The largest, wealthiest businesses got theirs, because they have the most influence on banks and other power-brokers. The small businesses that are struggling the most to make payroll, the ones that are most likely to shutter as a result of all this, driving unemployment to an unprecedented level, have been shut out. It's too-big-to-fail all over again.
No. I was told I "should", but not by any professionals. I haven't found anything that actually says I'd actually get it.
Shake Shack is returning the 10 million they got from PPP. No wonder so many small businesses aren't getting theirs. https://www.nytimes.com/2020/04/20/...ml?action=click&module=Latest&pgtype=Homepage
It's actually worse. Good on Shake Shack though. https://www.washingtonpost.com/busi...chains-helped-run-small-business-program-dry/
It's capitalistic Darwinism but it still sucks. The companies the most on their game (mostly the big companies) filed soonest and most correctly. The mom & pop places that always struggle with books anyway screwed around and missed the boat.
Landlords getting screwed on the first draft of the rent relief bill. Rent freeze for FIVE years, open houses to section 8, no rent/arrest history restrictions...good lord.
Weird (and specific) question, but: Anyone receiving social security benefits but also filed a tax return this year: Have you received your stimulus money?
My non-profit company filed immediately--the instant a business was able to do so--and we don't struggle with books. But the local arts organizations that got it were the ones that were most connected and had the most pull with banks and powerful people that could help push their applications through. You're right. It's capitalistic Darwinism and you're right that it sucks.
They made updates to the "Get My Payment" tool on the IRS website. I was getting "Payment Status is Unavailable" or whatever every time before. But, now, I got a confirmation of a check and date it will be sent. I was starting to wonder if I was going to fall through the cracks. The enhancements were noted as fixing problems accessing the tool and with the ability to add bank account info to get a direct deposit payment.
I was also able to enter my bank information finally after having the unavailable message before. Now it says they're mailing a check on May 1. Hopefully they mean direct deposit.
I sent a text to a co-worker who had problems with this before and he confirms he was able to get it to work now (he's able to submit his information instead of getting the "unavailable" message).
Several businesses that I have an interest in or are run by friends all were able to get loans. The key is that they had existing relationships with SBA lenders in regional banks. The larger banks all weren’t really set up for it.
