Cares Act 1 percent loan

[Muletrack]

My banker called to remind me to apply for my 1 percent CARES ACT LOAN. Looks like I'm going to buy some pasture stock! What's the best thing to not lose money on?

 

[callmefence]

Goats and hair sheep

 

[Bigfoot]

I think a short bred cow is a good investment this time of year. Not many people want them anytime, especially in winter. Just 7 weeks til the green up. Calve em out, and split em next fall. Very little feed cost in them, and the cow will probably pound out for what you gave for it.

 

[Angusjohn]

My banker called to remind me to apply for my 1 percent CARES ACT LOAN. Looks like I'm going to buy some pasture stock! What's the best thing to not lose money on?

You need to be careful how you spend it, if you intend to ask for it to be forgiven. My understanding is that you can use 40% of the funds for regular operating expenses, but the rest has to be used for payroll. You can "pay" yourself. You'll have to provide documentation on how the funds were spent. I think you have until March 31 to apply for the funds...

 

[Muletrack]

You need to be careful how you spend it, if you intend to ask for it to be forgiven. My understanding is that you can use 40% of the funds for regular operating expenses, but the rest has to be used for payroll. You can "pay" yourself. You'll have to provide documentation on how the funds were spent. I think you have until March 31 to apply for the funds...

Thanks. That's information my banker didn't mention. Large part of it went to pay property tax.