SBA-PPP Amounts over $150K Local Clubs now public

[Unregistered]

$150,000-350,000 EASTSIDE TIMBERS
$150,000-350,000 WESTSIDE METROS SOCCER CLUB
$150,000-350,000 UNITED PDX SOCCER CLUB
$150,000-350,000 PORTLAND CITY UNITED SOCCER CLUB, INC


FYI
$150,000-350,000 TURSIS SPORT INC
$150,000-350,000 ROSE CITY FUTSAL, LLC

Interesting
$150,000-350,000 EUGENE EMERALDS BASEBALL CLUB, INC.
$350,000-1 million RINGSIDE, INC

Source https://sba.app.box.com/s/tvb0v5i57o...cm9cyw7y2ms6pp

[Unregistered]

This is exactly what the program was designed for. 80% of that money went to cover paychecks. Without it the economy would be in a full scale free fall right now.

[Unregistered]

This is exactly what the program was designed for. 80% of that money went to cover paychecks. Without it the economy would be in a full scale free fall right now.

Actually that's incorrect. (80%)

The PPP flexibility act allows employers to spend up 60% of wages and 40% on other approved expenses. Also employers can pocket the monies if they find safe harbor, that is their former employee decided collecting unemployment pay was better, than recreational coaching labor---in that case the government goes after the deadbeat employee.

The program was designed to pay part-time youth recreational soccer coaches for 8 to 24 weeks of the year?Haven't read that in any of the bills yet, please give source. That would be the kind of exact legislation that will make this country great again.

[Unregistered]

Actually that's incorrect. (80%)

The PPP flexibility act allows employers to spend up 60% of wages and 40% on other approved expenses. Also employers can pocket the monies if they find safe harbor, that is their former employee decided collecting unemployment pay was better, than recreational coaching labor---in that case the government goes after the deadbeat employee.

The program was designed to pay part-time youth recreational soccer coaches for 8 to 24 weeks of the year?Haven't read that in any of the bills yet, please give source. That would be the kind of exact legislation that will make this country great again.

You are incorrect. I’m in banking and in my experience more than 80% is going to paychecks in the real world.

The rules might say that you can use for various uses but the reality is that most of that money in getting used for payroll.

Congress slapped the program together to make sure people kept collecting paychecks and businesses did not shut down forever. That plus the unemployment subsidies are keeping the country afloat right now.

Regardless of what you think of the government subsidizing a soccer coaches payroll or a ballerinas payroll, those people are getting the money and continuing to spend that money. It’s a good thing.

[Unregistered]

You can use 100% for payroll

You can use 1% for payroll

If you use 60% or more for payroll you do not have to pay it back

You use less than 60% for payroll and the rest for what they called “other” you have to repay back what you used for “other”

[Unregistered]

You are incorrect. I’m in banking and in my experience more than 80% is going to paychecks in the real world.

The rules might say that you can use for various uses but the reality is that most of that money in getting used for payroll.

Congress slapped the program together to make sure people kept collecting paychecks and businesses did not shut down forever. That plus the unemployment subsidies are keeping the country afloat right now.

Regardless of what you think of the government subsidizing a soccer coaches payroll or a ballerinas payroll, those people are getting the money and continuing to spend that money. It’s a good thing.

Since you aren't in the business of writing laws, but in the business of making money as a third party lender that strictly collects processing fees from the US Government off PPP loans in addition to your client fees on any unforgivable portions of the PPP loan, consider researching the facts of the PPP, again it's noted you stand in correction:

https://www.natlawreview.com/article...al-rule-to-ppp

Understand an employee can't get PPP payments from employer and clam Unemployment benefits at the same time, that is fraud.

The continuation of a living wage for 2 months was the purpose intent and application of the PPP while taking the strain off the Unemployment department it's called the Paycheck Protection Program.

Employers complained that the former guidelines were not helping to keep business's afloat. So the law was changed, Now in order to be 100% forgiven loans which every employer is striving for, the employer will need at spend at least 60% spent of the funds on wages & is allowed 40% on other business expenses, over a period of 8 weeks or 24 weeks, employer choice. The fact that some gig worker recreational youth soccer coaches may of gotten paid wages from the non-profit's PPP forgivable loan windfall is worthy of debate, whatever the opinion might be.

Also very few banks are even taking loan forgiveness applications at this time since the PPP program was adjusted from a short 8 week window to the new 24 week covered period, you may be in banking but have no evidence of what companies did or didn't spend the PPP funds on.

Extending this SBA loan program to non-profits is out of the ordinary for the US Government, but appreciated of course during the time of Covid.

Please continue to collect your middle man fees while the rest of us collect and drop knowledge.

[Unregistered]

Since you aren't in the business of writing laws, but in the business of making money as a third party lender that strictly collects processing fees from the US Government off PPP loans in addition to your client fees on any unforgivable portions of the PPP loan, consider researching the facts of the PPP, again it's noted you stand in correction:

https://www.natlawreview.com/article...al-rule-to-ppp

Understand an employee can't get PPP payments from employer and clam Unemployment benefits at the same time, that is fraud.

The continuation of a living wage for 2 months was the purpose intent and application of the PPP while taking the strain off the Unemployment department it's called the Paycheck Protection Program.

Employers complained that the former guidelines were not helping to keep business's afloat. So the law was changed, Now in order to be 100% forgiven loans which every employer is striving for, the employer will need at spend at least 60% spent of the funds on wages & is allowed 40% on other business expenses, over a period of 8 weeks or 24 weeks, employer choice. The fact that some gig worker recreational youth soccer coaches may of gotten paid wages from the non-profit's PPP forgivable loan windfall is worthy of debate, whatever the opinion might be.

Also very few banks are even taking loan forgiveness applications at this time since the PPP program was adjusted from a short 8 week window to the new 24 week covered period, you may be in banking but have no evidence of what companies did or didn't spend the PPP funds on.

Extending this SBA loan program to non-profits is out of the ordinary for the US Government, but appreciated of course during the time of Covid.

Please continue to collect your middle man fees while the rest of us collect and drop knowledge.

Wow you spent a lot of time typing up that jibberish. You are factual wrong and other times seem confused.

[Unregistered]

This is my favorite place to read about pandemic relief rules. Not really but please keep on trucking ladies and gentleman.

[Unregistered]

Wow you spent a lot of time typing up that jibberish. You are factual wrong and other times seem confused.

Do some research and find out the facts. Or claim it's gibberish. The choice is yours.

[Unregistered]

Since you aren't in the business of writing laws, but in the business of making money as a third party lender that strictly collects processing fees from the US Government off PPP loans in addition to your client fees on any unforgivable portions of the PPP loan, consider researching the facts of the PPP, again it's noted you stand in correction:

https://www.natlawreview.com/article...al-rule-to-ppp

Understand an employee can't get full wage PPP payments from an employer and then take Unemployment benefits at the same time, that is fraud.

The continuation of a living wage for 2 months was the purpose intent and application of the PPP while taking the strain off the Unemployment department it's called the Paycheck Protection Program.

Employers complained that the former guidelines were not helping to keep business's afloat. So the PPP law was changed, Now in order to be 100% forgiven loans which every employer is striving for, the employer can spend at least 60% spent of the funds on wages & is allowed 40% on other business expenses, over a period of 8 weeks or 24 weeks, employer choice. The fact that some gig worker recreational youth soccer coaches may of gotten paid wages from the non-profit's PPP forgivable loan windfall is worthy of debate, whatever the opinion might be.

It's also a fact very few banks are even taking loan forgiveness applications at this time since the PPP program was adjusted from a short 8 week window to the new 24 week covered period, you may be in banking but have no evidence of what companies did or didn't spend the PPP funds on.

Extending this SBA loan program to non-profits is out of the ordinary for the US Government, but appreciated of course during the time of Covid.

Please continue to collect your middle man fees while the rest of us collect and drop knowledge.

Banker got fooled....Mic drop

[Unregistered]

Since you aren't in the business of writing laws, but in the business of making money as a third party lender that strictly collects processing fees from the US Government off PPP loans in addition to your client fees on any unforgivable portions of the PPP loan, consider researching the facts of the PPP, again it's noted you stand in correction:

https://www.natlawreview.com/article...al-rule-to-ppp

Understand an employee can't get PPP payments from employer and clam Unemployment benefits at the same time, that is fraud.

The continuation of a living wage for 2 months was the purpose intent and application of the PPP while taking the strain off the Unemployment department it's called the Paycheck Protection Program.

Employers complained that the former guidelines were not helping to keep business's afloat. So the law was changed, Now in order to be 100% forgiven loans which every employer is striving for, the employer will need at spend at least 60% spent of the funds on wages & is allowed 40% on other business expenses, over a period of 8 weeks or 24 weeks, employer choice. The fact that some gig worker recreational youth soccer coaches may of gotten paid wages from the non-profit's PPP forgivable loan windfall is worthy of debate, whatever the opinion might be.

Also very few banks are even taking loan forgiveness applications at this time since the PPP program was adjusted from a short 8 week window to the new 24 week covered period, you may be in banking but have no evidence of what companies did or didn't spend the PPP funds on.

Extending this SBA loan program to non-profits is out of the ordinary for the US Government, but appreciated of course during the time of Covid.

Please continue to collect your middle man fees while the rest of us collect and drop knowledge.

You get a lot of mileage out of very little meat.

[Unregistered]

$150,000-350,000 EASTSIDE TIMBERS
$150,000-350,000 WESTSIDE METROS SOCCER CLUB
$150,000-350,000 UNITED PDX SOCCER CLUB
$150,000-350,000 PORTLAND CITY UNITED SOCCER CLUB, INC


FYI
$150,000-350,000 TURSIS SPORT INC
$150,000-350,000 ROSE CITY FUTSAL, LLC

Interesting
$150,000-350,000 EUGENE EMERALDS BASEBALL CLUB, INC.
$350,000-1 million RINGSIDE, INC

Source https://sba.app.box.com/s/tvb0v5i57o...cm9cyw7y2ms6pp

Thanks for sharing!

[Unregistered]

If these clubs were able to pay their coaches from PPP funds, then they should have refunded the player fees.

[Unregistered]

If these clubs were able to pay their coaches from PPP funds, then they should have refunded the player fees.

SBA money only covered a few months of payroll. Still paying rent, mortgages, insurance, utilities, maintenance, taxes, etc.

Most clubs losing fundraising from tournaments and sub-leagues.

[Unregistered]

$150,000-350,000 EASTSIDE TIMBERS
$150,000-350,000 WESTSIDE METROS SOCCER CLUB
$150,000-350,000 UNITED PDX SOCCER CLUB
$150,000-350,000 PORTLAND CITY UNITED SOCCER CLUB, INC


FYI
$150,000-350,000 TURSIS SPORT INC
$150,000-350,000 ROSE CITY FUTSAL, LLC

Interesting
$150,000-350,000 EUGENE EMERALDS BASEBALL CLUB, INC.
$350,000-1 million RINGSIDE, INC

Source https://sba.app.box.com/s/tvb0v5i57o...cm9cyw7y2ms6pp

Maybe it’s just me but I would rather see Oregon soccer clubs receive PPP funds than Kanye West or gross mega churches. I’m not sure what the issue is? And if you think any of these club’s PPP loans covered their expenses to the degree they should be able to hand our full refunds, you have no idea how their budgets work. Covid has been around for over four months and counting. Most PPP loans covered 2-2.5 months salary tops. Not including their many many other expenses.

Now I would be interested to see if OYSA got a PPP loan and if so how much it was. But other than that it feels like you’re trying to stir up something out of nothing.