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Surly Thread of Business Owners/Managers, Etc. & Current Business Climate

Featured Replies

40 minutes ago, Reagan1k said:

This is no small point in the overall discussion of what the recovery will look like.  For many companies / industries, there is work TODAY as we are still picking fruit from projects planted months before the 'rona hit.  When the slowdown will manifest is in the months to come when there is nothing in the pipeline due to stoppages in project development.

Some of the economy will bounce right back where there is immediate demand, but there are are going to be gaps where there is a break in the work cycle and nothing can fill that but time.

That's a great observation.  Certain industries that have longer lead times, longer receivable terms and bigger backlogs are set up to weather the initial storm, but will feel the impacts of this shutdown months or even years down the line.  The industries that were hardest hit were those with point-of-sale transactions that shut off immediately.  The only plus-side to those business models is cash flow is almost immediate, so when the reigns start to loosen, they should see an immediate boost to revenue and hopefully profits.

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  • Spaulding Smails
    Spaulding Smails

    Subscribed.  I've posted in two of the other threads, but I have a construction (residential and commercial) and facility maintenance company in Austin.  65 employees currently.  80% of my workforce c

  • MaclovioBrown
    MaclovioBrown

    CaboWabo and I run a small bank in South Texas with low workload on PPP approvals. PM if stuck in big bank queue and at risk of missing first tranche of funding. We can get you an SBA loan number in a

  • VABuckeye
    VABuckeye

    Bam! We were just awarded the Federal Reserve project we bid back in February.

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100%. We are actually looking at our best first half of the year in almost 5 years right now, amazingly enough. But I fear this fall on.

3 minutes ago, Spaulding Smails said:

Certain industries that have longer lead times, longer receivable terms and bigger backlogs are set up to weather the initial storm, but will feel the impacts of this shutdown months or even years down the line.

This is us. Our receivables and lack of payables (no need to buy inventory when you aren't selling anything) will allow us to weather 3 months easily. If things don't pick up in the next 60 days, we are going to have a bad time.

Same for me. Plenty of work in pipeline right now. New work has been non-existent past month. I’m a wholesale manufacturer that depends on a network of brick and mortar retailers to sell my products. If shit doesn’t start opening up soon, I’m in trouble.

Independent contractors weren't eligible for the PPP loan until Friday, just in time for most lenders to close their application process. I'm now on the outside looking in. My bank's website reminds me that there are plenty of other banks offering the loan, which feels like a slap in the face because none of them are lending to people who don't have a business account with them. Waiting to hear back on when they'll open the application process back up, but it's starting to look like the path of least resistance is finding a bank that is still taking applications and just switch over to them.

  • Author

Contact MaclovioBrown.  Send him a PM.  I can't say it enough.  He will take care of you.  PP loans are not shut down.

I wonder how many referrals I've sent him at this point.  Has to be around 20.  lol

30 minutes ago, G650 said:

100%. We are actually looking at our best first half of the year in almost 5 years right now, amazingly enough. But I fear this fall on.

We didn't feel the effects of '08/'09 until '10 and '11.

What was already in motion stayed in motion but there were no new projects (for my work) conceived during the upheaval and my time lag from project conception to sale is about 2 years.  I too look strong right now but the layoffs in the oil industry will certainly hurt me down the road and I have precious little visibility into what's going from pen to paper right now with regard to new projects in light of the quarantine and related uncertainty.

a couple of very large businesses, like Ford or Boeing,  going under(I/m not calling any) would really complicate things too.

 

It doesn't really matter much what industry they are in the Receivables shockwaves will be felt everywhere.

 

 

25 minutes ago, Reagan1k said:

We didn't feel the effects of '08/'09 until '10 and '11.

Precisely. '08 was one of our best years.

28 minutes ago, VABuckeye said:

Contact MaclovioBrown.  Send him a PM.  I can't say it enough.  He will take care of you.  PP loans are not shut down.

I wonder how many referrals I've sent him at this point.  Has to be around 20.  lol

You're gonna get a sweet golf ball mark repair tool with his bank's name on it.

  • Author

I'm just glad to give some aid to those that are getting the runaround or even worse a black hole from their bank.

I'm just glad to give some aid to those that are getting the runaround or even worse a black hole from their bank.

Yep. Wells came out again over the weekend and said their smaller customers should go elsewhere. Again.

 

1 hour ago, Eastwood said:

Independent contractors weren't eligible for the PPP loan until Friday, just in time for most lenders to close their application process. I'm now on the outside looking in. My bank's website reminds me that there are plenty of other banks offering the loan, which feels like a slap in the face because none of them are lending to people who don't have a business account with them. Waiting to hear back on when they'll open the application process back up, but it's starting to look like the path of least resistance is finding a bank that is still taking applications and just switch over to them.

That’s what I plan to do as well.  I started the process several days before it was even open for independent contractors and my bank -one of the big multinationals- told me they were already capped or weren’t going to offer depending on who you asked (because I could never seemingly get past the first step of talking to anything more than a teller).  I talked to several other banks and they were only offering to current banking customers.

Finally found a good local one late last week which said they would help me with the process. I’ve already told them if it goes through I plan to move all my accounts over with them same day.  

You're gonna get a sweet golf ball mark repair tool with his bank's name on it.

Might be able to swing a Yeti tumbler.
16 minutes ago, Lat22 said:


Might be able to swing a Yeti tumbler.

You talking crazy now.  Yeti tumblers are reserved from Platinum Circle level only. 

Maybe a Yeti bottle opener (hand held; wall-mount maybe but with no attachment screws, of course).

Shit, we get Yeti coolers bitches.

How long did it take to get an update on the PPP application?  I submitted through Lendio/Community Bank on 4/8 for the non-profit where I am the treasurer on the Executive board.

  • Author

With MaclovioBrown?  Applied on Friday.  Two hours later I had loan approval and SBA guarantee.  Loan is funding today.

With PNC?  Deep dark black hole of zero communication.  Guess who's earned my business?

1 hour ago, G650 said:

Shit, we get Yeti coolers bitches.

nice humblebrag, baller.

  • Author

I think I'm nearing 30 referrals.  Platinum status bitches.

Edited by VABuckeye

16 hours ago, VABuckeye said:

With MaclovioBrown?  Applied on Friday.  Two hours later I had loan approval and SBA guarantee.  Loan is funding today.

With PNC?  Deep dark black hole of zero communication.  Guess who's earned my business?

Who is his bank?  I sent him a message.  I'm with Chase and it's like peeing in the wind.

  • Author

He's the president of a little bank in south Texas.  I'd prefer not to put the bank info here.  Send me an email at bill@ccillcva.com and I'll give you his contact info.

He's the president of a little bank in south Texas.  I'd prefer not to put the bank info here.  Send me an email at bill@ccillcva.com and I'll give you his contact info.

Bill Roberts?

(Not doxxing, movie quote)
18 minutes ago, bluto said:


Bill Roberts?

(Not doxxing, movie quote)

 

11 minutes ago, Lat22 said:

Not that motherscratcher.

 

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I also went through MaclovioBrown after working with Chase. Got a SBA loan number on Saturday. Scheduled to fund this week.

Funny Chase story about this. I've been pestering my Chase Rep for weeks about the PPP. Never any answer, but "wait". On Friday, called her again & got similar response. Then an hour later I received an email from a Chase Rep in California stating that they will get with me soon & you'll need this paperwork & that. Get a call about 30 min later from a different Chase Rep in California. Goes through his spiel. I'm thinking that now he's taking over. I tell him about the other CA Rep & he says, "Oh, OK, but I guess I'll take care of you, now". So, I'm OK with that. Then I tell him that I already have applied and received a 05TX#. He says, "You already applied?". He had no idea.  I DM'd MaclovioBrown soon after

  • Author

Send him a PM.  I think he's swamped ATM but for Surly people he may make an exception.  He asked me to turn off the referral firehose that I had pointed at him.

  • Author

The SBA pulled my credit today.  I received a notice from Experian.  I presume this means that they'll be funding the grant sometime soon and that I'll be getting underwritten for an EIDL loan.

UFCU told me I should be getting my PPP loan in later this afternoon. 

11 minutes ago, BayouBill said:

UFCU told me I should be getting my PPP loan in later this afternoon. 

Meant to post Friday, but received my loan documents at 4:00 via DocuSign.  Had funding in the account 45 minutes later.

Wow, thank you guys for your interest and, more importantly, patience as we try and ramp up our capacity. At this point I want to pause and work on getting those with approvals through our funding process. This will give the phase 2 (IC and Self Employ) guidance time to season. Believe me, it’s frustrating for both sides. Will update when we’re ready to open the spigot again. 
 

PS: I was called a racist by a person I have only traded a couple of emails with.  That was my sign to pump the brakes. 

11 minutes ago, MaclovioBrown said:

PS: I was called a racist by a person I have only traded a couple of emails with.  That was my sign to pump the brakes. 

Someone always has to fuck it up.

The local bank I'm using flat out told me it won't be for a few more weeks because they're prioritizing the businesses they have loans with first. Well why the hell did the Fed make all of these banks so liquid in the first place?

  • Author
15 minutes ago, MaclovioBrown said:

Wow, thank you guys for your interest and, more importantly, patience as we try and ramp up our capacity. At this point I want to pause and work on getting those with approvals through our funding process. This will give the phase 2 (IC and Self Employ) guidance time to season. Believe me, it’s frustrating for both sides. Will update when we’re ready to open the spigot again. 
 

PS: I was called a racist by a person I have only traded a couple of emails with.  That was my sign to pump the brakes. 

Jesus.  I sincerely hope that it wasn't someone I referred.  You've been fantastic to deal with.  Just let me know when you're ready again.  

Wow, thank you guys for your interest and, more importantly, patience as we try and ramp up our capacity. At this point I want to pause and work on getting those with approvals through our funding process. This will give the phase 2 (IC and Self Employ) guidance time to season. Believe me, it’s frustrating for both sides. Will update when we’re ready to open the spigot again. 
 
PS: I was called a racist by a person I have only traded a couple of emails with.  That was my sign to pump the brakes. 

Ok, who sent Rocko to him?
10 minutes ago, T’Boo Ted Marshall said:


Ok, who sent Rocko to him?

I think you meant the CR crew

Got our funds. This turned from "oh shit what are we going to do" to "Brewster's Millions".

Anyone want to give guidance if Waste Removal is a utility? 

Just wanted to plug my buddy at Turf N Surf again. He will be open for pick-up orders at Lavaca street only tomorrow from 4:30-8:30.

This will be his only spot and hours for now. His grub is outstanding. Blackened ribeye tacos and crazy good fish and other Cajun goodies. His Yelp speaks for itself.

\m/

Anyone know of anyone else able to process these PPP loans these days? Wells Fargo is terrible. 

17 hours ago, VABuckeye said:

Jesus.  I sincerely hope that it wasn't someone I referred.  You've been fantastic to deal with.  Just let me know when you're ready again.  

I promise it wasn't me.

18 hours ago, MaclovioBrown said:

Wow, thank you guys for your interest and, more importantly, patience as we try and ramp up our capacity. At this point I want to pause and work on getting those with approvals through our funding process. This will give the phase 2 (IC and Self Employ) guidance time to season. Believe me, it’s frustrating for both sides. Will update when we’re ready to open the spigot again. 
 

PS: I was called a racist by a person I have only traded a couple of emails with.  That was my sign to pump the brakes. 

Which cloak roomer was it?

https://www.cnbc.com/2020/04/15/small-business-rescue-loans-top-296-billion-rapidly-nearing-the-programs-funding-limit.html

Welp, so much for that. Big shout out to RBFCU for closing me out of the process before I could even apply. You lost my business for that when we get on the other side of this. A sincere thank you to those in here who pointed me in directions that could possibly help.

Edited by Eastwood

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