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PPP loan info released
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This is not going to end well for some of the clubs that took the PPP and told parents thanks for the spring dues. Even if they didn’t get PPP, parents didn’t get what they paid for...period. Lawsuits are being drafted.
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Unregistered
Originally posted by Unregistered View PostThis is not going to end well for some of the clubs that took the PPP and told parents thanks for the spring dues. Even if they didn’t get PPP, parents didn’t get what they paid for...period. Lawsuits are being drafted.
The first 3 organizations all received between $150-300K. It’s right in the link from the SBA that someone provided in an earlier post. It’s a 26 MB, CSV file that’s downloaded as a Zip file and then opened with Excel.
Crazy! No shame, no humility to then turn on parents like that!
An embarrassment!
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Unregistered
It is troubling.
Originally posted by Unregistered View PostIt’s true, Princeton Soccer Academy, STA, ATS (16 Hanover Rd, Randolph, NJ), all received PPP money. If I looked harder, Wildcats and SDFC were probably there as subsidiaries too.
The first 3 organizations all received between $150-300K. It’s right in the link from the SBA that someone provided in an earlier post. It’s a 26 MB, CSV file that’s downloaded as a Zip file and then opened with Excel.
Crazy! No shame, no humility to then turn on parents like that!
An embarrassment!
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Unregistered
Originally posted by Unregistered View PostYou can download the spreadsheet directly through the SBA. https://news.google.com/articles/CAI...S&ceid=US%3Aen
Here are examples - Cedar Stars took a loan of $150,000-$350,000. PSA = same.
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Unregistered
Originally posted by Unregistered View PostPSA, STA, ATS, all received PPP between $150-350k, we can look for SDFC and Wildcats too.
Ridiculous!
I believe these clubs also provided online education throughout the lockdown.
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Unregistered
Originally posted by Unregistered View PostWhy is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?
I believe these clubs also provided online education throughout the lockdown.
Wow. Only a coach or administrator would write this. The point is these clubs took loans to cover costs and sent emails out to the parents explaining why they can’t get refunds. One point being was they had to pay their employees etc.
Online education? Get the **** out of here with that. Yes, they offered zoom meetings. By in no way is that the same as in person training.
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Unregistered
Originally posted by Unregistered View PostWhy is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?
I believe these clubs also provided online education throughout the lockdown.
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Unregistered
Some good points here.
Originally posted by Unregistered View PostNo parent would pay that kind of money for any clubs online program during lockdown. Those loans were for business to stay afloat that needed the money for payroll due to lack of income. What income was lost to these clubs? They already had the spring money and some where even asking for next year. They can lay off coaches who could have filled unemployment. All the expenses any club had for that time should have been accounted for already with this years tuition. And don't sell anyone on fees for tournaments and leagues...Most if not all have refunded a portion and/or credits for the future. All while the clubs "froze tuition" to help out...Bull****! Ask for financial assistance for next year and see how that goes.
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Unregistered
Originally posted by Unregistered View PostWhy is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?
I believe these clubs also provided online education throughout the lockdown.
The online education has no bearing on this topic. That is more about whether it provided a value that justified keeping player money.
Basically, Newman lied on his PPP applications citing the expenses he had through the spring but didn’t acknowledge or disclose the revenue had been collected earlier.
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Unregistered
Originally posted by Unregistered View PostWhy is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?
I believe these clubs also provided online education throughout the lockdown.
That's one reason why it's ridiculous, another is what others mentioned before. They received upfront payment for the entire year, and provided nothing over the Spring.
They provided online education, ok, they employed some coaches through the Spring. Anything to maintain the activity and extract a reason for why parents with kids get little refund in return.
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Unregistered
Originally posted by Unregistered View PostWhy is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?
I believe these clubs also provided online education throughout the lockdown.
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Unregistered
https://www.sba.gov/partners/contrac...ud-waste-abuse
Link to info about how to report fraud to the SBA.
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