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Jan 21, 2021
2:14
:28
pm
The Old Y
All-American
I got clobbered last year. Surprising to me to hear people that don't qualify.
seems like a lot of folks jumped for the free money (I don't blame them) but didn't necessarily need it.
Not saying that's a bad thing, just an observation.
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The Old Y
Bio page
The Old Y
Joined
Apr 4, 2005
Last login
Apr 26, 2024
Total posts
13,232 (179 FO)
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Messages
Author
Time
Has anyone successfully gotten through the PPP2 loan process?
BYUMizzou
1/21/21 2:07pm
Plenty of money still as far as I know.
AFCougK9
1/21/21 2:10pm
I have not been very close to this round but my understanding is money should last quite a while
Clark Addison
1/21/21 2:11pm
Funding isn't an issue. Many don't qualify because they don't have a 25% drop
Chester Copperpot
1/21/21 2:11pm
Do you have to have the drop in revenue to take a first draw?
wabluecoug
1/21/21 2:12pm
No. You just had to make a good faith certification that your business suffered
BYUMizzou
1/21/21 2:14pm
I had one quarter in 2020 where revenue fell by 25.3% over the previous year, so
BYUMizzou
1/21/21 2:13pm
I got clobbered last year. Surprising to me to hear people that don't qualify.
The Old Y
1/21/21 2:14pm
A lot of small business lost 15-24% - still devastating for small margin cos
Saxa
1/21/21 2:43pm
Good point.
The Old Y
1/21/21 2:45pm
The application process is a lot more involved this round and the money will last
CSoul
1/21/21 2:13pm
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