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  1. #1
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    PPP-Question

    Were alternative finance companies prohibited from applying and receiving PPP?
    Hedley Lamarr......That's Hedley

  2. #2
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    Quote Originally Posted by Kevin Henry-Seacoast View Post
    Were alternative finance companies prohibited from applying and receiving PPP?
    From my understanding they were prohibited -
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  3. #3
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    How the hell did one get upwards of $300K????? It was also under the wrong SIC Code.
    Hedley Lamarr......That's Hedley

  4. #4
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
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    I'm pretty sure they were originally prohibited. Factoring companies were on the restricted list by name. But then companies on this list started suing and the courts were ruling the restricted list was unconstitutional. I don't know how binding that was. There are ones that got more than $1 million in PPP.

  5. #5
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    Sean,

    I have seen several finance companies in the PPP list that received funds listed under the wrong SIC code. Some are sole props.

    KH
    Hedley Lamarr......That's Hedley

  6. #6
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    it seems like they went by sic more than what they actually do.
    Happening in new york red zone now, they dont care what the store sells just by what their sic is

  7. #7
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    Quote Originally Posted by Michael I View Post
    it seems like they went by sic more than what they actually do.
    Happening in new york red zone now, they dont care what the store sells just by what their sic is
    One certain SIC code have PPP funding for companies that were sole props and now where close to the industry.
    Hedley Lamarr......That's Hedley

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