Make for a cheap operating loan.The way I understand it a PPP loan is a Covid loan to help cover wages of employees. $20,000 for a year @ 1% interest. You have to have your banker fill out the paper work.
Spot on I looked and dont qualifyGeneral information. PPP round 1 was part of the original covid stimulus/relief last year. Paycheck Protection Program was a low interest loan (very low) for businesses at an amount up to 2.5 times your monthly payroll. Administered by the SBA. If you maintained your payroll (employees) through an 8 week segment of the pandemic (instead of laying employees off), then the loan is forgiven - free money that you don't have to pay back. Lots of paperwork required , but you got your payroll paid by the US debt for 8 weeks as well as a little more for utilities and rent. Theory was to keep people on their jobs (even if there was no work) and keep them off unemployment benefits.
There is now a round two in the new 2021 stimulus program. New round is only for companies that have had a 25% decrease in revenue in at least one quarter. Round 2 also allows you to spend money on property damage due to protests.
Make for a cheap operating loan.
I'm going to say no. This is covid relief pork or fluff of a different kind. Seems racist.Is this the same?
A provision estimated at $4 billion or so in aid to "socially disadvantaged" farmers is also part of the overall package. The aid would pay off FSA direct and guaranteed loans for farmers in socially disadvantaged groups — defined as Black or African American, American Indians or Native Alaskans, Hispanics, Asians and Native Hawaiians or Pacific Islanders.
Sounds good. Time to get my daughter involved in farming instead of college!Is this the same?
A provision estimated at $4 billion or so in aid to "socially disadvantaged" farmers is also part of the overall package. The aid would pay off FSA direct and guaranteed loans for farmers in socially disadvantaged groups — defined as Black or African American, American Indians or Native Alaskans, Hispanics, Asians and Native Hawaiians or Pacific Islanders.
I'm going to say no. This is covid relief pork or fluff of a different kind. Seems racist.
Sounds good. Time to get my daughter involved in farming instead of college!
ame down here and some stand around boldly bragging about it.I wouldn't be so worried about missing out. I chose not to get involved.
The less dealing I have with the government and my farm the better off I am. When you take money from them you open the door for them to stick their nose in your business.
They are tracking that money and Biden has already made plans to vastly expand the IRS.
I believe there will be a lot of people who regret taking that free money. You can see a list of who received the funds. If you click on their name you can also see that the government is tracking the using of the funds.
I will not even apply for the tobacco buyout cost share money. I know a man who did it for fencing and ended up getting a couple thousand dollars. His property tax also almost tripled when they reassessed the value of his farm when they came to look at what he had done.
After seeing a lot of the names of those who received PPP loans in my area I'm sure most would not wanna be under oath trying to defend the numbers they put on that piece of paper.