Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

[Deutsche Gopher Fan]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The message 3M released today was concise and very helpful, unlike anything our fed gov can release

[Rover]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

This makes no sense. If I borrowed from a bank 5 years ago to grow my business, and I've been making my monthly payments on time, then that bank has no more insight into my current financial position than any other. They wouldn't know if I've taken out other loans, if I've grown my profits 100-fold, if I'm sitting on piles of cash, what my backlog looks like, etc. They knew a snapshot 5 years ago, when I originally applied for the loan, but since then I haven't been sending them monthly financial statements - I've just been sending them checks.

Try re-financing your house with your current lender. When they ask for your current financial info, just tell them, "Nah Bro, we're good - I already have a loan with you!"

This is a somewhat absurd take on things. First I would hope a bank that lent you money has taken the time to maintain a relationship with you and has checked in more recently than 5 years prior. Next, you seem to be arguing that it makes no difference if a lender knows who you are already and what business you are in and the size of the business, vs cold calling a random bank who's never heard of you and didn't even know you were a small business operator, let alone what kind of business you're running?

I've refinanced regularly as rates have continued to go down, and I always go through the same mortgage broker. He knows who I am, knows where I live, and knows the property values in my town. Of course I still have to supply him with updated tax statements and somebody has to inspect the house, but its a lot smoother process going through people I know than cold calling a lender who didn't know I existed until they picked up the phone.

[dxmnkd316]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The message 3M released today was concise and very helpful, unlike anything our fed gov can release

Because 3M has the receipts.

[Handyman]

Because 3M has the receipts.

And people in charge with functioning brains

[Handyman]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

JUST IN: Bank executives sought guidance on small business loan program from Ivanka Trump: report https://t.co/fzukId8dMe pic.twitter.com/i9GGalL9y6

— The Hill (@thehill) April 3, 2020

[MinnesotaNorthStar]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

JUST IN: Bank executives sought guidance on small business loan program from Ivanka Trump: report https://t.co/fzukId8dMe pic.twitter.com/i9GGalL9y6

— The Hill (@thehill) April 3, 2020

WHY? They could have called mookie and gotten better advice...

[mookie1995]

WHY? They could have called mookie and gotten better advice...

[rufus]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

"Daddy wants you to do this............"

[Slap Shot]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Rover I believe the issue is they are denying apps from people that are already customers.

[Rover]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Rover I believe the issue is they are denying apps from people that are already customers.

I know, and just to reiterate I suspect they're handling the business loan customers first as they know more about their business and therefore it'll be easier to get them processed, as opposed to if you merely own a checking account or credit card. Not sure where all the bad blood is coming from on this thread from some usually normal posters but I'm assuming they'll clear the easy ones first and then go after the rest of the existing customers.

[unofan]

Not sure where all the bad blood is coming from on this thread

Because the rest of us aren't shills for Big Finance?

[mookie1995]

I know, and just to reiterate I suspect they're handling the business loan customers first as they know more about their business and therefore it'll be easier to get them processed, as opposed to if you merely own a checking account or credit card. Not sure where all the bad blood is coming from on this thread from some usually normal posters but I'm assuming they'll clear the easy ones first and then go after the rest of the existing customers.

How does any of this jibe with “doesn’t qualify”, which was the response shown?

[rufus]

I know, and just to reiterate I suspect they're handling the business loan customers first as they know more about their business and therefore it'll be easier to get them processed, as opposed to if you merely own a checking account or credit card. Not sure where all the bad blood is coming from on this thread from some usually normal posters but I'm assuming they'll clear the easy ones first and then go after the rest of the existing customers.

No, they're handling the people that owe them money first to make sure those people will be around to pay them back.

[Rover]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

How does any of this jibe with “doesn’t qualify”, which was the response shown?

They don't qualify with that particular bank which is putting through a certain segment of customers right now. Not that they don't qualify at all. As Hovey posted you need not go through them to get a govt loan.

No, they're handling the people that owe them money first to make sure those people will be around to pay them back.

One theory is as good as another although this would be more plausible if they were attaching a criteria based on the size of the outstanding loan amount....

Beyond all this though, you people are way too hyped up. Not sure if you're worried about your health or your job or if you normally just can't handle stress, but there's a solution. You need to get in touch with the state of mind called Roverism, which is basically a combination of Zen plus Makers Mark. You could of course dabble in mookie-ism, which is Zen plus underage Asian porn, but I will note that bourbon is legal at least....

[mookie1995]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Saudi pif bought an 8.2% stake in carnival cruise lines