PPP Bandits
Jenny W Clark
The Oprah of Federal Contracting at Solvability, Inc. Founder of GovConSummit, a virtual accelerator network for small businesses in federal contracting, especially veteran entrepreneurs who hire veterans.
The PPP Bandits have taken advantage of a program that was not meant for them.
As publicly held companies, they choose to go after cheap money.
Their C-Suite executives justified the actions with this:
- The rules don't specifically exclude us.
- Our legal team told it that we could do this.
- Our bank said it was ok -- otherwise they would have stopped us.
- Who wouldn't want a 1% interest loan that we could possibly get forgiven on.
- If we don't do this, our employees (including us Execs) will suffer.
Many of these companies are listed on LinkedIn and I encourage everyone to check them out and ask them what made them think they are "ENTITLED" to these funds?
Let's talk about Social Responsibility and talk about the companies that have stepped in to lead during these unprecedented times.
- Thank you to Bank of America:
- Thank you to Publix
- Thank you to USAA
As a small business, you may not have the resources to chase your elected representatives, and it might not have much impact.
Here's what you CAN do:
Please add to this list of corporations are Socially Responsible and thank them.
Ask the PPP Bandits about their Social Responsibility and encourage them to give back the funds - and to make a large donation to show that they might have been misguided ... have recognized and admitted their mistake .... and want to make amends.
#PPPBandits
Here's a link to the Top 40 - with their LinkedIn links to company.
https://bit.ly/PPPBandits
A few I'm not sure about - don't judge them all too harshly - but ASK them a few questions!
Join me in taking action as a small business owner - we may not be able to influence Washington but we can make some noise here on LinkedIn.
Thank you for reading this and being willing to take action, whatever you choose!
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Redefining Goal, Resilient, Calm Under Pressure, Solution Goalie, U S Veteran
4 å¹´Should the Lakers, the Kennedy Center, Shake Shack have gone after the loans? It was not intended for them although they got it. Is all their life's savings into one location, are their lives put in such a quandry for not having the loan? I appreciate the viewpoints of greedy entities which reveal how they feel on anybody else making it until the end of year. Support the tiny business by giving the loans back to be used for what they were intended.
Strategist for Small Business â—† Purposefully Profitable Practitioner â—† International Speaker â—† Best Selling Author
4 å¹´Give it back! Give it back! No need to ask them! Everyone who has eyes can now see what has previously existed in the shadows.
#GovCon #SmallBiz #AcquisitionPolicy #ProcurementPolicy #MarketAnalysis, #GovConNerd??. Easily distracted by dogs, tea, & GovCon memes. PERSONAL, UNOFFICIAL account.
4 å¹´Im with Michael LeJeune on this. Should they have done it? Meh. Did the law have specific language that included the companies? yes. Why did the legislators choose to redefine what a #smallbiz is for this program instead of using, e.g. NAICS based sizes developed by SBA? Who was at that dressing table to write '500 employees' and other generous language? No, I don't *like* that the corps did it. But We The People, through the Executive and Legislative branches said they could.
??Logistics & Transportation Solutions ?? I ??Supplier Diversity Advocate???? ???? I Six Sigma Black Belt ?? l Practicing Philosopher ??l Heroic Ambassador
4 å¹´Add me to list of rabblerousers this is so sad! Corporations / banks need to produce answers for their gross misconduct.