Outdoor companies getting PPP loans

[scfreeman66]

Many of these companies were forced to close. Many were forced to eliminate expenditures (employees). The purpose of the PPP loan was to keep your employees on the payroll without substantial deduction of pay. If that, and many other qualifications were met, the loans are to be forgiven. I am all for supporting any company that keeps their employees fed. It's not been easy during this time.
I applied for the loan for my company and was sure relieved when it was approved...

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[AZOutdoors]

Is this a hunting/outdoor specific targeting to withhold future spending from? Or in all facets of life?

Will be a grim story if widespread.

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[tdhanses]

Amazes me how people look down on companies that continued to pay employees that probably make a fraction of those complaining and were still working.

Doesn’t bother me at all they met the qualifications and helped their employees continue to feed their families.

And if you didn’t get a stimulus check, you’re above middle class so stop complaining when the working class that doesn’t make a bunch is helped out. I didn’t get one but I’m all for those that did. These loans didn’t go into the owners or shareholders pockets.

 

[JRMiller]

One thing to keep in mind is the money given to them is not necassarily our tax money. Its the trillions of fiat currency “dollars” the treasury is simply printing and giving away...

 

[wapitibob]

Company I work for got money, so did a friends. Neither had laid off anybody or seen any downturn in business. All they had to do was use the money for payroll. Basically deposit it and write checks which would have been written anyway. If your bank was on top of it, you were in; notice the same utah bank for several companies.

 

[Mighty Mouse]

It's a tricky subject. I share the OP's general opposition to government handouts, but if the government breaks a guy's leg then offers him a "free" crutch, it's hard to fault the guy for taking it. I don't know how well that analogy truly applies to these companies (i.e., how many were actually forced to shut down), but it's a bit of a black mark against them in my book regardless of the exact circumstances. Government cheese is so ubiquitous though that it's very difficult, if not impossible, to avoid doing business with companies that have in some form or fashion taken a handout/favor/subsidy.

Coincidentally, Seek Outside just today posted on Facebook that their sales numbers are up 200% over last year.

 

[String&stick]

Just remember, most of these loans probably went out prior to you recieving your stimulus check and buying that new hunting gear!

I work at a bank and did a lot of these loans, most were for good people who knew or thought they needed it, some took advantage!

 

[dreamingWest]

Stong financials or weak financials weren't part of the requirementemnts, sorry to burst your bubbles.

Hard to be clear while I'm typing on a phone, but this was actually part of the point I was trying to make.

IMO, once these loans were announced, a small business would've been pretty foolish not to apply.

 

[Reburn]

I have mixed emotions. My company got it. We are using it appropiately so it will be "forgiven". We haven't slowed down really but like others covid has affected some of my suppliers and lead times making it harder to complete jobs.

I'm not a fan of goverment cheese. How ever thats my cheese and we pay our taxes. Taxes and more taxes. They are giving it out it doesn't make sense to not take some of our own money back. I probably would have laid off 35-45% of my staff and went into ultra lean fight weight mode instead of slightly lean mode. I know the employess that got to keep their jobs are grateful. On the other hand if our taxes weren't so high I would have happily traded lower taxes for not getting it.

I see the companies that got it as fiscally prudent. You had to be fast and aware of what was going on. Your books had to be in good order to produce the numbers they wanted in the timeframe that was needed. They saw a way to ensure their workers livelihood and not bankrupt their company doing it. I say good job.

 

[elkyinzer]

Sorry, but it is foolish to leave PPP money on the table. We can argue the macroeconomics of it separately but it is essentially a tax break....do you pay more in taxes because you are so virtuous also?

 

[elkyinzer]

Maybe RMEF can finally bribe the UDWR with their guvment cheese though, don't see SFW on the list.

 

[alexanderg23]

I see no problem with taking PPP$. As an accountant I helped a few companies apply and get loans that will be forgiven. The companies didn’t create this broken systems, but are forced to be a part of it.

 

[Trial153]

Hard to be clear while I'm typing on a phone, but this was actually part of the point I was trying to make.

IMO, once these loans were announced, a small business would've been pretty foolish not to apply.

Not true. A solvent company sitting on cash could have laid off their employees and told them to fend for themselves. Plenty of companies were trying to do the right thing by their employees and stay afloat at reduced capacity. Keep in mind that laid off employees collect unemployment and in some cases Medicaid. By company's taking on the debt and maintaining payroll there is axillary benefits to the economy vs the alternative of further swollen unemployment rolls.

 

[mlgc20]

Of all the foolish things our government spends billions on, this is not one I’m worried about. I am a Libertarian. But, I certainly took advantage of the government student loans, while in college and grad school. To quote Doc Holliday, “It appears my hypocrisy knows no bounds.”

 

[String&stick]

If you're truly going down the "I'm not buying from those taking govt funds" rabbit hole, you are going to have a tough time eating as farmers received a whole lot of government funds the last few years regardless of if they were profitable or not!

 

[ManyBullets]

We wouldn't be having this discussion if the gov't didn't arbitrarily shut down businesses based on questionable at best science. This whole thing's a gray area for a lot of folks. I didn't apply for PPP and know a lot of people that didn't need the money but applied anyway and got ridiculous amounts of money they didn't need.

Like any good drug dealer the first taste is free. After that it's gonna cost ya...

 

[realunlucky]

Wade Lemon Outfitters now that's just crazy.

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[2ski]

All these companies didn't know what the next few months held. You're being smart to take the money.

I'm sure everyone is waiting to refinance their home when the fed puts the interest rate back up right....?

 

[Deere83]

If you're truly going down the "I'm not buying from those taking govt funds" rabbit hole, you are going to have a tough time eating as farmers received a whole lot of government funds the last few years regardless of if they were profitable or not!
[/QUOTE

I farm in Western Colorado and don’t know exactly what you’re referring to can you please steer me towards feeding my family with government moneyed opposed to sweat. I know about the soybean subsidies but we’ll leave US-Chinese politics out of this

 

[WCB]

I agree with someone who asked how the Mule Deer Foundation has 300 employees....but never mind that. To the OP did you know that Conservation Orgs have had to lay off biologists? They rely on donations and they aren't coming in due to this crap hitting right smack dab during convention/banquet time. I have a close personal friend that is a Biologist and his org. is looking at millions....I say again, MILLIONS short in donations. That's what keeps the lights on and the projects going for conservation.