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Senate passes bill to provide benefits to individuals and small businesses

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Re: Senate passes bill to provide benefits to individuals and small businesses

#71

Post by smallgovt »

buckminster wrote: post #57
dcolkitt wrote: post #28

Earlier quoted context omitted.

> Loans, even cheap ones, are a very shity way of "helping" small businesses Really disagree on this point. The primary value of a business is their assets, brands and expertise. All of those things will be just as valuable after the pandemic as they were before. Assets don't just disappear because they're not used. This is just as true for small businesses as it is for big business. Any business that was profitable…

The business may no longer be profitable because it is now servicing a large debt it didn't previously have. And unlike regular business debt, the money wasn't invested into something productive. This could go very wrong. Then again, if the business is going bankrupt anyway, who cares how much it ends up owing?

SBA loans are backed by personal gaurantees. In other words, the business owner is on the hook if the business goes bankrupt.

Re: Senate passes bill to provide benefits to individuals and small businesses

#72

Post by ookblah »

tathougies wrote: post #21
nathanaldensr wrote: post #2

"Bold and significant" eh? Kind of like the "bold and significant" test kits that never materialized, or the "bold and significant" quarantine process we should've instituted as soon as the first patient was discovered.

> or the "bold and significant" quarantine process we should've instituted as soon as the first patient was discovered. The US was quarantining americans returning from covid countries with CDC quarantine orders (federally enforceable) since Jan 31?

LOL minus the diamond princess or the obvious one from like the woman from Iran? people were falling thru the cracks like candy, i happen to know 1 or 2 people that were confused they weren't even screened at the border.

i suggest you do more than just take any announcement from the WH at face value, especially when there are numerous sources saying otherwise.

Re: Senate passes bill to provide benefits to individuals and small businesses

#74

Post by boomboomsubban »

conanbatt wrote: post #47
rapind wrote: post #20

Earlier quoted context omitted.

The amount matters. I'll take a trillion dollar loan at %0 in a heartbeat and quickly become a millionaire via conservative investments. A 20k loan at %0 doesn't do much for me though.

What would you invest in right now to make money?

With that money, a bank checking account would make you a millionaire in months.

Re: Senate passes bill to provide benefits to individuals and small businesses

#75

Post by hnick »

AnimalMuppet wrote: post #65
rguzman wrote: post #58

Earlier quoted context omitted.

> The primary value of a business is their assets, brands and expertise. All of those things will be just as valuable after the pandemic as they were before. this doesn't seem true to me. at least the brand loses value over the pandemic, and there's likely complications from cashflow that eat into other assets.

Why does the brand lose value? My favorite restaurant is still a place where I want to eat when this is all over. My favorite brand of toothpaste is still the one I want to buy. How does the brand lose value?

By saying the brand itself has value, aren't you saying that if the owner gets into debt and has to sell it off to someone else it'll be just as good? That wouldn't give you pause?

In many cases small businesses derive most of their quality from the actual owner. They don't respond well to drop-in replacements of key staff members and owners.

Re: Senate passes bill to provide benefits to individuals and small businesses

#76

Post by dang »

LeoNatan25 wrote: post #14

[flagged]

Please do not take post political, nationalistic, or ideological flamebait to HN. We ban accounts that do those things, and you've done them repeatedly lately. Please stop.

https://news.ycombinator.com/newsguidelines.html

Re: Senate passes bill to provide benefits to individuals and small businesses

#77

Post by OzzyB »

ta1234567890 wrote: post #12

Loans, even cheap ones, are a very shity way of "helping" small businesses and individuals. For example, a local restaurant where I live, will have to shut down for good in the next few days as they won't be able to afford their lease. If they get a loan for the lease, they'll be on the hook for that money with no guarantee of being able to pay it back and with way too much uncertainty in terms of when they'll be abl…

It's not the loan that's the issue, it's the loan terms.

If the terms are zero or near-zero interest for say 5 years then the effects to the business's bottom line would be mute.

If the loan is like some loanshark credit card company charging 27% compound with a three month payback, then yeah, bankruptcy is your friend.

Remember, countries take out huge loans to pay for wars that are paid back over generations, the UK just finished paying back it's loan for WW2 just recently.

These are the kind of loans people/businesses need.

Re: Senate passes bill to provide benefits to individuals and small businesses

#78

Post by [deleted] »

ta1234567890 wrote: post #12

Loans, even cheap ones, are a very shity way of "helping" small businesses and individuals. For example, a local restaurant where I live, will have to shut down for good in the next few days as they won't be able to afford their lease. If they get a loan for the lease, they'll be on the hook for that money with no guarantee of being able to pay it back and with way too much uncertainty in terms of when they'll be abl…

[deleted]

Re: Senate passes bill to provide benefits to individuals and small businesses

#79

Post by ck2 »

I have absolutely no problem with any of this but I am wondering about those who foam at the mouth against "socialism" and if they realize that is exactly what this is. You can call it anything you want to feel better "bailout" etc. but it's 100% socialism

I wonder if the hotel industry is also going to get only loans or instead unfettered cash with no need to repay, let's see how that one works with double standards.

Re: Senate passes bill to provide benefits to individuals and small businesses

#80

Post by dang »

grecy wrote: post #7

[flagged]

> After a little nudge the has USA jumped on board with other developed countries

We've had to warn you many times not to post nationalistic or ideological flamebait to HN, including just the other day. Really, would you please stop?

https://news.ycombinator.com/newsguidelines.html

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