Trump signs bill to ease guidelines on coronavirus relief loans for small businesses

[tacobell fan]

• President Donald Trump signs a bill to ease the conditions small business owners have to meet in order to get loans forgiven during the coronavirus pandemic. 
• The Senate and House passed the legislation nearly unanimously as some companies struggle to meet the thresholds for forgiveness. 
• Trump spoke after a surprisingly strong May jobs report. 

[mustang302]

Easy loot ithae mana desi " it companies" ki..🤭🙏🕺

[tacobell fan]

1 minute ago, mustang302 said:

Easy loot ithae mana desi " it companies" ki..🤭🙏🕺

janalu nallollu looting gurinchi preachings istunnaru, white collar fraud kanapadadhu kabatti vallaki

[mustang302]

2 minutes ago, tacobell fan said:

janalu nallollu looting gurinchi preachings istunnaru, white collar fraud kanapadadhu kabatti vallaki

😂naturally.

[Bhumchik]

47 minutes ago, mustang302 said:

Easy loot ithae mana desi " it companies" ki..🤭🙏🕺

The loans are meant purely for spending on payroll and payroll-related costs and they need to meet some criteria to be qualified to apply for these loans. It doesn’t go into employers’ pockets and there is no loot

[tom bhayya]

3 minutes ago, Bhumchik said:

The loans are meant purely for spending on payroll and payroll-related costs and they need to meet some criteria to be qualified to apply for these loans. It doesn’t go into employers’ pockets and there is no loot

  aa inka lakers kabatti repaid it , donga naa companies enni unnayo 

NBA’s LA Lakers got $4.6 million in coronavirus federal loan money for small business

[dewarist]

6 minutes ago, Bhumchik said:

The loans are meant purely for spending on payroll and payroll-related costs and they need to meet some criteria to be qualified to apply for these loans. It doesn’t go into employers’ pockets and there is no loot

On paper it is , the reality is entirely different especially for desi it shops

[Hitman]

P

PRINT PRINT PRINT... Sleepy JoE will be sleeping.. ..Tatha seems will go to elections with DOW 35,000...

[Bhumchik]

3 hours ago, tom bhayya said:

  aa inka lakers kabatti repaid it , donga naa companies enni unnayo 

NBA’s LA Lakers got $4.6 million in coronavirus federal loan money for small business

So what’s the problem if they got a loan? Do you know the max amount under PPP? 10K.

There is stringent scrutiny for loan applications for millions of dollars. Not everyone qualifies for even smaller amounts and not every employer is able to even spend the money on payroll in the given time to have it forgiven if they already laid off 25% or more employees . They got qualified for it. You cannot falsify payroll records in this country and get away with it. This is not India where anything goes with bribery

[Bhumchik]

20 minutes ago, dewarist said:

On paper it is , the reality is entirely different especially for desi it shops

Do you have any data to backup your allegations or just saying it vaguely? I don’t know why people are crying on desi companies. Any company should be able to manipulate the system the same way if it is possible - even a Chinese company. There is a desi employer who filed for some 2.5 million loan without employees and got booked for fraud. He would be deported for the crime!

[dewarist]

3 minutes ago, Bhumchik said:

Do you have any data to backup your allegations or just saying it vaguely? I don’t know why people are crying on desi companies. Any company should be able to manipulate the system the same way if it is possible - even a Chinese company. There is a desi employer who filed for some 2.5 million loan without employees and got booked for fraud. He would be deported for the crime!

Looks like he wasn't playing smart. There are lot of players who know how to exactly play this game and what are the safe thresholds to keep them under the radar.

Desi Companies are just a subset of the superset playing this game and was probably quoted as one set.

[tacobell fan]

48 minutes ago, Bhumchik said:

The loans are meant purely for spending on payroll and payroll-related costs and they need to meet some criteria to be qualified to apply for these loans. It doesn’t go into employers’ pockets and there is no loot

Really? Why don’t you explain more. The PPP is free money to keep employee on Payroll and how Consultancy pay to employee? Unlike a restaurant they won’t pay out of pocket regardless of business. Just FYI, we have PPP approved. 

[Bhumchik]

9 minutes ago, dewarist said:

Looks like he wasn't playing smart. There are lot of players who know how to exactly play this game and what are the safe thresholds to keep them under the radar.

Desi Companies are just a subset of the superset playing this game and was probably quoted as one set.

What do you mean “smart”? Is it claiming nonexistent employees on record as of Jan? How can you create payroll for those imaginary employees for January - now in May or June to be able to apply for a loan?? If you don’t run payroll for employees on time (Jan) and pay payroll taxes on time, you’ll go to jail.

if you don’t pay your employees on time (Jan), you’ll end up paying TWICE the salaries and also penalties, interest and possible criminal charges for nonpayment of payroll taxes -

https://www.google.com/search?q=not+run+payroll+on+time+crime

why would anyone risk criminal charges for payroll and deportation for false records on loan application??

There is nothing like “exactly how to play the game” and there are no “safe thresholds”. So far you have not backed up your allegations with any factual data.

[Bhumchik]

27 minutes ago, tacobell fan said:

Really? Why don’t you explain more. The PPP is free money to keep employee on Payroll and how Consultancy pay to employee? Unlike a restaurant they won’t pay out of pocket regardless of business. Just FYI, we have PPP approved. 

It’s not free money or a grant - it’s a LOAN with low 1% interest that may be forgiven if you meet the criteria on spending it on payroll (minimum 75% of the loan amount and up to 100%) and payroll costs like rent, utilities and mortgage interest (up to 25% max) in a limited timely manner which is within 8 weeks (but there was talk the time limit would be increased).

If you already laid off 25% or more of your employees, you won’t be able to spend it all within 8 weeks on payroll and end up paying back the loan amount! If you are required to spend the loan amount on paying employee salaries (who you stopped paying or cannot afford to pay due to no business and due to corona), how is that going into your pocket as employer and how is that free money? It is a means to retain your employees - not your pocket money. PPP => Paycheck Protection Program.

yeah, I got PPP loan money too.

Congratulations and do your research and not end up in surprises later on.

[jefferson1]

2 hours ago, tacobell fan said:

janalu nallollu looting gurinchi preachings istunnaru, white collar fraud kanapadadhu kabatti vallaki