Searchable PPP Loan Data • Hacker News Board

Re: Searchable PPP Loan Data

#61

Post by derision » Tue, Jul 07, 2020, 5:38 PM UTC

cj wrote: post #43

tfandango wrote: post #26

Just looking through my home town for businesses I know about... A fair number of them I know carried on with business as usual and had no financial problems (one I used to work for). Seems wrong when there are lots of people in the same town lining up outside the unemployment office every day...

Not sure why this comment is being downvoted. I just searched my local city and noticed that our (for profit) ambulance service received a loan: > DIAZ MEMORIAL AMBULANCE SERVICE INC I definitely don't think they saw the number of ambulance rides go down. And also don't think their profits suffered.

There's been a number of articles floating around about people avoiding hospitals / emergency rooms for non-COVID related reasons because of concerns about COVID, and that people were suffering (and sometimes dying) at home rather than going to the hospital like they normally would. I'm sure a good portion of those include times when an ambulance would have been called

Re: Searchable PPP Loan Data

#62

Post by svachalek » Tue, Jul 07, 2020, 5:40 PM UTC

Hmm, right at the top, 4 loans to 4 different businesses through 3 different banks to a residential address, including "venture capital" and "investment empire".

https://pppreport.org/location/CA/CAMPBELL

Most of the rest here look pretty legit as far as I can tell. The carwash got 3 loans which seems a little fishy? but to be fair they are a very busy one with a lot of employees.

Re: Searchable PPP Loan Data

#63

Post by koolba » Tue, Jul 07, 2020, 5:40 PM UTC

Per https://pppreport.org/company/y+combinator+research+inc

> We found 1 loan(s) for Y Combinator Research Inc meeting or exceeding the public reporting minimum of $150k.

> Loan Amount Range $150,000-350,000

> Business Name as Filed Y COMBINATOR RESEARCH, INC.

Is YC Research an entirely separate entity from YC core?

Re: Searchable PPP Loan Data

#64

Post by troebr » Tue, Jul 07, 2020, 5:41 PM UTC

eli wrote: post #56

cj wrote: post #43

Earlier quoted context omitted.

Not sure why this comment is being downvoted. I just searched my local city and noticed that our (for profit) ambulance service received a loan: > DIAZ MEMORIAL AMBULANCE SERVICE INC I definitely don't think they saw the number of ambulance rides go down. And also don't think their profits suffered.

With all elective surgeries cancelled? I dunno but I’d be careful making assumptions.

I agree with not making assumptions. However I don't think you'd take an ambulance for an elective surgery since it's not an emergency.

Re: Searchable PPP Loan Data

#65

Post by [deleted] » Tue, Jul 07, 2020, 5:41 PM UTC

chejazi wrote: post #42

Anyone know the reasoning for the $150k cutoff?

[deleted]

Re: Searchable PPP Loan Data

#66

Post by jowiar » Tue, Jul 07, 2020, 5:41 PM UTC

jm4 wrote: post #49

unethical_ban wrote: post #7

There are several scenarios that frustrate me. Examples like law firms or physicians' offices. These are relatively small firms with very wealthy principals. They are asking for taxpayer money to maintain their wealthy lifestyles, so they don't have to sacrifice their Bentleys to pay staffers. Examples: Thomas J Henry in San Antonio. LLCs and franchisees that probably have millions of dollars in holdings and cash, bu…

A lot of misinformed generalizations here. I work for a firm where staff took 20% pay cuts, partners took much larger cuts and the principals likely will not be paid at all this year. I had to lay off a dozen people personally. Other firms took similar or more extreme measures. Law firms are getting hit fairly hard like a lot of other businesses. We didn't take PPP funds, but if we did and it saved some of the 70 of…

> why should someone have to liquidate personal possessions to pay someone else anyway

The issue is there's serious moral hazard where owners of a private business can, rather than maintaining a balance in the business, pay themselves the cash, then grovel to the public to bail them out. If you're socializing the risk, you shouldn't get to privatize the reward.

Re: Searchable PPP Loan Data

#67

Post by antisthenes » Tue, Jul 07, 2020, 5:42 PM UTC

greatwave1 wrote: post #8

I'm working on a dashboard to map each of these loans geographically: https://www.quiverquant.com/sources/sbaloans It's a slow process (as I've been respectful of the rate-limit on the reverse geocoding API I'm using), but I finished mapping four states and hope to complete the other 46 by the end of this week.

Wouldn't you just end up with a population density map?

Cool project though.

Re: Searchable PPP Loan Data

#68

Post by Amorymeltzer » Tue, Jul 07, 2020, 5:42 PM UTC

Peripherally related, but this tweet by @dataeditor at the Washington Post was amusing (https://twitter.com/dataeditor/status/1280278987797942272):

>Philadelphia, to its own credit, is spelled at least 57 different ways in the PPP loan data

(an image is included, with various items, such as "PHIADELPHIA", "PHILADELPHIA,", and "PHILLY")

Pretty well sums up data science. He also notes that Chicago is spelled 31 ways (https://twitter.com/dataeditor/status/1280277322596311041).

Re: Searchable PPP Loan Data

#69

Post by king_magic » Tue, Jul 07, 2020, 5:43 PM UTC

Jommi wrote: post #50

mattbeckman wrote: post #17

You can get a $5-10 Million loan for 14 employees at a nail salon? https://pppreport.org/company/snappy+nails+s+p+a+9+inc Damn.

It depends on the salary levels from last year.

So... last year's average salary was $357,142 per employee? :)

Re: Searchable PPP Loan Data

#70

Post by mywittyname » Tue, Jul 07, 2020, 5:45 PM UTC

schoolornot wrote: post #47

Of all types of institutions, why should we be giving the banks the right to decide which businesses should be recession proof or not? Personal opinion but I would have required the applicants of these quasi-forgiveness loans to give up 35% of their businesses to the state/county/federal inclusive of all assets and investments non-dischargeable by bankruptcy. We have 100,000 people dead in this country, million dolla…

>and yet the stream of cash continues to flow to those too stupid to save a few months of operating expenses/payroll.

That's a bit of a harsh take. Lots of businesses took out these loans preemptively because they knew the money would dry up soon. Both the company I work for and our family business had applications ready to go the minute they could be filed because it was clear that the application process was going to be a mess.

I agree with you that the forgiveness should be tied to an ownership stake in the business, and that dispersal of funds should have only happened with demonstrable need of funds. But the people involved knew this was going to be a handout and acted accordingly. Taking these funds is an indicator of good business sense, not poor.