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by tardo99
2248 days ago
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I've been told by some well-placed people (pooh pooh me if you want, I don't care), that a number of PE shops and hedge funds were able to get some pretty big loans to the top of the pile. Many, many, many businesses are in your situation. A very large percentage of the money went places you and I probably wouldn't think it "should" go. The program isn't working. |
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1) a private university near me with multiple thousand students, and nearly 1,000 employees (faculty and the like) "tweaking" their payroll numbers to exclude adjuncts, TAs, student employees and such, so they could claim they were a "small business"
2) a startup who closed a $25M round of funding in March, has no product/revenue as yet, and works 100% remote, talks of having a 14 month runway, got a fairly large check "because they're offering money, we should take it" (regardless of need)