CLASS RACER FORUM - View Single Post - Stimulus/Corona Virus Act

GrapeApe7575 · 03-29-2020, 10:34 PM

Our business(trucking and warehousing) has been hit so hard with all of the furniture retailers closing that this legislation may be the difference between survival and complete shutdown.

As I understand it, we are able to borrow 4 months(Feb 15 to June 30)of the average of the previous 12 months monthly payroll. If we use all of the borrowed money to pay payroll throughout that same period the load proceeds will be forgiven. If in fact we actually received these funds I plan to use it just to keep the doors open and not lose any of my staff. If the shutdown lasts into the summer it will bring a brand new challenge.

On the other hand.....I do not understand the need to give $1200 to each and every human in the country(including illegals if Pelosi gets her way). There are folks who have not and will not lose their job yet they still get the payout. Somebody help me understand how this is good business. You know that ultimately this all will come right back out of our pockets in the form of higher taxes and higher prices for goods and services.

We may all recover from the virus and its effects on our bodies....but we will never COMPLETELY recover from the economic effects of this event.

03-29-2020, 10:34 PM	#9
GrapeApe7575 Member Join Date: Apr 2009 Posts: 194 Likes: 20 Liked 341 Times in 77 Posts	Re: Stimulus/Corona Virus Act - help for small business Our business(trucking and warehousing) has been hit so hard with all of the furniture retailers closing that this legislation may be the difference between survival and complete shutdown. As I understand it, we are able to borrow 4 months(Feb 15 to June 30)of the average of the previous 12 months monthly payroll. If we use all of the borrowed money to pay payroll throughout that same period the load proceeds will be forgiven. If in fact we actually received these funds I plan to use it just to keep the doors open and not lose any of my staff. If the shutdown lasts into the summer it will bring a brand new challenge. On the other hand.....I do not understand the need to give $1200 to each and every human in the country(including illegals if Pelosi gets her way). There are folks who have not and will not lose their job yet they still get the payout. Somebody help me understand how this is good business. You know that ultimately this all will come right back out of our pockets in the form of higher taxes and higher prices for goods and services. We may all recover from the virus and its effects on our bodies....but we will never COMPLETELY recover from the economic effects of this event.