Paycheck Protection Program

“So it was proven that two hundred billion of the 1.2 trillion was going to Chinese Fraud gangs.”

“And we're so happy to say that over a hundred people who were first denied for their original PPP application, we helped them secure PPP funds afterwards, the second attempt.”

“A survey published in May found that only eight percent of African-American business owners that had applied for federal relief or assistance actually received the money.”

“Because of the rules around how you have to use it in the time period you have to use it, it's not free money, and it's not money that is like an extra cushion.”

“No, I actually think we raised more money from investors because of it.”

“What it is, it's a demonstration of how solvent your business is. It's like, can you get your together enough to apply for this program in short order and have your finances in good shape so that you can like, just do better for your business. They put it in t…”

“But if you listen to investor Jillian Maness, she says that the government should not be giving any help to some startups. And she even convinced one of her companies to give their PPP money back.”

“We got the money on Thursday.”

“We developed PPP, this is at Square, in a crisis. And we ended up with a core team of people working on it, and then we literally got the entire company of Square to volunteer for us to be, you know, loan reviewers twenty-four-seven during that period of time,…”

“I was very concerned about our accounts receivable when COVID started. Well, something very surprising happened, and this was even before the PPP. People paid their bills more quickly. I almost feel like at least for my particular business, we've shifted more …”

“So we got 270,000 dollars.”

“A 217,000.”

“Your job is to have your company survive, and if taking that money will do that, then for gosh sake, take the money and have the other discussions later after you're a successful company.”

“Within 36 hours of understanding the government had run out of money, the company and its board made the decision to return it, and it was the first of any public company to do so, and that actually began a cascade of, What I'm told is well, well north of two …”

“No, I didn't apply. So, right, I, my salary does not qualify, and the other two U.S.-based folks that we have are 10 99, so they don't qualify either.”

“The math makes it so that you're better off furloughing or letting people go than you are taking PPP, which means that a lot of this money may never get taken.”

“It's a little over a million. I have no idea what to expect. We put the application in and”

“I think it should be around a half a million dollars. It could, it depends on how they categorize our freelance writers. If they include those as well then it would be possibly double that, but I expect them not to.”

“There's not going to be enough in there for the first round. They're either going to have to reduce the amount or find some other way to funnel through or offer a heck of a lot more.”

“I would say that as a founder, if you have an opportunity to get cash from the government at this point, like I try to do it. And you're certainly going to pay enough in taxes over your lifetime. So if this is your one opportunity to get a little bit, then sur…”

“So the trick with this that, you know, Connor, that I'm trying to share with people is I think the money will run out. Right. If you take three hundred fifty billion. Right. At a max of ten million per company, that's only 34,000 companies. Right. Even even if…”