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Reply to "Stimulus money for soccer clubs? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes clubs have applied and gotten money. Does not mean they are refunding money to all [/quote] Having applied for this as a small business owner myself, if they take the PPP. money and don't refund and/or waive fees, they will have a hard time getting the loan forgiven, and could actually be in some trouble. You have to certify that the loan is necessary because of lost income due to the pandemic. Other than clubs whose finances are heavily dependent on profits from Spring tournaments that they had to cancel, I don't see how they could do that if they aren't refunding fees. The general idea is that it's supposed to be a lifeline, not a windfall. [/quote] The PPP is intended to cover payroll not refunds. That isn’t to say that the clubs shouldn’t have more resources to payback refunds especially if their payroll costs are being covered, but it being forgivable only has to do with payroll. [/quote]
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