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Searchable PPP Loan Data

pppreport.org

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Re: Searchable PPP Loan Data

#71

Post by kradroy »

sriram_sun wrote: post #31
rco8786 wrote: post #24

Earlier quoted context omitted.

Worth noting that they will owe this back unless they can show it was used for payroll purposes. How they got that much money in the first place is a definite mystery though.

What if they go bankrupt after generously paying employees?

That would be considered "mala fides" and the court would likely hold the officers/directors liable for the loan amount. Also, prior to filing for bankruptcy any attorney worth his spit will advise his client to fully repay or continue paying obligations to the US government. US government-backed loans are very difficult to completely discharge in a bankruptcy.

Re: Searchable PPP Loan Data

#72

Post by alasdair_ »

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.

>I definitely don't think they saw the number of ambulance rides go down.

I'm friends with an ER nurse and she was saying that the ER was almost completely empty during the first few weeks of COVID-19 because everyone was staying home out of fear.

Re: Searchable PPP Loan Data

#73

Post by spocklivelong »

koolba wrote: post #63

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?

Why is it listed as a Non-profit?

Re: Searchable PPP Loan Data

#74

Post by dfxm12 »

Amorymeltzer wrote: post #68

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…

I wonder if learning how to spell Philadelphia, Pennsylvania correctly at a young age must make one better at spelling than just having to to write something easier, like New York, New York.

Re: Searchable PPP Loan Data

#75

Post by knowhy »

chejazi wrote: post #42

Anyone know the reasoning for the $150k cutoff?

The raw data for loans under $150k seem to be here: https://home.treasury.gov/policy-issues/cares-act/assistance...

https://pppreport.org/about.php > Details for loans under $150,000 remain mostly private, though industry codes and issuing bank details are available.

Re: Searchable PPP Loan Data

#76

Post by fullstop »

css wrote: post #37
fullstop wrote: post #27

Earlier quoted context omitted.

How about this chiropractor? https://pppreport.org/company/connelly+chiropractic+inc

Even more ridiculous, they reported it was for "Investment Advice" on the claim: https://www.naics.com/code-search/?naicstrms=523930

According to D&B they have 10 employees and an annual revenue of ~$183,858, although I do not know how accurate that is.

Re: Searchable PPP Loan Data

#77

Post by eric_b »

So many complaints here. Based on the comments I think there is some misunderstanding about the nuts and bolts of this program.

These are loans. They are two year low interest loans. They have to be paid back unless some or all is forgiven. Forgiveness requires documentation on employees retained, wage history, and is capped at $20k/employee maximum. And of course a piece of that comes back to the government in terms of payroll taxes. Just because a company took a 1M loan, doesn't mean it will be 100% forgiven.

For those complaining the companies don't "need" the money - I know many households who received $4k+ in stimulus checks that didn't need it. Should they not have taken it?

And anyways, the whole point of this program was to get money to businesses quickly. Means testing takes time. Sure there are going to be some questionable loans. Some fraud too. But overall our government has spent a lot more money and gotten worse returns than the PPP.

Re: Searchable PPP Loan Data

#78

Post by xemdetia »

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…

I think this feels like a misunderstanding of what the PPP loans were designed to do. They were an economic incentive to keep people on payroll instead of a mass layoff or long term furlough. The correct business decision if you are no longer allowed to operate a business or you are no longer bringing in revenue to support the business you currently have is to do layoffs. If you have anticipation that the revenues will return to normal you can try a furlough. There's no economic incentive to keep people employed if all expenses including payroll suddenly eclipse the revenues of a business, and there's no incentive for a business owner to put personal wealth into their business if it has a great chance of never recovering.

The fact that the fixed expenses during this pandemic did not stop for corporations made the expense of payroll which provided significantly reduced revenue stand out. Even law offices and physicians have very high recurring expenses like insurance that they just can't stop and start on a dime and stay in business. It made no sense to keep people on the books until PPP gave a compelling reason to do so. It isn't about 'keeping a wealthy lifestyle' as much as 'keeping a functioning business' a lawyer or physician with no practice is just as much a drag on the economy as anyone else.

Re: Searchable PPP Loan Data

#79

Post by ocdtrekkie »

llamataboot wrote: post #35

I really think we should not call these loans, as that obscures what they are. Like it or not, the vast majority of these will be forgiven. We could argue that it was a good use a stimulus funds, or a bad use, but it was basically fre money funneled through businesses in a fairly un-transparent way. Of particular reference here - startups that laid off employees and /then/ applied for a PPP loan https://layoffs.fyi/2…

Arguably it's a pretty transparent way: We're looking at a database of companies that got them.

Re: Searchable PPP Loan Data

#80

Post by cj »

spocklivelong wrote: post #73
koolba wrote: post #63

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?

Why is it listed as a Non-profit?

Looks like YC Research is no longer affiliated with Y Combinator, and has been renamed to OpenResearch. I wouldn't be surprised if their legal entity name hasn't changed from the original.

https://blog.ycombinator.com/yc-research/

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