Also, Terry got a PPP loan for $20k for his one person soybean farm. Seems legit.
Well it could be totally legit. Single person farms still pay people, even if themselves, and $20k isn't that much. Besides payroll, they can be used for owner compensation, mortgage interest for business related loans, business rental payments, business utility payments, and continuing employee benefits.
For farmers, the PPP maximum loan amount is 2.5 times the amount of the average monthly payroll costs from the prior 12 months or the 2020 / 2019 calendar year, capped at $10 million.
I have to wonder how do you even know he has a PPP loan. I search his name and "PPP" and the only hits I get are federal government information sites. The Forbes article doesn't had the word "loan" or "ppp" or "soybean" so where are you getting this info from?
I thought the OP article was likely a rehash of an older article so googled his name.
The Forbes article and the PPP loan results were right next to each other. I read them both and thought the guy was pretty sketchy all in all.
As for stirring up controversy, this entire topic is controversial. It’s a post designed to trigger privacy rights people, and doing quite well by the looks of it.
Comments
Forbes had a better write up back in April when this story made the rounds: https://www.forbes.com/sites/instituteforjustice/2020/04/14/...
Also, Terry got a PPP loan for $20k for his one person soybean farm. Seems legit.
Well it could be totally legit. Single person farms still pay people, even if themselves, and $20k isn't that much. Besides payroll, they can be used for owner compensation, mortgage interest for business related loans, business rental payments, business utility payments, and continuing employee benefits.
For farmers, the PPP maximum loan amount is 2.5 times the amount of the average monthly payroll costs from the prior 12 months or the 2020 / 2019 calendar year, capped at $10 million.
See https://farms.extension.wisc.edu/ppp-and-eidl-loans-advances...
I have to wonder how do you even know he has a PPP loan. I search his name and "PPP" and the only hits I get are federal government information sites. The Forbes article doesn't had the word "loan" or "ppp" or "soybean" so where are you getting this info from?
You can find info on his loan at https://www.federalpay.org/paycheck-protection-program/terry...
Are you trying to just stir up controversy with that comment? It's almost like you're troll farm driven.
I thought the OP article was likely a rehash of an older article so googled his name.
The Forbes article and the PPP loan results were right next to each other. I read them both and thought the guy was pretty sketchy all in all.
As for stirring up controversy, this entire topic is controversial. It’s a post designed to trigger privacy rights people, and doing quite well by the looks of it.