How is Everyone Making out the SBA PPP financing?

[anonymous]

I think I made it under the wire, but now hear they are out of money. Anyone see their application result in a deposit yet?

 

[anonymous]

You're not alone. A number of Reps I work with are also waiting with fingers crossed. Others just plan to take the ZB loan. Personally, I have zero interest in that.

 

[anonymous]

Yep! Money in our account!

 

[anonymous]

Yep! Money in our account!

Good for you. It's a mixed bag around here. Some have, others haven't heard yet. Sucks that all our major competitors did the right thing and invested in securing their sales forces.

 

[anonymous]

Good for you. It's a mixed bag around here. Some have, others haven't heard yet. Sucks that all our major competitors did the right thing and invested in securing their sales forces.

which companies did what to “secure” the 1099 sales teams? I can’t understand how maybe 2 periods of little sales can screw people over so bad. Does nobody save any money? We make TONS of cash, why would most of us need any help to get by 2 months anyways? If your hurting for a “loan” so bad you better re think what the hell your doing with all your money anyways.

 

[anonymous]

which companies did what to “secure” the 1099 sales teams? I can’t understand how maybe 2 periods of little sales can screw people over so bad. Does nobody save any money? We make TONS of cash, why would most of us need any help to get by 2 months anyways? If your hurting for a “loan” so bad you better re think what the hell your doing with all your money anyways.

Greedy people clamoring for free money who don’t (or shouldn’t, to your point) need it, while so many do.

 

[anonymous]

which companies did what to “secure” the 1099 sales teams? I can’t understand how maybe 2 periods of little sales can screw people over so bad. Does nobody save any money? We make TONS of cash, why would most of us need any help to get by 2 months anyways? If your hurting for a “loan” so bad you better re think what the hell your doing with all your money anyways.

I'm not sure what you say is fair.

The companies that secured their Reps include S&N, Stryker and Depuy.

I'm also not sure we can count on this pandemic winding own in 2 pay periods. Everything I read about in our region is that it will persist on some form for months to come with a certain impact on elective surgeries.

It sounds as though you are in solid shape financially, as am I. However, I do know we have a number of younger Reps who are just getting their careers underway and they are hurting. Not fair to judge how they spend their money.

Finally, this all begs the question: why do our competitors value their Reps more than ZB does us?

 

[anonymous]

I'm not sure what you say is fair.

The companies that secured their Reps include S&N, Stryker and Depuy.

I'm also not sure we can count on this pandemic winding own in 2 pay periods. Everything I read about in our region is that it will persist on some form for months to come with a certain impact on elective surgeries.

It sounds as though you are in solid shape financially, as am I. However, I do know we have a number of younger Reps who are just getting their careers underway and they are hurting. Not fair to judge how they spend their money.

Finally, this all begs the question: why do our competitors value their Reps more than ZB does us?

smith nephew 1099 here. Last we were told was apply for SBA loan. Still waiting for SN to step up FYI

 

[anonymous]

smith nephew 1099 here. Last we were told was apply for SBA loan. Still waiting for SN to step up FYI

interesting how things are diff across the country. the sn reps in our area are all getting a percentage as a guarantee.

 

[anonymous]

interesting how things are diff across the country. the sn reps in our area are all getting a percentage as a guarantee.

1099’s aren’t. W2’s get that.

 

[anonymous]

In a related question, has anyone heard anything about the availability of the ZB LOC?

 

[anonymous]

I'm not sure what you say is fair.

The companies that secured their Reps include S&N, Stryker and Depuy.

Finally, this all begs the question: why do our competitors value their Reps more than ZB does us?

S&N and Stryker are also loading up on inventory so they're ready for their Reps to dominate the market when the quarantines lift. ZB doing the exact opposite. They're reducing inventory, pushing out deliveries, and putting new project launches on ice. Got to maintain that cash for future stock buybacks!!

 

[anonymous]

S&N and Stryker are also loading up on inventory so they're ready for their Reps to dominate the market when the quarantines lift. ZB doing the exact opposite. They're reducing inventory, pushing out deliveries, and putting new project launches on ice. Got to maintain that cash for future stock buybacks!!

electives resume may 4th for a few of us. Depending where you live only a few weeks of no electives. Smaller hospitals are taking huge hits all across the country. Empty facilities everywhere. Lots of them are getting the green light to resume electives starting may.

 

[anonymous]

Curious if anyone has gone through the "forgiveness" process and, if so, how did you make out?

 

[anonymous]

I am under the impression the banks haven't generally opened up for processing the forgiveness paperwork.

 

[anonymous]

Any updates from anyone?

 

[anonymous]

Yeah, I’m rock hard

 

[anonymous]

I got my forgiveness application submitted, but it's discouraging to hear that the SBA hasn't signed off on any of the ones currently in their system. Bureaucracy at its best.