George Dixon Posted June 26, 2021 Share Posted June 26, 2021 6 hours ago, rpbobcat said: My concerns weren't with getting the PPP. It was the fact that there was no assurance it would be converted from a loan to a grant. In fact, there seemed to be a number of different ways the Feds could keep it as a loan. That's why, after reviewing all requirements, my corporate attorney and account said to "stay away". Can I ask what type and size business you have and if you've been able to meet all the requirements to convert it from a loan to a grant ? I run a small engineering /land surveying company in NJ. A couple of my competitors applied for and got PPP's. So far, neither one has been able to get their loan converted to a grant. find a new lawyer/accountant - the conversion requirements are very basic & frankly, easy 1 Quote Link to comment Share on other sites More sharing options...
WilsonStaff Posted June 26, 2021 Share Posted June 26, 2021 10 hours 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! Have you gone over this PPP process that DCI had to jump through with a fine tooth comb? I don't believe the money will go to the drum corps. I have to admit that I have personally not read the details either so I could be mistaken. Quote Link to comment Share on other sites More sharing options...
TenHut Posted June 26, 2021 Share Posted June 26, 2021 On 6/24/2021 at 10:01 AM, Continental said: I do not agree. I have seen much worse situations with what has happened in the past with handouts. The news is full of situations where handouts in the US were outrageous and subsequently ill spent. I am glad DCI got this. This is a pittance in comparison to many others where it seems out of control. I don't want DCI to die. I hope this keeps them alive. $4.7 Million is a pittance? Never in my life did I ever think that DCI would get a bailout. Wat will they do with this $? Disperse some of it to each corps? Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted June 26, 2021 Share Posted June 26, 2021 19 hours ago, fsthnds said: Tony Dicarlo gets his "entertainment" budget reinstated. Dinners on DCI Again! no judges this year Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted June 26, 2021 Share Posted June 26, 2021 17 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". only if someone pressed for the info or we wait for the 990's Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted June 26, 2021 Share Posted June 26, 2021 12 hours 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! you act as if Bloo is getting any of this 1 Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted June 26, 2021 Share Posted June 26, 2021 9 hours ago, BigW said: Rest Assured, From 1975ish when Jim started to 1984 when we both retired from Westshore, we didn't need Bill O'Reilly to be pithy. In fact I will say all of our Baritone players in that time frame would be pithy enough to claim we influenced Bill, not the other way around. 😸 and more full of #### ( since i grew up around all of you i am qualified to say that mostly in jest) 1 Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted June 26, 2021 Share Posted June 26, 2021 8 hours ago, jjeffeory said: I run a small IT company servicing clients in several states on the West coast. My spouse is an attorney for a small office doing the same. We've both got separate PPP loans/grants for our respective businesses, but got them later in the program. We aren't at the point where we our 1st or 2nd draws can be forgiven, but will do so very soon after our lenders finish with their guidance. The initial PPP offerings and guidance was abysmal, but things cleared up around March 2021. The only concerns are that at least 60% of the proceeds go to payroll. The rest could have gone to rent or other required expenses. Of course the SBA could always find fault with things, but they've significantly streamlined the paperwork required for forgiveness over the last several months. A lot of the problems with PPP were due to different lenders' interpretation of the rules... yup. give lenders 48 hours to create a program with little guidance and...what...consistency? Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted June 26, 2021 Share Posted June 26, 2021 33 minutes ago, TenHut said: $4.7 Million is a pittance? Never in my life did I ever think that DCI would get a bailout. Wat will they do with this $? Disperse some of it to each corps? i believe some corps got them too Quote Link to comment Share on other sites More sharing options...
BigW Posted June 26, 2021 Share Posted June 26, 2021 9 hours ago, Jeff Ream said: and more full of #### ( since i grew up around all of you i am qualified to say that mostly in jest) Truth. We love to sling it if it makes people laugh. 😸 Quote Link to comment Share on other sites More sharing options...
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