Community Chat

[Nakito]

Juniors CEO, Alan Rosen, just received his $2 million small business loan from the government and does not plan on paying his furloughed employees until they return back to work. This loan does not need to be paid back.  His employees need the money now for rent, bills and food.  Will you continue to patronize this business?.   

[esmerelda]

This is a duplicate thread. You should read responses to your first one. 

Learn about how furloughed workers are paid. (Hint...they're not.)

[ValuSkr]

There's another thread about this under Today's Special Value.

[Shelbelle]

I would assume they are able to get Unemployment. 

[sunshine45]

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@Nakito wrote:

Juniors CEO, Alan Rosen, just received his $2 million small business loan from the government and does not plan on paying his furloughed employees until they return back to work. This loan does not need to be paid back.  His employees need the money now for rent, bills and food.  Will you continue to patronize this business?.   

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unfortunately, not all small businesses are able to keep all employees on hand at this time. surely not many small businesses can afford to pay those who are furloughed. i cannot fault them for that, nor can i fault any other small business.

not all of the loans or grants were supposed to be PPP money (paycheck protection program.)

some are using the loans for debts, taxes, rent, lost revenue, loss of product, paying owners, insurance, etc.....

[depglass]

This entire program has loopholes large enough to drive a huge fraud truck through.

[lovescats]

why shouldn't people know this.   It is taxpayers money and it was rushed  to them to keep the businesses open wasn't it? and it is 5.5 million not 2 million

Junior’s Cheesecake owner Alan Rosen said Tuesday that the money the restaurant company has received through the Treasury Department’s small business loan program is not enough to immediately bring workers off furlough.

There is too much uncertainty about when the coronavirus pandemic will subside and when people will be comfortable to “sit shoulder to shoulder in our restaurants” again, Rosen said on CNBC’s “Power Lunch.”

“Until that time it would be, in my opinion, wasted money to start spending it. We have to wait until we have a very clear

Junior’s has so far received $1.4 million, Rosen said, and is “probably about a day away” from receiving the remaining loans, which will bring it to a total of $5.5 million. 

[proudlyfromNJ]

They will collect unemployment.i have been furloughed and that’s what happens.

[CrazyDaisy]

The PPP program is to cover payroll expenses when business resumes. If the employees are laid off they are covered under the State Unemployment dept.  You do need to prove that this money was used for payroll expenses once operations resume in order for it to become a Grant.  There are many other low interest loans being offered for small businesses.