• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Large corporations receiving large chunks of money

b2bailey

TUG Review Crew
TUG Member
Joined
Oct 30, 2007
Messages
3,743
Reaction score
2,707
Points
598
Location
Santa Cruz CA
We are seeing mention of large corporations gobbling up money from the govt loan program. Here's where I get confused.
1. Large Corp fills out request for funding.
2. Their bank submits loan request.
3. 'Somebody' in the govt grants approval.

Didn't somebody imagine the huge amounts being paid out to large corps would drain the funds that were seemingly intended to help small businesses survive?
 

DrQ

TUG Member
Joined
Jun 13, 2005
Messages
6,005
Reaction score
3,912
Points
648
Location
DFW
Resorts Owned
HICV, Westgate (second cousin, twice removed)
Be it Democrat or Republican sponsored legislation, they were filling out the applications before the bills were signed into law. Small businesses never had a chance.
 

TravelTime

TUG Member
Joined
Mar 20, 2018
Messages
8,095
Reaction score
6,461
Points
499
Location
California
Resorts Owned
All Resale: MVC DPs, Marriott Ko Olina, Marriott Marbella, WKOVR-N, Four Seasons Aviara
The reason is that many large corporations have subsidiaries so they can qualify for multiple $10M small business loans. The good news is that many of these companies are getting bad PR and returning the Money.
 

Tank

TUG Member
Joined
Oct 17, 2014
Messages
3,151
Reaction score
7,196
Points
449
Location
Northern Ohio
Resorts Owned
HICV South Beach Myrtle Beach
HICV Lake Geneva
HICV Gatlinburg
HICV Orange Lake Kissemee
Loopholes!!!

Thriving to find a way to get away with it legally !

It’s the norm , smarter you’re are, faster they are found
 

pedro47

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
22,266
Reaction score
8,689
Points
948
Location
East Coast
Large companies will always have advantages in applying for stimulus bailout moneys Because they employed the very best accountants to filled out the proper forms correctly the first time and plus, large corporations have local contacts with all the large financial institutions. IMHO.
 

Brett

Guest
Joined
Jun 6, 2005
Messages
9,421
Reaction score
4,997
Points
598
Location
Coastal Virginia
We are seeing mention of large corporations gobbling up money from the govt loan program. Here's where I get confused.
1. Large Corp fills out request for funding.
2. Their bank submits loan request.
3. 'Somebody' in the govt grants approval.

Didn't somebody imagine the huge amounts being paid out to large corps would drain the funds that were seemingly intended to help small businesses survive?

large companies have always done better .... that's why they are large
https://www.nytimes.com/2020/04/26/...action=click&module=Spotlight&pgtype=Homepage
 

PigsDad

TUG Member
Joined
Nov 1, 2006
Messages
10,116
Reaction score
7,150
Points
898
Location
Colorado and SW Florida
Resorts Owned
HGVC Elite: SeaWorld, Surf Club, Charter Club, Valdoro
Remember that large companies are large because they employ a large number of people. Are you saying that saving the jobs for people that work for large companies is less important than saving jobs for those who work at small businesses? If there is fraud, that is one thing, but if not and the loans save jobs -- no matter the size of the company -- then I have no issue with it.

I don't know about you, but I want to keep as many people working as possible.

Kurt
 
Top