Anonymous
Anonymous asked in Business & FinanceOther - Business & Finance · 1 month ago

Is there a way to get grant money or a loan to HIRE people?

We are a floor care company. We refinish wood, clean tile and grout, wax vinyl, diamond pad burnish terrazzo, stone and cement, steam carpet. We maintain and service all flooring. Before the retail melt down of 2016-2017 I had three crews of 2-3 workers on 5-7 nights per week. Commercial space was about 85 percent of my business. During the daytime we cleaned residential space. I have a $5,000 carpet extractor that stays in the van. It takes two cords. I have a dual cord vacuum booster and a dual cord 3200 watt heat. All in, with the generator to power it, I'm at about $8,500 for my most expensive piece of equipment. I has run less than 100 hours in 2020.

Cash is really tight. Keeping people on to do nothing was not a loan I needed. I was down to three workers last fall. Let one go in late September and another in mid January, well before COVID 19. The one I didn't lay off has worked sporadically since March, maybe 25 hours. He still works maybe 5 hours every other week. They dock his unemployment for that. Its like he works for next to nothing right now.

If a hotel called and said we need 80 rooms cleaned, plus the halls, I don't have the staff. I can't make them wait 90 days to get paid. I am lucky to get Net 30. If they pre-pay jobs, they actually get a huge discount. That works except that leaves very little for me.

I may never recover because I don't have any cash left to pay workers. People were very tight on money before.

Update:

 I had a $400 job call this AM and ask if I would do it for $160? That is pointless, but that is what is happening. Customers ask for prices I couldn't possibly meet. They want to play how low can you go, and play it hard.

Update 2:

Perfect time to clean. When they are busy, they make me do a few rooms every day. Often spread it out over a week. I actually did two hotels during COVID lock down. Smaller places. Like 15 rooms per day for 2-3 days.

4 Answers

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  • Eva
    Lv 7
    1 month ago

    The PPP loan extension has been approved by the House and Senate and is awaiting Trump's signature. If it's signed, the loan application process should open back up sometime next week. See if your bank participates. If it doesn't, check on the SBA website for other lenders. It could see you through to the end of the year and give you some breathing room. Alternatively there's a payroll tax credit you may qualify for if your business is down 50% or more from last year. It's called the Employee Retention Credit.  Talk to your payroll company or accountant about this. You can access more information in a easy-to-read format on NFIB.com.

  • 1 month ago

    You are a horrible business person.

    -these are your EMPLOYEES they are NOT INDEPENDENT CONTRACTORS.... you don't make them wait 90 days to get paid... you pay them during the standard pay period. Your employee doesn't work for nothing right now, he works for the ability to keep his job. 

    " I had a $400 job call this AM and ask if I would do it for $160?"

    You don't have to do it for $160.  Maybe thy were expecting you to counter to $250 and now they are laughing on what they go on you.Why are you waiting around for people to call you?

    There was grant money to hire people but it's over now. 

  • Anonymous
    1 month ago

    No ,you can advertise your  help wanted ads for free.

  • 1 month ago

    Well they aren’t giving business loans right now.Also I do not think the 80 room things is realistic because a lot of hotels aren’t busy at all or are closed.if i was you I would just do it yourself and keep the one you have.u have nothing to worry about because people aren’t spending anything or going on vacations or out so that more than likely won’t happen.also people are being very tight with money.and if they are giving you $160 for a $400 it’s not worth it.I will just find another job on the side to make money.instead of getting a loan to hire people.u hire people when business is booming not when people giving crappy offers.

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