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Large corporations receiving large chunks of money

b2bailey

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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

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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

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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

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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

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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

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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

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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
 
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