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(ProPublica)   Curious how much PPP money a company received? That information is now online   (projects.propublica.org) divider line
    More: Interesting, Hebrew numerals, Loan, Federal Loans, Current site, part of the Paycheck Protection Program, nonprofit organizations, Search Every Company Approved, low-interest loans  
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990 clicks; posted to Business » on 24 Jan 2022 at 6:05 AM (16 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



21 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-01-24 6:06:10 AM  
So how do I report my last employer for claiming that 100% went to payroll despite the fact that they were buying TV commercials?
 
2022-01-24 6:08:30 AM  
List is incomplete.  I know of two businesses that received the loans and they aren't on this list.
 
2022-01-24 6:12:55 AM  

sleze: List is incomplete.  I know of two businesses that received the loans and they aren't on this list.


My bad.  You have to use && as the AND.  For example, if you want McDonalds in some zip, you would type:

McDonald && 12345

Found both businesses.  Also surprised at how little it shows they received.
 
2022-01-24 6:56:12 AM  
The list has been online for over a year now. In multiple places. So I guess way to pay attention and stay informed, subby.
 
2022-01-24 6:59:41 AM  
Hasnt it always been online? I looked up my employer over a year ago and saw they got between $5 million and $10 million in 2020. Meanwhile, they froze salaries for the last 2 years, had expenses decrease (since we're all WFH and they cancelled a lease on at least one of our offices), did not lose a single client, signed up several new clients (increasing revenue), and WON A MAJOR INDUSTRY AWARD (cue leg lamp images) for continuing to provide our services during the pandemic.

I have no proof or way of proving this, but I have no doubt that the owner used the PPP money for payroll (which means it isnt taxed and doesnt have to be repaid) and just redirected the existing and equivalent payroll funds straight into his own pocket. Which means that he stole $5-10 million in taxpayer money and pocketed it, and that I worked for free for a chunk of 2020 since my tax dollars contributed to that PPP fund to begin with.
 
2022-01-24 7:36:23 AM  
My company got one, and it kept 30+ restaurants afloat for a few months. We did nothing but to-go business, and we were limited on how many hours our people could work, to get the most people back to work--though, the staff shared tips, and that pushed most of them much more towards their regular wage.

It kept the banks paid, it kept the the lights on, and it kept our suppliers paid up, and even gave them new business when things were absolutely flatlined except for grocery stores and the like. For us, PPP kept the company from closing a good chunk of the restaurants we had up and spinning. We had to abandon four new concerns that were slated to go forward that year--we had been averaging four to five new restaurants a year--and the downturn has forced closures of another four restaurants where the markets haven't sprung back, but the PPP saved the company from a catastrophic setback, and when applied properly, they were a lifeline to a lot of places, and their workers, not to mention got the wheels of commerce rolling again as distributors got new business, utility companies got paid, and the banks certainly got their payments. What infuriates me about the program is that it was rife for abuse, and at the time, there was little to no real oversight, but when they were used as intended, it was a good bill, just a li'l...lax...in the oversight and enforcement aspects, which meant they were great for folks who wanted to game the system. Which, to be fair, was sort of the point. If there hadn't been grifting possibilities, it would have never passed Congress at the time.
 
2022-01-24 7:41:38 AM  

hubiestubert: My company got one, and it kept 30+ restaurants afloat for a few months. We did nothing but to-go business, and we were limited on how many hours our people could work, to get the most people back to work--though, the staff shared tips, and that pushed most of them much more towards their regular wage.

It kept the banks paid, it kept the the lights on, and it kept our suppliers paid up, and even gave them new business when things were absolutely flatlined except for grocery stores and the like. For us, PPP kept the company from closing a good chunk of the restaurants we had up and spinning. We had to abandon four new concerns that were slated to go forward that year--we had been averaging four to five new restaurants a year--and the downturn has forced closures of another four restaurants where the markets haven't sprung back, but the PPP saved the company from a catastrophic setback, and when applied properly, they were a lifeline to a lot of places, and their workers, not to mention got the wheels of commerce rolling again as distributors got new business, utility companies got paid, and the banks certainly got their payments. What infuriates me about the program is that it was rife for abuse, and at the time, there was little to no real oversight, but when they were used as intended, it was a good bill, just a li'l...lax...in the oversight and enforcement aspects, which meant they were great for folks who wanted to game the system. Which, to be fair, was sort of the point. If there hadn't been grifting possibilities, it would have never passed Congress at the time.


One thing I would add is that at least they've been doing a fairly decent job of catching the grift after the fact. I think a lot of people don't realize just how many PPP scammers have been arrested and charged, mostly because the media only covers the really egregious and hilarious cases. But we're up to thousands of people facing prison time now, and the investigations aren't slowing down.
 
2022-01-24 7:42:35 AM  
Recipient
FARK, INC.
Location
VERSAILLES, KY
Loan Status
Forgiven as of Feb. 16, 2021
Loan Amount
$68,115
Date Approved
April 27, 2020

Recipient
DOUGLAS D FARK
Location
West Manchester, OH
Loan Status
Forgiven as of Aug. 10, 2021
 
2022-01-24 7:48:07 AM  
Subby, the information has been available online for a long long time. You can download the entire database directly from the SBA website and I have multiple times for updated lists. This link you've posted was originally made in 2020 and has only been updated to late 2021.
 
2022-01-24 8:18:18 AM  

bighairyguy: Recipient
FARK, INC.
Location
VERSAILLES, KY
Loan Status
Forgiven as of Feb. 16, 2021
Loan Amount
$68,115
Date Approved
April 27, 2020

Recipient
DOUGLAS D FARK
Location
West Manchester, OH
Loan Status
Forgiven as of Aug. 10, 2021


Douglas is goona get sued
 
2022-01-24 8:24:57 AM  

the unabomber was right: So how do I report my last employer for claiming that 100% went to payroll despite the fact that they were buying TV commercials?


You really don't have enough information to report him if that's all you know. First of all 100% did not have to go to payroll. Several other qualifying expenses are allowed such as rent and utilities.

Second of all, it's pretty hard to distinguish what the funds actually went for. They got loans for the equivalent of 10 weeks of payroll, and while initial guidance gave them 8 weeks to spend those funds to qualify for forgiveness, revised guidance (after the 8 week period was up) ended up giving them until the end of the year to expend those funds. So if your boss got 100k in a PPP loan, providing they spent over 100k on payroll in the year, then they likely are covered legally and because the loan was based on 10 weeks of payroll expenses, chances are they burned that up extremely easily unless they fired 3/4+ of their workforce. The fact that they still ran advertisements doesn't mean they did anything wrong given that they probably had money in the bank before asking for the loans and likely had some income still coming in. If getting a PPP loan meant you could only spend money on PPP allowed expenses, then businesses wouldn't be able to pay their share of the social security tax for example which wasn't part of the qualifying expenses, nor was state taxes they were required to pay. You don't expect them to be locked up because they were able to pay these items with other funds they had available to their business do you?

Now if they were making luxury purchases and not actual business expenses then that's potentially a different story. Part of the PPP process was a declaration that their business felt financially stressed. You can't exactly make that declaration then go out and by a lambo on company funds. And for the record, there was caps as well so they couldn't try to pull slight of hand by giving themself a huge paycheck and buying it personally as payroll for any individual person within the company was capped when doing the calculations for qualifying for forgiveness or qualifying expenses the funds were used on.

Also keep in mind, for the first 10-12 weeks of the initial round of PPP loans, businesses were told to qualify for forgiveness they had to spend those funds within 8 weeks of getting those funds on qualifying expenses like payroll and rent. Many businesses couldn't come close to spending it all unless they kept people on and paid them, and depending on the type of business, some couldn't even do that since they lacked the other qualifying expenses beyond payroll to burn up the extra 2 weeks of payroll expenses the loans provided for but didn't include in the limited time window (the law was designed for those extra weeks to go towards the other non payroll qualifying expenses). Then afterwards, they issued revised guidance giving PPP recipients until the end of the year to expend the funds and still qualify for forgiveness making it almost impossible for most not to expend them legally unless they literally had no employees for the rest of the year. The net result is nearly all employers had already spent a vast bulk of their PPP loans on qualifying expenses in the first 8 weeks anyways not knowing the window would be extended and not wanting to risk not being forgive for a bulk of the loan and the only ones that didn't either had connections to know what was coming down the pipeline, or didn't know enough about the loans to understand what they needed to do to qualify for forgiveness and got lucky.
 
2022-01-24 8:25:24 AM  

arrogantbastich: bighairyguy: Recipient
FARK, INC.
Location
VERSAILLES, KY
Loan Status
Forgiven as of Feb. 16, 2021
Loan Amount
$68,115
Date Approved
April 27, 2020

Recipient
DOUGLAS D FARK
Location
West Manchester, OH
Loan Status
Forgiven as of Aug. 10, 2021

Douglas is goona get sued


Fark around Find out?
 
2022-01-24 8:50:50 AM  

arrogantbastich: bighairyguy: Recipient
FARK, INC.
Location
VERSAILLES, KY
Loan Status
Forgiven as of Feb. 16, 2021
Loan Amount
$68,115
Date Approved
April 27, 2020

Recipient
DOUGLAS D FARK
Location
West Manchester, OH
Loan Status
Forgiven as of Aug. 10, 2021

Douglas is goona get sued


I was working on sanitizing those records but accidentally hit Add Comment too soon.
 
2022-01-24 10:05:24 AM  

Dick Gozinya: Hasnt it always been online? I looked up my employer over a year ago and saw they got between $5 million and $10 million in 2020. Meanwhile, they froze salaries for the last 2 years, had expenses decrease (since we're all WFH and they cancelled a lease on at least one of our offices), did not lose a single client, signed up several new clients (increasing revenue), and WON A MAJOR INDUSTRY AWARD (cue leg lamp images) for continuing to provide our services during the pandemic.

I have no proof or way of proving this, but I have no doubt that the owner used the PPP money for payroll (which means it isnt taxed and doesnt have to be repaid) and just redirected the existing and equivalent payroll funds straight into his own pocket. Which means that he stole $5-10 million in taxpayer money and pocketed it, and that I worked for free for a chunk of 2020 since my tax dollars contributed to that PPP fund to begin with.


Looked up my former employer, a trucking company that subcontracts for the post office, did not have to shut down during lockdown, and was never in danger of losing revenue. Looks like ownership came away with about 4 million to pocket and tripled its contracts since COVID-19. Glad I ran away from that place.
 
2022-01-24 11:20:13 AM  

the unabomber was right: So how do I report my last employer for claiming that 100% went to payroll despite the fact that they were buying TV commercials?


Try Reddit
 
2022-01-24 12:13:08 PM  
Cool, the local climbing monopoly got $1.2M, which they seem to have used to build a new location, a mile from the original location.
 
2022-01-24 12:46:26 PM  
oh look tons of data, made mostly useless by poor search and filtering tools.
w can just guess that the four most populace states are where the most loans came from fooking duh.

What'd a been real was to filter/search/organize by say amounts, once we get to the private sector business level that actually took the money.
 
2022-01-24 3:06:59 PM  
Surprise, surprise: Florida and Texas received the 2nd and 3rd most loans.
 
2022-01-24 3:13:15 PM  
The fark? CHURCHES are on this list?
 
2022-01-24 8:51:08 PM  
We're drug tests required before this welfare was paid out?
 
2022-01-24 8:55:57 PM  
I see a company I know received almost 300k....funny thing is, they weren't really in any financial hardship (their business flourished during lockdown ).

I guess if you're willing to lie about it, having uncle sucker pay 300k worth of your payroll is a pretty sweet deal.
 
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