultant32452 6y ago
  My understanding is the only things forthcoming are state bailouts and monetary policy (big business).
  - jethro_tell 6y ago
    It sounds like the plan is to make people so desperate, they have to reopen and just live with a higher than normal chance of dying. Which is obviously not going to work, because supply side economics don't work. You can open all the businesses you want, but customers are going to need to want to take that same risk as the workers are being forced too. And many businesses don't have the margins to run at 50% capacity. Restaurants and retail are some of them. It's going to be a mess and there is no help coming. Many states are tapped out with unemployment, loss of revenue, and pandemic responses that had to be fully built and funded by states. As such, state bailouts are unlikely to be very meaningful.
- csharptwdec19 6y ago
  IDK why but when I read your post all I can think is that sounds like PPP had -someone's- intended effect, just not the one most people thought they would get.

vkou 6y ago

There was, and the overwhelming majority of PPP funds were looted by franchises of Fortune-500 corps. The amount of corruption and favoritism that went into handing those funds out was mind-boggling, too, with banks prioritizing giving this money to companies that had outstanding loans with them - instead of solvent, well-ran small businesses. What wasn't plundered by friends, cronies, and the Fortune 500 was used up in a matter of days. I have no idea if this business got a cent of PPP money. We certainly haven't heard about it - and I'd figure the employees would have been told if 'funding was secured'. That small business bailout was a drop in a bucket. Is another one coming, or are just going to bail out big businesses, going forward?

Consultant32452 6y ago
My understanding is the only things forthcoming are state bailouts and monetary policy (big business).
- jethro_tell 6y ago
  It sounds like the plan is to make people so desperate, they have to reopen and just live with a higher than normal chance of dying. Which is obviously not going to work, because supply side economics don't work. You can open all the businesses you want, but customers are going to need to want to take that same risk as the workers are being forced too. And many businesses don't have the margins to run at 50% capacity. Restaurants and retail are some of them. It's going to be a mess and there is no help coming. Many states are tapped out with unemployment, loss of revenue, and pandemic responses that had to be fully built and funded by states. As such, state bailouts are unlikely to be very meaningful.
csharptwdec19 6y ago
IDK why but when I read your post all I can think is that sounds like PPP had -someone's- intended effect, just not the one most people thought they would get.