rpbobcat Posted June 25, 2021 Share Posted June 25, 2021 6 hours ago, Jeff Ream said: they mention paying down the line of credit, and begin to restaff. so not only do they have 2020 bills to pay...and maybe a few leftover from 19, but they have 2021 bills to be prepared for since at this stage, attendance revenue for 2021 is not predictable. and if wise, maybe some gets banked just in case Last year I looked into a PPP loan/grant for my small business. If you get approved,you have to provide documentation on how you spent every penny. The was particularly important with PPP,since it was a loan that could become a grant,if you met all of the procedural requirements. In my case our corporate atty. and account felt there were too many "land mines" that could prevent the loan becoming a grant,to risk it. I would think DCI's grant has similar reporting requirements. I just don't know if they would ever be made "public". Quote Link to comment Share on other sites More sharing options...
JimF-LowBari Posted June 25, 2021 Share Posted June 25, 2021 43 minutes ago, rpbobcat said: Last year I looked into a PPP loan/grant for my small business. If you get approved,you have to provide documentation on how you spent every penny. The was particularly important with PPP,since it was a loan that could become a grant,if you met all of the procedural requirements. In my case our corporate atty. and account felt there were too many "land mines" that could prevent the loan becoming a grant,to risk it. I would think DCI's grant has similar reporting requirements. I just don't know if they would ever be made "public". Don’t know much about PPPs. If it is a loan is an interest rate mentioned? Quote Link to comment Share on other sites More sharing options...
rpbobcat Posted June 25, 2021 Share Posted June 25, 2021 30 minutes ago, JimF-LowBari said: Don’t know much about PPPs. If it is a loan is an interest rate mentioned? I don't believe it was interest free. But, to be honest, I don't remember exactly how it worked. The program was touted, at least around here, as being an almost automatic conversion from a loan to a grant. Thing is, when you go through the documents "almost automatic" wasn't, to be polite, "quite accurate". If you didn't do everything perfectly, I believe there were even requirements for the color ink you had to use to sign documents, the government could keep the PPP as a loan. Some flaws were "correctable", others you only got "one bite at the apple". As I posted, after going through the requirements, both our corporate attorney and account said "stay away". 2 1 Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted June 25, 2021 Share Posted June 25, 2021 1 hour ago, rpbobcat said: I don't believe it was interest free. But, to be honest, I don't remember exactly how it worked. The program was touted, at least around here, as being an almost automatic conversion from a loan to a grant. Thing is, when you go through the documents "almost automatic" wasn't, to be polite, "quite accurate". If you didn't do everything perfectly, I believe there were even requirements for the color ink you had to use to sign documents, the government could keep the PPP as a loan. Some flaws were "correctable", others you only got "one bite at the apple". As I posted, after going through the requirements, both our corporate attorney and account said "stay away". The large print giveth. The fine print taketh away. 1 Quote Link to comment Share on other sites More sharing options...
JimF-LowBari Posted June 25, 2021 Share Posted June 25, 2021 1 hour ago, rpbobcat said: I don't believe it was interest free. But, to be honest, I don't remember exactly how it worked. The program was touted, at least around here, as being an almost automatic conversion from a loan to a grant. Thing is, when you go through the documents "almost automatic" wasn't, to be polite, "quite accurate". If you didn't do everything perfectly, I believe there were even requirements for the color ink you had to use to sign documents, the government could keep the PPP as a loan. Some flaws were "correctable", others you only got "one bite at the apple". As I posted, after going through the requirements, both our corporate attorney and account said "stay away". Old car club I belong to lost its non-profit status for a while. Combination of “we’re in charge so we know what we are doing” and being too cheap to hire experts to keep track of changes to law. Did more than just bite them in the butt. Took out a chunk that hurt operations for years while they corrected their stupidity. Good move on your part to have people who know their stuff to go over with a fine tooth comb. Quote Link to comment Share on other sites More sharing options...
DFA1970 Posted June 25, 2021 Share Posted June 25, 2021 That seems like a lot to us but in the reality of money it's nickle and dimes. That is like .0001 percent of handouts. Quote Link to comment Share on other sites More sharing options...
Smug Trumpet Guy Posted June 25, 2021 Share Posted June 25, 2021 Imagine the amount of props this will allow the blue coats to buy. Just imagine it, The entire field a recreation of Jurassic park. The props to put all others to shame. I’m talking animatronic velociraptors and pterodactyls flying across the field in a spectacle like no other. I’m salivating just imagining the GE points this could generate for my favorite corps. Zoomers will go wild and it would be a huge middle finger to those dumb dinosaurs that hate on the new generations swagger! Quote Link to comment Share on other sites More sharing options...
Jurassic Lancer Posted June 25, 2021 Share Posted June 25, 2021 34 minutes ago, Smug Trumpet Guy said: Imagine the amount of props this will allow the blue coats to buy. Just imagine it, The entire field a recreation of Jurassic park. The props to put all others to shame. I’m talking animatronic velociraptors and pterodactyls flying across the field in a spectacle like no other. I’m salivating just imagining the GE points this could generate for my favorite corps. Zoomers will go wild and it would be a huge middle finger to those dumb dinosaurs that hate on the new generations swagger! Jurassic Park, you say. Sounds like my kind of place! 😂 1 4 Quote Link to comment Share on other sites More sharing options...
BigW Posted June 25, 2021 Share Posted June 25, 2021 3 hours ago, JimF-LowBari said: Old car club I belong to lost its non-profit status for a while. Combination of “we’re in charge so we know what we are doing” and being too cheap to hire experts to keep track of changes to law. Did more than just bite them in the butt. Took out a chunk that hurt operations for years while they corrected their stupidity. Good move on your part to have people who know their stuff to go over with a fine tooth comb. And THAT is why most serious organizations hire grant writing experts or have someone exteremely capable in that specialty on board in another position. School District I went to had just that individual, and they kept her on as a consultant after retirement until she passed because she was that valuable to the District as a Grant Writer. Reading between the lines, if you're good at Grant Writing, you can easily pick your job. Kind of like being an Actuary. 1 Quote Link to comment Share on other sites More sharing options...
jjeffeory Posted June 25, 2021 Share Posted June 25, 2021 8 hours ago, rpbobcat said: Last year I looked into a PPP loan/grant for my small business. If you get approved,you have to provide documentation on how you spent every penny. The was particularly important with PPP,since it was a loan that could become a grant,if you met all of the procedural requirements. In my case our corporate atty. and account felt there were too many "land mines" that could prevent the loan becoming a grant,to risk it. I would think DCI's grant has similar reporting requirements. I just don't know if they would ever be made "public". We got a PPP without issues. It was easy as pie to apply for and obtain. All one needs to do is keep records, which is what one should be doing anyway... I'm actually surprised that DCI didn't go this route too. Quote Link to comment Share on other sites More sharing options...
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