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MIKE O'MEARA / TMOS MISUSE PPP FUNDS?
Posted by: LoudounLarry ()
Date: August 08, 2022 02:45PM

"CAT" CENSORSHIP OF THESE THREADS IS NOT GOING TO MAKE THIS BLOCKBUSTER STORY GO AWAY

Source: U.S. Small Business Administration (SBA)

On, May 1, 2020 Michael S. O'Meara, Inc received 28,622.00 in SBA Payroll Protection Program funds thru Bank of America. That loan was fully forgiven on February 25, 2021

On that same day, February 25, 2021. Michael S. O'Meara, Inc received via Bank of America, a second round of PPP funds for 38,813.00.

THIS TIME, ACCORDING TO HIS RANT ON A RECENT EPISODE OF TMOS AND THE SBA WEBSITE, THE SBA VIA BANK OF AMERICA, HAS AUDITED HIS APPLICATION AND REJECTED O'MEARA'S REQUEST TO HAVE ROUND 2 FUNDS FORGIVEN AND MUST BE FULLY REPAID BACK OVER 60 MONTHS + SMALL INTEREST RATE.

WHY?

Second Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:

Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan,

The loan proceeds are spent on payroll costs and other eligible expenses,

and

At least 60% of the proceeds are spent on payroll costs

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Re: MIKE O'MEARA / TMOS MISUSE PPP FUNDS?
Posted by: coloradobartstarr ()
Date: August 09, 2022 11:51AM

One of the most attractive aspects of the Paycheck Protection Program loans that were included in the 2020 Coronavirus Aid, Relief and Economic Security Act (CARES Act) was an employer’s ability to apply to have its loan forgiven at the end of the term.

Except, as I read, Michael S. O'Meara Inc aka TMOS

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Re: MIKE O'MEARA / TMOS MISUSE PPP FUNDS?
Posted by: GoodHumorMan ()
Date: August 09, 2022 03:58PM

According to Mike, its the governments fault; big government.

Not the fact that according to the SBA, Mike misspent the funds and is not eligible for a loan forgiveness?

GoodHumorMan

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Re: MIKE O'MEARA / TMOS MISUSE PPP FUNDS?
Posted by: GoodHumorMan ()
Date: August 09, 2022 07:17PM












































































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