Quote:
Originally Posted by hubbahubba
If the loans were to be given out after 3 months of losses, there is no way I could have been able to keep all employees on payroll. We have cut shifts of many staff, and scaled it to what our revs are now. Are you suggesting that a small business has the ability to float all employees for 3 months? Mine isn't, and I assure you that prior to this mess it was an incredibly vibrant business. Our payroll was about $30k every 2 weeks pre-covid, last payroll was $12k. No way I would or could front that much with an 80% drop in revs without having cash in hand first from the ppp. I am not a bank, and I would venture a guess that a huge percentage of small businesses are in the same boat.
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That was suggestion 2 in post 139.