Bailout and payroll

The only difference I read in the actual bill is that they can waive documentation requirements and approve you based solely off of your credit score. We'll see! One thing I know for sure is that in three hours last night...it appears over 45,000 people had applied. I counted by the application numbers. This is a scary time for small businesses in America.

 

I just applied......easy peasy stuff folks.

 

You have to be one of the 1st million to apply. It's first come first serve on the $10,000 advance that you don't have to pay back. Supposedly there's 10bil available on that pot so that means a million businesses and business entities will get it.

My application number was 3300787046 so I hope that's not how many have applied. And I really have been out of work the last two weeks. I haul petroleum products, or I did.

 

I guess it could possibly work out for a owner/operator, but the loan could turn out really bad for somebody with employees.

The loan is to pay your employees, and is forgiven, as long as you don't lay off your employees. Sounds great, as long as is doesn't get so bad that even though you take the loan, you still end up with having to lay off your employees. At that point, your are going to come out of this mess not only broke, but owing Uncle Sam his loan back.

 

This was me exactly 24hrs ago

 

How do you sign up for unemployment as a sole proprietor ...? Threw your State I guess.....

 

Yes. States are working through setting up the process with the Department of Labor.

 

$10,000 for free? No strings attached?

 

You got that right, wait and see how hard it will be to get these check collecting couch potatoes back to work after 6 weeks off.

My girl up in Michigan does hiring all over southern Michigan for nursing facilities which you deal with the bottom of the bottom anyways.

She says she has had numerous hiring appointments canceled now that this free money is coming out.

This is going to get Stupid

 

Mo Money Mo Money Mo Money