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The truth about work at home, affiliate, survey and internet marketing programs
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Making Extra Money Affiliates No Scams Free Info Work At Home Easy Money Programs How To Earn Money
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Companies connected to Trump received large taxpayer-funded forgivable loans: A list
submitted by rusticgorilla to Keep_Track [link] [comments]
Yesterday, the Small Business Administration and Treasury Department disclosed the recipients of 660,000 Paycheck Protection Program loans. The list only includes those who received at least $150,000 in funding, which is less than 15 percent of the total number of loans. The administration originally tried to hide
Recipients do not
have to repay the loan if they keep (or re-hire to meet) their pre-COVID-19 levels of employment and compensation and spend the funds on approved expenses. Explore the list yourself:
The Washington Post turned the original spreadsheet into an online searchable database
. This post is about the relevant “highlights” from the list. Some of the connections to politicians are stronger than others. However, the point isn't so much that certain politicians are unethically profiting - the point is that the American people deserve to know where their money is going. Especially when so many "average" Americans are struggling. In other words, draw your own conclusions from the data.
Connections to Trump & family A New York shipping business (Foremost Group) owned by the family of Transportation Secretary Elaine Chao, the wife of the Senate majority leader, Mitch McConnell, received at least $350,000. “Ms. Chao has no formal affiliation or stake in the business, but she and Mr. McConnell have received millions of dollars in gifts from her father, James, who ran the company until 2018.”
Kasowitz Benson Torres, founded and run by Trump’s longtime personal lawyer, Marc E. Kasowitz, received a loan for between $5 million and $10 million. Mr. Kasowitz and the firm represented Trump during Mueller’s investigation and for decades before Trump was elected president.
The American Center for Law and Justice, whose chief counsel is Trump lawyer Jay Sekulow, got between $1 million and $2 million. Sekulow also defended Trump during the Mueller investigation and impeachment proceedings.
Jared Kushner connections:
In April, a bank approved a loan of between $150,000 and $350,000 for the Pennsylvania dental practice of Albert Hazzouri, who golfs with Trump and frequents Mar-a-Lago. In 2017, Hazzouri used his access to the president to pass him a policy proposal on club stationery on behalf of the American Dental Association. He addressed the note to Trump “Dear King.”
- Esplanade Livingston, a Kushner family entity that owns the land in Livingston, N.J., where the family’s Westminster Hotel is, got between $350,000 and $1 million. Esplanade Livingston’s company address is the same as that of the Kushner Companies real estate development business.
- Princeton Forrestal, a real estate entity owned by various members of the Kushner family not including Mr. Kushner, received a loan of between $1 million and $2 million. It is at least 40 percent owned by Kushner family members.
- The New York Observer, the news website that Kushner ran before entering the White House and is still owned by Kunsher’s brother-in-law’s investment firm, was approved for between $350,000 and $1 million
- In addition, up to $2 million was approved for the Joseph Kushner Hebrew Academy, a nonprofit religious school in Livingston, N.J., that’s named for Jared Kushner’s grandfather and supported by the family.
A firm that raises money for Trump’s re-election campaign and the Republican National Committee received a loan of more than $1 million, according to the data set, while a company that produces Trump’s political advertisements received between $350,000 and $1 million.
Billionaire property developer Joe Farrell, a prominent Republican fundraiser, received up to $1 million in taxpayer coronavirus relief funds. Farrell, a developer in New York's exclusive Hamptons beachfront community, has thrown fundraising parties for Trump… Farrell this year rented out his 17,000-square-foot, $40 million East End estate, Sandcastle, for close to $2 million to a wealthy Manhattan family trying to escape the coronavirus for six months.
- The New York Times does not identify these companies by name. I tried to figure out which companies they were referring to but could not be sure. We already knew that Phunware, a Trump re-election campaign data collector, received $2.85 million — nearly 14 times the PPP average of $206,000 (reported in April).
Dozens of tenants at buildings owned by Trump or managed by his companies received funds… More than 20 businesses listed at 40 Wall Street, an office building that Trump has owned since the mid-1990s, also reportedly received government loans totaling at least $20 million. Among the recipients were law offices, financial service firms and nonprofit organizations.
Sushi Nakazawa, a restaurant at the Trump International Hotel in Washington, received a loan of between $150,000 and $350,000.
Churches connected to President Donald Trump and other organizations linked to current or former Trump evangelical advisers received at least $17.3 million in loans… City of Destiny, the Florida church that Trump’s personal pastor and White House faith adviser Paula White-Cain calls home, got between $150,000 and $350,000. First Baptist Dallas, led by Trump ally and senior pastor Robert Jeffress got between $2 million and $5 million. Other loan recipients included several churches and organizations connected to allies who joined Trump’s evangelical advisory board during his 2016 campaign.
A company with a name matching one listed on the 2017 financial disclosure of Education Secretary Betsy DeVos received at least $6 million.
Perdue Inc., a Bonaire, Georgia-based trucking company founded by Agriculture Secretary Sonny Perdue, received a PPP loan of between $150,000 and $350,000. An Agriculture Department spokesperson said the company is owned indirectly by a trust of which the secretary’s adult children are 99% stakeholders.
American Media, the publisher of the National Enquirer, received a loan in April from Bank of America Corp. of between $2 million and $5 million, records show. American Media is run by Trump’s longtime friend David Pecker. Furthermore, American Media is owned by Chatham Asset Management, a New Jersey-based hedge fund that oversees about $4 billion.
Cottage Hospital, a 25-bed critical access facility in Woodsville, New Hampshire, received between $2 million and $5 million in PPP loans. The hospital’s CEO, Maria Ryan, is a longtime close associate of Rudy Giuliani’s. Ryan currently co-hosts a talk radio show with Giuliani called “Uncovering the Truth.” Cottage Hospital’s annual revenues typically exceed $30 million, according to its most recent publicly available federal tax return. Ryan’s salary, the last filing shows, is nearly $300,000.
Congress and other political connections Wineries partly owned by Rep. Nunes, R-Calif. Nunes listed on his 2018 public financial disclosure forms roles as a limited partner with investments in Phase 2 Cellars in San Luis Obispo, California, and Alpha Omega Winery in Saint Helena, California. The PPP data shows the wineries received loans of $1 million to $2 million.
KTAK Corp., a Tulsa-based operator of fast food franchises owned by Rep. Kevin Hern (R-Okla.), received between $1 million and $2 million. Hern had advocated increasing the size of loans available to franchisees, including in a March letter to Senate leaders Mitch McConnell (R-Ky.) and Charles E. Schumer (D-N.Y.).
Rep. Mike Kelly (R-Pa.) benefited when three of his car dealerships, located outside of Pittsburgh, received a combined total of between $450,000 and $1.05 million. Kelly is a multimillionaire.
Several plumbing businesses affiliated with Rep. Markwayne Mullin (R-Okla.), all based in Broken Arrow, Okla., each received between $350,000 and $1 million.
Rep. Rick Allen’s (R-Ga.) construction company in Augusta received between $350,000 and $1 million
EDI Associates, a company the husband of House Speaker Nancy Pelosi invests in, received between $350,000 and $1 million.
Rep. Nita Lowey’s (D-N.Y.) husband's law firm Lowey Dannenberg P.C. received a loan between $1 million and 2 million. Her husband, Stephen Lowey, is listed as chairman emeritus on the firm's website and is retired from the firm.
Lobbying and policy group Waxman Strategies, which is run by former Rep. Henry Waxman, D-Calif., and his son Michael, which received a loan of $350,000 to $1 million.
Before the release of the data Monday, three members of Congress said they or their spouses had received PPP loans: Rep. Roger Williams, R-Texas; Rep. Vicky Hartzler, R-Mo.; and Rep. Susie Lee, D-Nev.
An affiliate of Americans for Tax Reform, the influential conservative group that has been a vocal critic of government spending, received between $150,000 and $350,000. ATR founder Grover Norquist has criticized the unemployment insurance provision of the CARES Act, which he said “delays recovery,” and signed a letter urging lawmakers not to approve a second stimulus bill.
The Ayn Rand Institute, named for conservative philosopher Ayn Rand, received a loan of between $350,000 and $1 million, which it called “partial restitution for government-inflicted losses."
Citizens Against Government Waste, one of the country’s most prominent anti-government spending organizations and a frequent critic of the CARES Act, took between $150,000 and $350,000 in loans as well.
Other noteworthy recipients More than 5,600 companies in the fossil fuel industry have taken a minimum of $3bn in coronavirus aid from the US federal government. The businesses include oil and gas drillers and coal mine operators, as well as refiners, pipeline companies, and firms that provide services to the industry.
Yeezy, which California business filings show is a holding company registered to Kanye West, received between $2 million and $5 million to support 106 jobs. West is estimated to be worth $1.3 billion.
Washington lobbying shops, high-priced law firms and special-interest groups also received big loans, according to the administration, the latest indication of how the government’s centerpiece effort to shore up mom-and-pop shops set off a race by organizations far afield from Main Street to secure federal money.
More than 100 law firms received loans ranging from $1 million to $10 million, the data showed. The list included well-known names like Boies Schiller Flexner, the high-priced law firm run by David Boies, which received between $5 million and $10 million.
- Wiley Rein, which has a large lobbying practice focusing on trade issues, received between $5 million and $10 million
- Van Ness Feldman and Beveridge & Diamond, two law firms that focus on helping energy industry clients push their agendas in Washington, received loans between $2 million and $5 million
A number of prominent private schools were listed as loan recipients, despite the controversy over whether such institutions should take the money. Some also have political connections in DC.
- In New York City, St. Ann’s School took a loan valued between $5 million and $10 million.
- Kent Place School, a private school in New Jersey, was reported to have received a loan worth between $1 million and $2 million.
- Sidwell Friends, which has educated the children of presidents, received a loan worth between $5 million and $10 million.
- Georgetown Preparatory School, which the Supreme Court justices Brett Kavanaugh and Neil Gorsuch attended, received a loan worth between $2 million and $5 million.
The more you know Fair distribution? There was no apparent link between the amount of economic damage suffered by states and how successful the small businesses in them were at getting the loans from the program. North Dakota, South Dakota, Nebraska, and Kansas all saw loan approvals of at least 90 percent of their eligible small-business payroll, even though they rank among the least-affected states in terms of unemployment claims during the crisis.
Just a small fraction of the bailout. Keep in mind that the Paycheck Protection Program is just one part of the government’s bailout. There are other, bigger, bailout efforts that the federal government is not required to tell us about.
Here are some articles about the bigger business and financial sector bailouts:
- ProPublica: How the Coronavirus Bailout Repeats 2008’s Mistakes: Huge Corporate Payoffs With Little Accountability
- Brookings: What’s the Fed doing in response to the COVID-19 crisis? What more could it do?
- NYT: How the Fed’s Magic Money Machine Will Turn $454 Billion Into $4 Trillion
Letter from a Birmingham Jail
submitted by cstar1996 to moderatepolitics [link] [comments]
With all of the recent discussion of the protests and riots following George Floyd's murder I thought it was worth remembering that this conversation has occurred before. Many objected to the tactics used by the Civil Rights movement with the same arguments and criticism that we hear today. I think they ring as hollow now as they did then. I think we could do well to read MLK's words and reflect on whether we want to be embracing the arguments that were so eloquently criticized here.
My Dear Fellow Clergymen:
While confined here in the Birmingham city jail, I came across your recent statement calling my present activities "unwise and untimely." Seldom do I pause to answer criticism of my work and ideas. If I sought to answer all the criticisms that cross my desk, my secretaries would have little time for anything other than such correspondence in the course of the day, and I would have no time for constructive work. But since I feel that you are men of genuine good will and that your criticisms are sincerely set forth, I want to try to answer your statement in what I hope will be patient and reasonable terms.
I think I should indicate why I am here in Birmingham, since you have been influenced by the view which argues against "outsiders coming in." I have the honor of serving as president of the Southern Christian Leadership Conference, an organization operating in every southern state, with headquarters in Atlanta, Georgia. We have some eighty five affiliated organizations across the South, and one of them is the Alabama Christian Movement for Human Rights. Frequently we share staff, educational and financial resources with our affiliates. Several months ago the affiliate here in Birmingham asked us to be on call to engage in a nonviolent direct action program if such were deemed necessary. We readily consented, and when the hour came we lived up to our promise. So I, along with several members of my staff, am here because I was invited here. I am here because I have organizational ties here.
But more basically, I am in Birmingham because injustice is here. Just as the prophets of the eighth century B.C. left their villages and carried their "thus saith the Lord" far beyond the boundaries of their home towns, and just as the Apostle Paul left his village of Tarsus and carried the gospel of Jesus Christ to the far corners of the Greco Roman world, so am I compelled to carry the gospel of freedom beyond my own home town. Like Paul, I must constantly respond to the Macedonian call for aid.
Moreover, I am cognizant of the interrelatedness of all communities and states. I cannot sit idly by in Atlanta and not be concerned about what happens in Birmingham. Injustice anywhere is a threat to justice everywhere. We are caught in an inescapable network of mutuality, tied in a single garment of destiny. Whatever affects one directly, affects all indirectly. Never again can we afford to live with the narrow, provincial "outside agitator" idea. Anyone who lives inside the United States can never be considered an outsider anywhere within its bounds.
You deplore the demonstrations taking place in Birmingham. But your statement, I am sorry to say, fails to express a similar concern for the conditions that brought about the demonstrations. I am sure that none of you would want to rest content with the superficial kind of social analysis that deals merely with effects and does not grapple with underlying causes. It is unfortunate that demonstrations are taking place in Birmingham, but it is even more unfortunate that the city's white power structure left the Negro community with no alternative.
In any nonviolent campaign there are four basic steps: collection of the facts to determine whether injustices exist; negotiation; self purification; and direct action. We have gone through all these steps in Birmingham. There can be no gainsaying the fact that racial injustice engulfs this community. Birmingham is probably the most thoroughly segregated city in the United States. Its ugly record of brutality is widely known. Negroes have experienced grossly unjust treatment in the courts. There have been more unsolved bombings of Negro homes and churches in Birmingham than in any other city in the nation. These are the hard, brutal facts of the case. On the basis of these conditions, Negro leaders sought to negotiate with the city fathers. But the latter consistently refused to engage in good faith negotiation.
Then, last September, came the opportunity to talk with leaders of Birmingham's economic community. In the course of the negotiations, certain promises were made by the merchants--for example, to remove the stores' humiliating racial signs. On the basis of these promises, the Reverend Fred Shuttlesworth and the leaders of the Alabama Christian Movement for Human Rights agreed to a moratorium on all demonstrations. As the weeks and months went by, we realized that we were the victims of a broken promise. A few signs, briefly removed, returned; the others remained. As in so many past experiences, our hopes had been blasted, and the shadow of deep disappointment settled upon us. We had no alternative except to prepare for direct action, whereby we would present our very bodies as a means of laying our case before the conscience of the local and the national community. Mindful of the difficulties involved, we decided to undertake a process of self purification. We began a series of workshops on nonviolence, and we repeatedly asked ourselves: "Are you able to accept blows without retaliating?" "Are you able to endure the ordeal of jail?" We decided to schedule our direct action program for the Easter season, realizing that except for Christmas, this is the main shopping period of the year. Knowing that a strong economic-withdrawal program would be the by product of direct action, we felt that this would be the best time to bring pressure to bear on the merchants for the needed change.
Then it occurred to us that Birmingham's mayoral election was coming up in March, and we speedily decided to postpone action until after election day. When we discovered that the Commissioner of Public Safety, Eugene "Bull" Connor, had piled up enough votes to be in the run off, we decided again to postpone action until the day after the run off so that the demonstrations could not be used to cloud the issues. Like many others, we waited to see Mr. Connor defeated, and to this end we endured postponement after postponement. Having aided in this community need, we felt that our direct action program could be delayed no longer.
You may well ask: "Why direct action? Why sit ins, marches and so forth? Isn't negotiation a better path?" You are quite right in calling for negotiation. Indeed, this is the very purpose of direct action. Nonviolent direct action seeks to create such a crisis and foster such a tension that a community which has constantly refused to negotiate is forced to confront the issue. It seeks so to dramatize the issue that it can no longer be ignored. My citing the creation of tension as part of the work of the nonviolent resister may sound rather shocking. But I must confess that I am not afraid of the word "tension." I have earnestly opposed violent tension, but there is a type of constructive, nonviolent tension which is necessary for growth. Just as Socrates felt that it was necessary to create a tension in the mind so that individuals could rise from the bondage of myths and half truths to the unfettered realm of creative analysis and objective appraisal, so must we see the need for nonviolent gadflies to create the kind of tension in society that will help men rise from the dark depths of prejudice and racism to the majestic heights of understanding and brotherhood. The purpose of our direct action program is to create a situation so crisis packed that it will inevitably open the door to negotiation. I therefore concur with you in your call for negotiation. Too long has our beloved Southland been bogged down in a tragic effort to live in monologue rather than dialogue.
One of the basic points in your statement is that the action that I and my associates have taken in Birmingham is untimely. Some have asked: "Why didn't you give the new city administration time to act?" The only answer that I can give to this query is that the new Birmingham administration must be prodded about as much as the outgoing one, before it will act. We are sadly mistaken if we feel that the election of Albert Boutwell as mayor will bring the millennium to Birmingham. While Mr. Boutwell is a much more gentle person than Mr. Connor, they are both segregationists, dedicated to maintenance of the status quo. I have hope that Mr. Boutwell will be reasonable enough to see the futility of massive resistance to desegregation. But he will not see this without pressure from devotees of civil rights. My friends, I must say to you that we have not made a single gain in civil rights without determined legal and nonviolent pressure. Lamentably, it is an historical fact that privileged groups seldom give up their privileges voluntarily. Individuals may see the moral light and voluntarily give up their unjust posture; but, as Reinhold Niebuhr has reminded us, groups tend to be more immoral than individuals.
We know through painful experience that freedom is never voluntarily given by the oppressor; it must be demanded by the oppressed. Frankly, I have yet to engage in a direct action campaign that was "well timed" in the view of those who have not suffered unduly from the disease of segregation. For years now I have heard the word "Wait!" It rings in the ear of every Negro with piercing familiarity. This "Wait" has almost always meant "Never." We must come to see, with one of our distinguished jurists, that "justice too long delayed is justice denied."
We have waited for more than 340 years for our constitutional and God given rights. The nations of Asia and Africa are moving with jetlike speed toward gaining political independence, but we still creep at horse and buggy pace toward gaining a cup of coffee at a lunch counter. Perhaps it is easy for those who have never felt the stinging darts of segregation to say, "Wait." But when you have seen vicious mobs lynch your mothers and fathers at will and drown your sisters and brothers at whim; when you have seen hate filled policemen curse, kick and even kill your black brothers and sisters; when you see the vast majority of your twenty million Negro brothers smothering in an airtight cage of poverty in the midst of an affluent society; when you suddenly find your tongue twisted and your speech stammering as you seek to explain to your six year old daughter why she can't go to the public amusement park that has just been advertised on television, and see tears welling up in her eyes when she is told that Funtown is closed to colored children, and see ominous clouds of inferiority beginning to form in her little mental sky, and see her beginning to distort her personality by developing an unconscious bitterness toward white people; when you have to concoct an answer for a five year old son who is asking: "Daddy, why do white people treat colored people so mean?"; when you take a cross county drive and find it necessary to sleep night after night in the uncomfortable corners of your automobile because no motel will accept you; when you are humiliated day in and day out by nagging signs reading "white" and "colored"; when your first name becomes "nigger," your middle name becomes "boy" (however old you are) and your last name becomes "John," and your wife and mother are never given the respected title "Mrs."; when you are harried by day and haunted by night by the fact that you are a Negro, living constantly at tiptoe stance, never quite knowing what to expect next, and are plagued with inner fears and outer resentments; when you are forever fighting a degenerating sense of "nobodiness"--then you will understand why we find it difficult to wait. There comes a time when the cup of endurance runs over, and men are no longer willing to be plunged into the abyss of despair. I hope, sirs, you can understand our legitimate and unavoidable impatience. You express a great deal of anxiety over our willingness to break laws. This is certainly a legitimate concern. Since we so diligently urge people to obey the Supreme Court's decision of 1954 outlawing segregation in the public schools, at first glance it may seem rather paradoxical for us consciously to break laws. One may well ask: "How can you advocate breaking some laws and obeying others?" The answer lies in the fact that there are two types of laws: just and unjust. I would be the first to advocate obeying just laws. One has not only a legal but a moral responsibility to obey just laws. Conversely, one has a moral responsibility to disobey unjust laws. I would agree with St. Augustine that "an unjust law is no law at all."
Now, what is the difference between the two? How does one determine whether a law is just or unjust? A just law is a man made code that squares with the moral law or the law of God. An unjust law is a code that is out of harmony with the moral law. To put it in the terms of St. Thomas Aquinas: An unjust law is a human law that is not rooted in eternal law and natural law. Any law that uplifts human personality is just. Any law that degrades human personality is unjust. All segregation statutes are unjust because segregation distorts the soul and damages the personality. It gives the segregator a false sense of superiority and the segregated a false sense of inferiority. Segregation, to use the terminology of the Jewish philosopher Martin Buber, substitutes an "I it" relationship for an "I thou" relationship and ends up relegating persons to the status of things. Hence segregation is not only politically, economically and sociologically unsound, it is morally wrong and sinful. Paul Tillich has said that sin is separation. Is not segregation an existential expression of man's tragic separation, his awful estrangement, his terrible sinfulness? Thus it is that I can urge men to obey the 1954 decision of the Supreme Court, for it is morally right; and I can urge them to disobey segregation ordinances, for they are morally wrong.
Let us consider a more concrete example of just and unjust laws. An unjust law is a code that a numerical or power majority group compels a minority group to obey but does not make binding on itself. This is difference made legal. By the same token, a just law is a code that a majority compels a minority to follow and that it is willing to follow itself. This is sameness made legal. Let me give another explanation. A law is unjust if it is inflicted on a minority that, as a result of being denied the right to vote, had no part in enacting or devising the law. Who can say that the legislature of Alabama which set up that state's segregation laws was democratically elected? Throughout Alabama all sorts of devious methods are used to prevent Negroes from becoming registered voters, and there are some counties in which, even though Negroes constitute a majority of the population, not a single Negro is registered. Can any law enacted under such circumstances be considered democratically structured?
Sometimes a law is just on its face and unjust in its application. For instance, I have been arrested on a charge of parading without a permit. Now, there is nothing wrong in having an ordinance which requires a permit for a parade. But such an ordinance becomes unjust when it is used to maintain segregation and to deny citizens the First-Amendment privilege of peaceful assembly and protest.
I hope you are able to see the distinction I am trying to point out. In no sense do I advocate evading or defying the law, as would the rabid segregationist. That would lead to anarchy. One who breaks an unjust law must do so openly, lovingly, and with a willingness to accept the penalty. I submit that an individual who breaks a law that conscience tells him is unjust, and who willingly accepts the penalty of imprisonment in order to arouse the conscience of the community over its injustice, is in reality expressing the highest respect for law.
Of course, there is nothing new about this kind of civil disobedience. It was evidenced sublimely in the refusal of Shadrach, Meshach and Abednego to obey the laws of Nebuchadnezzar, on the ground that a higher moral law was at stake. It was practiced superbly by the early Christians, who were willing to face hungry lions and the excruciating pain of chopping blocks rather than submit to certain unjust laws of the Roman Empire. To a degree, academic freedom is a reality today because Socrates practiced civil disobedience. In our own nation, the Boston Tea Party represented a massive act of civil disobedience.
We should never forget that everything Adolf Hitler did in Germany was "legal" and everything the Hungarian freedom fighters did in Hungary was "illegal." It was "illegal" to aid and comfort a Jew in Hitler's Germany. Even so, I am sure that, had I lived in Germany at the time, I would have aided and comforted my Jewish brothers. If today I lived in a Communist country where certain principles dear to the Christian faith are suppressed, I would openly advocate disobeying that country's antireligious laws.
I must make two honest confessions to you, my Christian and Jewish brothers. First, I must confess that over the past few years I have been gravely disappointed with the white moderate. I have almost reached the regrettable conclusion that the Negro's great stumbling block in his stride toward freedom is not the White Citizen's Counciler or the Ku Klux Klanner, but the white moderate, who is more devoted to "order" than to justice; who prefers a negative peace which is the absence of tension to a positive peace which is the presence of justice; who constantly says: "I agree with you in the goal you seek, but I cannot agree with your methods of direct action"; who paternalistically believes he can set the timetable for another man's freedom; who lives by a mythical concept of time and who constantly advises the Negro to wait for a "more convenient season." Shallow understanding from people of good will is more frustrating than absolute misunderstanding from people of ill will. Lukewarm acceptance is much more bewildering than outright rejection.
I had hoped that the white moderate would understand that law and order exist for the purpose of establishing justice and that when they fail in this purpose they become the dangerously structured dams that block the flow of social progress. I had hoped that the white moderate would understand that the present tension in the South is a necessary phase of the transition from an obnoxious negative peace, in which the Negro passively accepted his unjust plight, to a substantive and positive peace, in which all men will respect the dignity and worth of human personality. Actually, we who engage in nonviolent direct action are not the creators of tension. We merely bring to the surface the hidden tension that is already alive. We bring it out in the open, where it can be seen and dealt with. Like a boil that can never be cured so long as it is covered up but must be opened with all its ugliness to the natural medicines of air and light, injustice must be exposed, with all the tension its exposure creates, to the light of human conscience and the air of national opinion before it can be cured.
In your statement you assert that our actions, even though peaceful, must be condemned because they precipitate violence. But is this a logical assertion? Isn't this like condemning a robbed man because his possession of money precipitated the evil act of robbery? Isn't this like condemning Socrates because his unswerving commitment to truth and his philosophical inquiries precipitated the act by the misguided populace in which they made him drink hemlock? Isn't this like condemning Jesus because his unique God consciousness and never ceasing devotion to God's will precipitated the evil act of crucifixion? We must come to see that, as the federal courts have consistently affirmed, it is wrong to urge an individual to cease his efforts to gain his basic constitutional rights because the quest may precipitate violence. Society must protect the robbed and punish the robber. I had also hoped that the white moderate would reject the myth concerning time in relation to the struggle for freedom. I have just received a letter from a white brother in Texas. He writes: "All Christians know that the colored people will receive equal rights eventually, but it is possible that you are in too great a religious hurry. It has taken Christianity almost two thousand years to accomplish what it has. The teachings of Christ take time to come to earth." Such an attitude stems from a tragic misconception of time, from the strangely irrational notion that there is something in the very flow of time that will inevitably cure all ills. Actually, time itself is neutral; it can be used either destructively or constructively. More and more I feel that the people of ill will have used time much more effectively than have the people of good will. We will have to repent in this generation not merely for the hateful words and actions of the bad people but for the appalling silence of the good people. Human progress never rolls in on wheels of inevitability; it comes through the tireless efforts of men willing to be co workers with God, and without this hard work, time itself becomes an ally of the forces of social stagnation. We must use time creatively, in the knowledge that the time is always ripe to do right. Now is the time to make real the promise of democracy and transform our pending national elegy into a creative psalm of brotherhood. Now is the time to lift our national policy from the quicksand of racial injustice to the solid rock of human dignity.
You speak of our activity in Birmingham as extreme. At first I was rather disappointed that fellow clergymen would see my nonviolent efforts as those of an extremist. I began thinking about the fact that I stand in the middle of two opposing forces in the Negro community. One is a force of complacency, made up in part of Negroes who, as a result of long years of oppression, are so drained of self respect and a sense of "somebodiness" that they have adjusted to segregation; and in part of a few middle-class Negroes who, because of a degree of academic and economic security and because in some ways they profit by segregation, have become insensitive to the problems of the masses. The other force is one of bitterness and hatred, and it comes perilously close to advocating violence. It is expressed in the various black nationalist groups that are springing up across the nation, the largest and best known being Elijah Muhammad's Muslim movement. Nourished by the Negro's frustration over the continued existence of racial discrimination, this movement is made up of people who have lost faith in America, who have absolutely repudiated Christianity, and who have concluded that the white man is an incorrigible "devil."
I have tried to stand between these two forces, saying that we need emulate neither the "do nothingism" of the complacent nor the hatred and despair of the black nationalist. For there is the more excellent way of love and nonviolent protest. I am grateful to God that, through the influence of the Negro church, the way of nonviolence became an integral part of our struggle. If this philosophy had not emerged, by now many streets of the South would, I am convinced, be flowing with blood. And I am further convinced that if our white brothers dismiss as "rabble rousers" and "outside agitators" those of us who employ nonviolent direct action, and if they refuse to support our nonviolent efforts, millions of Negroes will, out of frustration and despair, seek solace and security in black nationalist ideologies--a development that would inevitably lead to a frightening racial nightmare.
Oppressed people cannot remain oppressed forever. The yearning for freedom eventually manifests itself, and that is what has happened to the American Negro. Something within has reminded him of his birthright of freedom, and something without has reminded him that it can be gained. Consciously or unconsciously, he has been caught up by the Zeitgeist, and with his black brothers of Africa and his brown and yellow brothers of Asia, South America and the Caribbean, the United States Negro is moving with a sense of great urgency toward the promised land of racial justice. If one recognizes this vital urge that has engulfed the Negro community, one should readily understand why public demonstrations are taking place. The Negro has many pent up resentments and latent frustrations, and he must release them. So let him march; let him make prayer pilgrimages to the city hall; let him go on freedom rides -and try to understand why he must do so. If his repressed emotions are not released in nonviolent ways, they will seek expression through violence; this is not a threat but a fact of history. So I have not said to my people: "Get rid of your discontent." Rather, I have tried to say that this normal and healthy discontent can be channeled into the creative outlet of nonviolent direct action. And now this approach is being termed extremist. But though I was initially disappointed at being categorized as an extremist, as I continued to think about the matter I gradually gained a measure of satisfaction from the label. Was not Jesus an extremist for love: "Love your enemies, bless them that curse you, do good to them that hate you, and pray for them which despitefully use you, and persecute you." Was not Amos an extremist for justice: "Let justice roll down like waters and righteousness like an ever flowing stream." Was not Paul an extremist for the Christian gospel: "I bear in my body the marks of the Lord Jesus." Was not Martin Luther an extremist: "Here I stand; I cannot do otherwise, so help me God." And John Bunyan: "I will stay in jail to the end of my days before I make a butchery of my conscience." And Abraham Lincoln: "This nation cannot survive half slave and half free." And Thomas Jefferson: "We hold these truths to be self evident, that all men are created equal . . ." So the question is not whether we will be extremists, but what kind of extremists we will be. Will we be extremists for hate or for love? Will we be extremists for the preservation of injustice or for the extension of justice? In that dramatic scene on Calvary's hill three men were crucified. We must never forget that all three were crucified for the same crime--the crime of extremism. Two were extremists for immorality, and thus fell below their environment. The other, Jesus Christ, was an extremist for love, truth and goodness, and thereby rose above his environment. Perhaps the South, the nation and the world are in dire need of creative extremists.
I had hoped that the white moderate would see this need. Perhaps I was too optimistic; perhaps I expected too much. I suppose I should have realized that few members of the oppressor race can understand the deep groans and passionate yearnings of the oppressed race, and still fewer have the vision to see that injustice must be rooted out by strong, persistent and determined action. I am thankful, however, that some of our white brothers in the South have grasped the meaning of this social revolution and committed themselves to it. They are still all too few in quantity, but they are big in quality. Some -such as Ralph McGill, Lillian Smith, Harry Golden, James McBride Dabbs, Ann Braden and Sarah Patton Boyle--have written about our struggle in eloquent and prophetic terms. Others have marched with us down nameless streets of the South. They have languished in filthy, roach infested jails, suffering the abuse and brutality of policemen who view them as "dirty nigger-lovers." Unlike so many of their moderate brothers and sisters, they have recognized the urgency of the moment and sensed the need for powerful "action" antidotes to combat the disease of segregation. Let me take note of my other major disappointment. I have been so greatly disappointed with the white church and its leadership. Of course, there are some notable exceptions. I am not unmindful of the fact that each of you has taken some significant stands on this issue. I commend you, Reverend Stallings, for your Christian stand on this past Sunday, in welcoming Negroes to your worship service on a nonsegregated basis. I commend the Catholic leaders of this state for integrating Spring Hill College several years ago.
But despite these notable exceptions, I must honestly reiterate that I have been disappointed with the church. I do not say this as one of those negative critics who can always find something wrong with the church. I say this as a minister of the gospel, who loves the church; who was nurtured in its bosom; who has been sustained by its spiritual blessings and who will remain true to it as long as the cord of life shall lengthen.
When I was suddenly catapulted into the leadership of the bus protest in Montgomery, Alabama, a few years ago, I felt we would be supported by the white church. I felt that the white ministers, priests and rabbis of the South would be among our strongest allies. Instead, some have been outright opponents, refusing to understand the freedom movement and misrepresenting its leaders; all too many others have been more cautious than courageous and have remained silent behind the anesthetizing security of stained glass windows.
In spite of my shattered dreams, I came to Birmingham with the hope that the white religious leadership of this community would see the justice of our cause and, with deep moral concern, would serve as the channel through which our just grievances could reach the power structure. I had hoped that each of you would understand. But again I have been disappointed.
I have heard numerous southern religious leaders admonish their worshipers to comply with a desegregation decision because it is the law, but I have longed to hear white ministers declare: "Follow this decree because integration is morally right and because the Negro is your brother." In the midst of blatant injustices inflicted upon the Negro, I have watched white churchmen stand on the sideline and mouth pious irrelevancies and sanctimonious trivialities. In the midst of a mighty struggle to rid our nation of racial and economic injustice, I have heard many ministers say: "Those are social issues, with which the gospel has no real concern." And I have watched many churches commit themselves to a completely other worldly religion which makes a strange, un-Biblical distinction between body and soul, between the sacred and the secular.
I have traveled the length and breadth of Alabama, Mississippi and all the other southern states. On sweltering summer days and crisp autumn mornings I have looked at the South's beautiful churches with their lofty spires pointing heavenward. I have beheld the impressive outlines of her massive religious education buildings. Over and over I have found myself asking: "What kind of people worship here? Who is their God? Where were their voices when the lips of Governor Barnett dripped with words of interposition and nullification? Where were they when Governor Wallace gave a clarion call for defiance and hatred? Where were their voices of support when bruised and weary Negro men and women decided to rise from the dark dungeons of complacency to the bright hills of creative protest?"
Yes, these questions are still in my mind. In deep disappointment I have wept over the laxity of the church. But be assured that my tears have been tears of love. There can be no deep disappointment where there is not deep love. Yes, I love the church. How could I do otherwise? I am in the rather unique position of being the son, the grandson and the great grandson of preachers. Yes, I see the church as the body of Christ. But, oh! How we have blemished and scarred that body through social neglect and through fear of being nonconformists.
There was a time when the church was very powerful--in the time when the early Christians rejoiced at being deemed worthy to suffer for what they believed. In those days the church was not merely a thermometer that recorded the ideas and principles of popular opinion; it was a thermostat that transformed the mores of society. Whenever the early Christians entered a town, the people in power became disturbed and immediately sought to convict the Christians for being "disturbers of the peace" and "outside agitators."' But the Christians pressed on, in the conviction that they were "a colony of heaven," called to obey God rather than man. Small in number, they were big in commitment. They were too God-intoxicated to be "astronomically intimidated." By their effort and example they brought an end to such ancient evils as infanticide and gladiatorial contests. Things are different now. So often the contemporary church is a weak, ineffectual voice with an uncertain sound. So often it is an archdefender of the status quo. Far from being disturbed by the presence of the church, the power structure of the average community is consoled by the church's silent--and often even vocal--sanction of things as they are.
But the judgment of God is upon the church as never before. If today's church does not recapture the sacrificial spirit of the early church, it will lose its authenticity, forfeit the loyalty of millions, and be dismissed as an irrelevant social club with no meaning for the twentieth century. Every day I meet young people whose disappointment with the church has turned into outright disgust.
Perhaps I have once again been too optimistic. Is organized religion too inextricably bound to the status quo to save our nation and the world? Perhaps I must turn my faith to the inner spiritual church, the church within the church, as the true ekklesia and the hope of the world. But again I am thankful to God that some noble souls from the ranks of organized religion have broken loose from the paralyzing chains of conformity and joined us as active partners in the struggle for freedom. They have left their secure congregations and walked the streets of Albany, Georgia, with us. They have gone down the highways of the South on tortuous rides for freedom. Yes, they have gone to jail with us. Some have been dismissed from their churches, have lost the support of their bishops and fellow ministers. But they have acted in the faith that right defeated is stronger than evil triumphant. Their witness has been the spiritual salt that has preserved the true meaning of the gospel in these troubled times. They have carved a tunnel of hope through the dark mountain of disappointment. I hope the church as a whole will meet the challenge of this decisive hour. But even if the church does not come to the aid of justice, I have no despair about the future. I have no fear about the outcome of our struggle in Birmingham, even if our motives are at present misunderstood. We will reach the goal of freedom in Birmingham and all over the nation, because the goal of America is freedom. Abused and scorned though we may be, our destiny is tied up with America's destiny. Before the pilgrims landed at Plymouth, we were here. Before the pen of Jefferson etched the majestic words of the Declaration of Independence across the pages of history, we were here. For more than two centuries our forebears labored in this country without wages; they made cotton king; they built the homes of their masters while suffering gross injustice and shameful humiliation -and yet out of a bottomless vitality they continued to thrive and develop. If the inexpressible cruelties of slavery could not stop us, the opposition we now face will surely fail. We will win our freedom because the sacred heritage of our nation and the eternal will of God are embodied in our echoing demands. Before closing I feel impelled to mention one other point in your statement that has troubled me profoundly. You warmly commended the Birmingham police force for keeping "order" and "preventing violence." I doubt that you would have so warmly commended the police force if you had seen its dogs sinking their teeth into unarmed, nonviolent Negroes. I doubt that you would so quickly commend the policemen if you were to observe their ugly and inhumane treatment of Negroes here in the city jail; if you were to watch them push and curse old Negro women and young Negro girls; if you were to see them slap and kick old Negro men and young boys; if you were to observe them, as they did on two occasions, refuse to give us food because we wanted to sing our grace together. I cannot join you in your praise of the Birmingham police department.
It is true that the police have exercised a degree of discipline in handling the demonstrators. In this sense they have conducted themselves rather "nonviolently" in public. But for what purpose? To preserve the evil system of segregation. Over the past few years I have consistently preached that nonviolence demands that the means we use must be as pure as the ends we seek. I have tried to make clear that it is wrong to use immoral means to attain moral ends. But now I must affirm that it is just as wrong, or perhaps even more so, to use moral means to preserve immoral ends. Perhaps Mr. Connor and his policemen have been rather nonviolent in public, as was Chief Pritchett in Albany, Georgia, but they have used the moral means of nonviolence to maintain the immoral end of racial injustice. As T. S. Eliot has said: "The last temptation is the greatest treason: To do the right deed for the wrong reason."
Case Study 1: Month 48. $4k/m.
submitted by xferok to juststart [link] [comments]
Semi-regular commenter here: this has been a long time coming. I’ve been a 'Just Starter' for over 4 years. I figured it’s time to share my story, lessons learned, and try to open up some good discussion.
I know we've all been frustrated at the lack of original content on here (shout out to all the Case Study: Month 1 posts) so hopefully this gives you something to read. So, instead of Month 1, here's Month 48!
I originally found Humble’s first case studies not long after he posted them. I was already looking at ways to make money online, and was instantly hooked.
With my web developer friend we made a broad home site, and I started writing. Basically just doing best of lists of blenders, ice cream makers, etc. I went through a summer of productivity: getting up at 5.45am before my office job and blasting out writing on the daily.
1 year later, with around 50 posts, two pages struck gold and we peaked at $2,700 in a month from US Amazon affiliate income. These were seasonal pages and a July heatwave helped a ton. It quickly died back off in the winter.
After that summer, productivity nosedived (I got a girlfriend). But sporadically kept building the site. Our income never got back to that peak, but the next summer saw a few $2k months. That's when I started to think doing this full time was possible. My job had become badly managed, and I wanted to move away from the city. So despite the site still making peanuts most months, I quit my full time job on July 1st, 2019.
1 Year Later
This year has flown by so quickly. I wondered so much about what it would be like to do this full time, and now here we are. Here’s the year in summary:
- I’m nowhere near as productive as I thought. Initially my targets were an article published every 3rd day (including weekends) plus producing lead magnets, running outreach, etc. I was still the only writer. Turns out I can’t really stretch the 1-2 focused hours squeezed in around a job into 8-12 focused hours daily. Staying productive and focused has been (and still is) a challenge.
- I remember Humble saying he works 12 hours a day without even noticing. Sometimes I get that, but often it's more of a battle. Especially during quarantine.
- Still, the last few months have seen the full-time efforts kick in – we’ve been getting more traffic than I thought possible (peaking around 4k hits/day) and livable income from it.
- Until the Amazon cuts, that is. My plan was to hit my old salary (circa $4k/m) then diversity away from Amazon into other affiliate programs. We were just about there when Amazon decimated our income. Damn you Bezos.
- Due to the seasonal growth coming back and the momentum we have, our results are still growing despite the cuts. From the outside it looks like there wasn’t a change and it’s normal growth – but in reality we would've hit $7k last month.
- After some trial and error I now have a fantastic writer publishing 2 posts a week ($40/1000 words). This allows me to focus more on outreach, skyscraper posts, and building out a new site.
- Not having a standard job is scary. There’s no pension plan, no career path, and Amazon/Google could screw you in a moment’s notice. Don’t get me wrong – I love it and wouldn’t change it for the world. But it does change things.
- I cannot describe how much I miss working in cafés/libraries! Those were the life and soul of my work routine.
- My dream (and inspiration to do this) was to travel the world while earning a real income. I was meant to leave for South America 2 months ago. Can't wait to grab the first plane ticket out of the UK in the next few months.
Traffic & Earnings Traffic
: https://imgur.com/ofnjfVa The recent ‘explosion’ has been from the many informational posts I wrote after going full time. These are now finally maturing. Even with an established site it's still taking 3-6months for many of our posts to mature fully. Also we're still more summer focused than anything - still trying to get away from that. Earnings
(Amazon rate cut was April 21st). These don’t include UK/Canada which run at around 10% of US income. I couldn't get our earnings from the start - Amazon only goes back 2 years. Until 2020, earnings were entirely from Amazon’s affiliate programs. Recently we signed up to Ezoic, though we were getting sweet f all ($6.5/1000 sessions). In the last month we switched to Mediavine and it’s changed everything. We’re seeing $25/1000 sessions, currently bringing $70+ a day. This alone has almost offset the Amazon cuts.
Our Strategy I want to touch on how we’ve built the site, since that's always what I'm most interested in when reading other studies. Ours is about as simple a setup as you can imagine.
Until I went full time, 90% of our posts were simple ‘best of’ lists. These were lower competition keywords. We didn’t build a single backlink (mostly due to my lack of trying). Most of our success came from playing with the wording of semi-long tails. (For example instead of best blender, most reliable blender). Though this is getting harder with semantic search getting better.
Lately I’ve been doing more informational posts, with some
level of link building to our top affiliate ones. These are 10x easier to rank for and, with a decent ad network, a good money maker. Keyword Research
Nothing fancy here.
I’ve used a combination of Ahrefs (batching via their $7/7days trials) and Income School’s “alphabet soup” method to find keywords. Always manually checking the competition before committing to anything. Article Setup
All on-page SEO is now covered in a publish checklist. Mostly watching out for:
- Short URL’s
- Optimized Images
- Easy to read vocabulary
- Highlighted text
- Snippet magnets
I try to keep it up to date with the latest coming out of Authority Hacker, Backlinko, Ahrefs case studies.
Luckily my friend is a web dev wizard, so our theme is entirely custom with some slick formatting for product reviews, pros/cons, etc. This gives us a high authority look which I can only imagine helps. Backlinks
Up until recently I hadn’t built a single backlink for the site.
We’d been pretty lucky with the keywords we went for – and mostly still are. There are very few posts I’ve actively built links to, and I’ve yet to deliberately win a medium/hard keyword with strategically built links.
That said, I’ve been trying to do much more in terms of link building. Especially now that I have the time. I’ve really noticed that it’s not about getting 400 money pages, but striking gold with 5-10 of them. We have 160 posts and the 80/20 principle definitely applies to the results we see from them.
Mostly the link building has been a case of shotgun skyscraper (Authority Hacker) and a few exchanges or paid links here and there. I’ve not had too much success, but I'm looking forward to sticking at it until we do. I’ve been inspired by the massive success jumstakl
was sharing from this, and want to master it to his level. Though I do appreciate it's all pretty outdated now.
That said, our current top post (25% of all traffic) is a fairly random informational post that I’ve never built links to. For some reason it just topped a very nice SERP in Australia. Can't complain. Content
One advantage we've had (imo) is in original, well researched content.
Having written over 150,000 words for this site I've gotten pretty quick at putting out articles. I typically take notes on every post in the top 10 results, collate that into one larger outline, and write. There's so many outsourced posts out there that sound like they were written using a Cambridge Thesaurus - so I try to keep things super conversational and easy to read.
The goal for this site is to keep maintaining what we have while continuing to build. I want minimal input for day-to-day writing, with my only involvement being keyword research, high quality posts, and outreach.
On top of that, I want us to hit a few ‘big’ keywords too. Topics with decent competition where our quality and real links get us to the top and blow up our income.
My ultimate goal is to hit $10k/month in income. This would be huge for me, give me friend some massive side income help (he gets 20%), and put us at a sale value that could buy an apartment. Strategy
I desperately need to work with other affiliate programs away from Amazon. This has been something I thought would take days to fix, but I’ve spent ages analyzing potential affiliates and yet to make a sale with any. We’ve started on two silos built for new affiliate programs, so hopefully these will give some good returns.
From what I understand it’s going to be hitting huge success with smaller affiliate programs that will allow you to cruise past 5 figures a month in income. Though I'm a bit paralyzed because it feels like branching out into a new world – rather than the same old rinse and repeat I’m used to with Amazon.
Ask Me Anything There’s obviously much more to our site than I can cover in one post. So AMA! It’s lockdown and I’m bored: if you want to know anything just ask. I may reply slowly, but I will reply.
- I’d just like to shout out the mods for keeping this subreddit going. I literally wouldn’t be doing this without this sub (and Humble who started it). Thank you.*
- I’d like to agree with the recent sticky – there’s too much spam on here recently. I feel like Humble would lose his mind at the amount of shitposts. It’s up to all of us to report the dumb questions for the automod to remove, and to discourage the ‘Case Study: Month 1’ spam.*
- Are there any other communities you guys subscribe to for sites above the $1k/month mark? Speaking regularly to others with established sites would be a massive help - outside of this forum I don't really have anyone to talk to. Would love to become part of a community and make a few friends who also run sites like mine. If there’s anyone like that on here – particularly based in the UK – please hit me up!
Thanks for reading.
Updated list of Global Beermoney opportunities (+180!) - June 2020
submitted by Proim to beermoneyglobal [link] [comments]
Updated list of Global Beermoney opportunities (+180!) - June 2020
The current, and now previous, Beermoney Global list
started nearly 5 years ago. It’s been updated and has grown over all that time, but it also became a hassle to keep current. It was time to build a new list from scratch based on my experience in the Beermoney world over all these years and all the contributions all of you have been making in this sub.
The lists consist of opportunities that are available in at least one country that is not the US. This means there are sites which only work in Canada or the UK. There’s sites which are open to the whole world, but this does not mean everyone can really earn something on it. It’s all still very demographic and therefore location dependent. This list should give you a starting point to try out and find what works for you. I’m not using everything myself as I prefer to focus on a few, so not all are tested by me. They are found in this sub, other subreddits and other resources where people claim to have success.
I’ve chosen the format of a simple table with the bare minimum of information to keep things clean. It includes a link, how you earn, personal payment proof if available and sign-up bonus codes if applicable. Some of these bonuses are also one-time use codes specifically made for this sub! For the ones I don’t have payment proof (yet) feel free to provide some as a comment or via modmail so others know it’s legit. I am working on detailed instructions for each method that I personally use which will include things like cashout minimum, cashout options, tips & tricks,... For now I’ve split things up based on the type of earning like passive or mobile. Because of this there’s sometimes an overlap as some are both passive and on mobile or both earning crypto and a GPT (Get Paid To) website.
The lists are obviously not complete so I invite you to keep posting new ones in the sub, as a comment to this post, or in modmail. Especially if you have sites or apps which work for one single specific country I can start building a list, just like I did for The Netherlands and Belgium. If you recognize things which are in fact scams or not worth it let me know as well.
Get Paid To (Surveys, tasks, offers, videos, clicking links, play games, searching)
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|ySense - The best global site ||Surveys, tasks, offers, videos ||Paypal ||/ |
|PrizeRebel ||Surveys, tasks, offers, videos ||Paypal ||Enter code 'beermoneyglobal' |
|SerpClix ||Google searching ||Paypal ||/ |
|Swagbucks & SwagButton ||Surveys, tasks, offers, videos, shopping & cashback, games, apps ||Paypal ||/ |
|GG2U ||Surveys, tasks, offers, videos ||Pending ||$1.00 if register here |
|Keep Rewarding ||Surveys, tasks, offers, videos, PTC ||Pending ||$0.25 if register here |
|Ebesucher ||Surfing, reading mails ||Bank transfer ||/ |
|Reward XP ||Surveys, tasks, offers, videos ||Pending ||$0.50 if register here |
|Gain.gg ||Surveys, tasks, offers, videos ||Paypal ||$0.10 if register here |
|Timebucks ||Surveys, tasks, offers, videos, Tik Tok, Shopping ||Pending ||$1.00 if register here |
|GamerMine ||Surveys, offers, videos, tasks, ||Pending ||$1.00 if register here |
|Gamehag ||Tasks, offers, play games, post on forum, writing ||Pending ||/ |
|BTCSurveys ||Surveys ||Pending ||/ |
|FruitLab ||Watch & upload video game clips ||Pending ||100 pips if register here |
|Clickworker ||Transcripts, tasks, UHRS (categorizing), surveys ||Paypal ||/ |
|FreeSkins ||Surveys, offers, tasks, videos ||Pending ||100 coins if register here |
|iRazoo ||Games, surveys, videos, offers, apps ||Pending ||Enter code 'AK7DB2' for 500 points when signing up |
|EarnCrypto ||Data entry, surveys, offers, tasks, videos, games, apps ||Pending ||/ |
|Blockreward ||Apps, surveys, videos, tasks, offers ||Pending ||$2.00 if register here and earn 20000b + $2.00 if earn 10000b within 30 days |
|PaidViewPoint ||Surveys ||Pending ||/ |
|GrabPoints ||Suverys, videos, offers, games, apps ||Pending ||500 points if register here |
|RewardingWays ||Surveys, offers, tasks, videos, contests ||Pending ||$0.20 if register here |
|SuperPay ||Surveys, offers, tasks, videos, contests ||Pending ||$0.20 if register here |
|InstaGC ||Surveys, tasks, videos, apps ||Pending ||/ |
|GiftHunterClub ||Surveys, offers, videos, apps, games ||Pending ||$0.75 if register here |
|Idle-Empire ||Surveys, offers, videos, mining, apps, games ||Pending ||500 points if register here |
|PicoWorkers ||Tasks, games, apps ||Pending ||/ |
|ViewFruit ||Surveys ||Pending ||/ |
|Mobrog (change language if needed) ||Surveys ||Pending ||/ |
|Surveytime ||Surveys ||Pending ||/ |
|Giveaway Pros ||Offers, videos ||Pending ||/ |
|SEO Sprint (Russian, use Google Translate) ||Tasks ||Pending ||/ |
|Earnhoney ||Surveys, tasks, offers, videos ||Pending ||/ |
|Toluna ||Surveys ||Pending ||/ |
|Spidermetrix ||Surveys ||Pending ||/ |
|BeerSurveys ||Surveys, tasks, offers ||Pending ||/ |
|CrowdHolding ||Co-create with startups ||Pending ||/ |
|Diaworkers ||Tasks ||Pending ||/ |
|Presearch ||Search & Earn ||Pending ||/ |
|Univox Community ||Surveys ||Pending ||/ |
|YouGov ||Surveys ||Pending ||/ |
|Spare5 ||Tasks ||Paypal ||/ |
|Rewardia ||Surveys, polls, games, videos, puzzles, trivia ||Pending ||3000 points extra (when you earn 3000 points) if register here |
|Earnably ||Surveys, tasks, offers, videos ||Pending ||/ |
|Neevo ||Tasks ||Pending ||/ |
|Rakuten Insight (country specific links) ||Surveys ||Pending ||/ |
|The Panel Station ||Surveys ||Pending ||/ |
|Remotasks ||Tasks ||Pending ||/ |
|Pureprofile ||Surveys ||Pending ||/ |
|UserCrowd ||Tasks ||PayPal ||/ |
|Sruvey Village ||Surveys ||Pending ||/ |
|InboxDollars/InboxPounds ||Surveys, offers, videos, shopping ||Pending ||/ |
|Qmee ||Surveys ||Pending ||/ |
|MicroWorkers ||Tasks ||Pending ||/ |
|Cinchbucks ||Surveys, offers, tasks, videos ||Pending ||/ |
|Rewards1 ||Suverys, videos, offers, games, apps, polls, contests ||Pending ||/ |
|Vindale ||Surveys ||Pending ||/ |
|PointClub ||Surveys ||Pending ||/ |
|TGM Panel ||Surveys ||Pending ||/ |
|PaidPoints ||Tasks, offers, traffic exchange, ad clicking ||Pending ||/ |
|RapidWorkers ||Tasks ||Pending ||/ |
|AnyTask ||Sell your skills ||Pending ||/ |
|Bounty0x ||Tasks ||Pending ||/ |
|Opinion World ||Surveys ||Pending ||/ |
|Lifepoints ||Surveys ||Pending ||/ |
Passive (desktop & mobile)
Crypto (faucets, mining, GPT)
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|Cointiply ||Faucet, surveys, tasks, offers, videos ||Bitcoin ||Enter code 'beermoneyglobal' |
|FreeBitcoin ||Faucet, lottery, betting, passive interest ||Bitcoin ||/ |
|AdBTC ||Click ads, active window surfing, autosurfing ||Pending ||/ |
|Faucetpay ||Faucet Wallet, exchange, offers, tasks, trading ||Pending ||/ |
|Faucet Crypto ||Faucet, ads clicking, offers, shortlinks ||Pending ||/ |
|More Money ||Faucet, ads clicking, offers, shortlinks ||Pending ||/ |
|Kryptex ||Crypto mining ||Pending ||/ |
|Quicrypto ||Surveys, tasks, offers, games, videos ||Pending ||/ |
|Coinpot ||Faucet ||Bitcoin ||/ |
|Honeyminer ||Mining ||Pending ||1000 satoshis if register here |
|BitShark ||Faucet, games ||Pending ||/ |
|Publish0x ||Read & write articles ||Pending ||/ |
|Starbits ||Faucet (need FaucetPay account) ||Pending ||/ |
|Coinpayu ||Ads clicking, videos, offers ||Pending ||/ |
|BTCSurveys ||Surveys ||Pending ||/ |
|Blockreward ||Apps, surveys, videos ||Pending ||$2.00 if register here and earn 20000b + $2.00 if earn 10000b within 30 days |
|Coinbase ||Crypto sign-up bonuses ||Bank transfer ||See links in thread |
|LBRY.tv ||Watch videos ||Pending ||/ |
|Pi Network ||Crypto mining ||Pending (see here) ||To join you need a referral link |
|EarnCrypto ||Data entry, surveys, offers, tasks, videos, games, apps ||Pending ||/ |
|Phoneum ||Games, mining ||Pending ||/ |
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|Cointiply ||Faucet, surveys, tasks, offers, videos ||Bitcoin ||Enter code 'beermoneyglobal' |
|HoneyGain ||Desktop & mobile phone bandwith sharing (wifi + data) ||Paypal ||$5.00 if register here |
|Google Opinion Rewards ||Surveys ||Play Store credit ||/ |
|FreeBitcoin ||Faucet, lottery, betting, passive interest ||Bitcoin ||/ |
|AppKarma ||Games, quizes, surveys ||Pending ||Enter code 'Proim' for 300 points when signing up |
|CashKarma ||Surveys, offers, games ||Pending ||Enter code 'Proim' for 300 points when signing up |
|Cash Alarm ||Games ||Pending ||Receive 25% of my earnings if register here |
|Cash Magnet ||Games, offers, tasks, videos ||Pending ||/ |
|AttaPoll ||Surveys ||Pending ||/ |
|ClipClaps ||Videos, games, raffles ||PayPall ||$1.00 & Diamond Chest if register here |
|Quicrypto ||Surveys, tasks, offers, games, videos ||Pending ||/ |
|Poll Pay ||Surveys ||Pending ||$0.30 if using code '4CS6L4SQ8D' when signing up |
|BuzzBreak ||Read news, videos, offers, surveys ||Pending ||Enter code 'B06472489' when signing up |
|Userlytics ||Software testing ||Pending ||/ |
|WowApp ||Games, offers, surveys, videos, chat, phone unlock, calling, cashback, shopping cashback, browsing, news reading ||Pending ||/ |
|CuriousCat ||Surveys ||Pending ||/ |
|Quickthoughts ||Surveys ||Pending ||/ |
|Fitplay ||Games ||Pending ||$0.33 if register here |
|TV-Two Make Money ||Apps, games, Youtube, browsing ||Pending ||555 credits if register here |
|Mistplay ||Games ||Pending ||/ |
|FeaturePoints ||Suveys, offers, apps, cashback ||Pending ||50 points if register here |
|Money SMS ||Receive SMS ||Pending ||/ |
|BIGtoken ||Suveys, location sharing, social media account ||Pending ||Use code 'GMGALLOIA' |
|McMoney ||Receive SMS ||Pending ||$0.22 if using code '60LGG3PR' |
|Pi Network ||Crypto mining ||Pending (see here) ||To join you need a referral link |
|Roamler ||Mystery shopping ||Pending ||/ |
|SMS Profit Net ||Receive SMS ||Pending ||/ |
|Streetbees ||Surveys, tasks, create videos, take pictures ||Pending ||Enter code '6115GF' when signing up |
|Simcash ||Send SMS [risky] ||Pending ||/ |
|VoxPopMe ||Video feedback ||Pending ||/ |
|Cash4sms ||Send [risky] & receive SMS ||Pending ||/ |
|Citizen Me ||Surveys ||Pending ||/ |
|ControlMySMS ||Receive SMS ||Pending ||/ |
|Birdchain ||Send SMS [risky] ||Pending ||/ |
|Sweatcoin ||Walking ||Pending ||/ |
|COIN ||Explore ||Pending ||1000 coins if register here |
|Panel App ||Surveys, location sharing ||Pending ||/ |
|GiftHunterClub ||Surveys, offers, videos, apps, games ||Pending ||$0.75 if register here |
|Phoneum ||Games, mining ||Pending ||/ |
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|Respondent ||Interviews, research, surveys ||Pending ||/ |
|Prolific ||Surveys, research ||Paypal ||/ |
Investing (revenue share)
Selling (designs on merchandise, skills/gigs)
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|Fiverr ||Sell your skills ||Pending ||20% off on first purchase if register here |
|Redbubble ||Sell your designs ||Pending ||/ |
|Zeerk ||Sell your skills ||Pending ||/ |
|TeePublic ||Sell your designs ||Pending ||/ |
|Teespring ||Sell your designs ||Pending ||/ |
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|Rev ||Transcribing, captioning, foreign subtitles ||Pending ||/ |
|Gotranscript ||Transcribing, translating captioning, foreign subtitles ||Pending ||/ |
|TranscribeMe ||Transcribing, translating, data annotation ||Pending ||/ |
|Unbabel ||Translating ||Pending ||/ |
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|Wealthy Affiliate ||Learn affiliate marketing ||Pending ||/ |
|Brave ||Brows internet ||Pending ||/ |
|Andromo ||Develop apps ||Pending ||/ |
The Netherlands specific
For The Netherlands there are a few very good options next to a bunch of ‘spaarprogramma’s. There ‘spaarprogramma’s are all the same where you receive and click a bunch of e-mails, advertisements, banners,... I advise you to create a separate e-mail address or use a good filter in your inbox as you will be spammed to death. I believe they can be a nice piece of beermoney but they take quite the effort.
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|Euroclix ||Surveys, shopping & cashback, offers, energy/internet providers ||Bank transfer ||€1.95 if register here |
|StemPunt ||Surveys ||Gift cards ||500 points if register here |
|Cashback XL ||Shopping cashback, health insurance discount ||Bank transfer ||/ |
|Scoupy ||Shopping cashback, free products ||Pending ||/ |
|Cashback Korting ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€7.50 if register here |
|Lady Cashback ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€7.50 if register here |
|Enqueteclub ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€7.50 if register here |
|Snel Verdienen ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€2.50 if register here |
|Spaar Actief ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Klik Je Zakgeld ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Zinngeld ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€0.10 if register here |
|My Clics ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.25 if register here |
|Direct Verdiend ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€2.00 if register here |
|Spaar4Cash ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.50 if register here |
|Qassa ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||/ |
|My Flavours ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Cash Ze ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Geld Race ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.25 if register here |
|iPay ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.25 if register here |
|Double Points ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€2.00 if register here |
|Mailbeurs ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.50 if register here |
|Qlics ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.25 if register here |
|Centmail ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.50 if register here |
|Extra Euro ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.25 if register here |
|Gekken Goud ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Dutch Euro ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.50 if register here |
|Nu Cash ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register |
|Snel Euro ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Cash Hier ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.50 if register here |
|Betaalde Mails ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€2.00 if register here |
|Goudmails ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Online Cashen ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Crazy Mails ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Cash Paradijs ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Smart Clix ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€5.00 if register here |
|24/7 Discount ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||/ |
|Beetje Zakgeld ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.25 if register here |
|Geldmolen ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.75 if register here |
|Online Zakcentje ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.50 if register here |
|Geldcircus ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€0.75 if register here |
|Lady Clix ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€0.99 if register here |
|Geldwolf ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Zilvervloot ||Read mails, click banners, shopping cashback, shopping deals, compare (GWL, data, internet, tv, insurances), offers, surveys ||Pending ||€1.00 if register here |
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|Buffl ||Surveys ||Gift cards ||/ |
The one-time sign-up bonus programs are still to be found here
. If you find a new one let me know so I can create the post to keep all the ref links together.
Although it’s not really about making money online, it’s still nice to save some money as well when shopping online.
|Register here ||How to earn ||Payment proof ||Sign-up bonus code |
|Honey ||Discounts & Cashback ||/ ||500 Honey Gold if register here |
|G2A ||Game keys ||/ ||/ |
|Kinguin ||Game keys ||/ ||/ |
|Allkeyshop ||Game keys ||/ ||/ |
|AliExpress ||Save on online shopping ||/ ||$24 coupons if register here |
|Gearbest ||Save on online shopping ||/ ||/ |
Other subs & resources
Converge files for largest IPO in Philippine history (Monday, July 6)
submitted by DuncnIdahosBandurria to phinvest [link] [comments]
Happy Monday, Barkada --
The PSE closed up 9 points to 6373 ▲0.13%.
WW: 11375043 PH: 41830
Top 3 MB indices:
#COVID-19 ▲1.14% POGO Prop. ▲0.84% Power Gen. ▲0.39%
Bottom 3 MB indices:
MiddleClass ▼1.53% Media ▼1.06% 2019 IPOs ▼0.97%
Main stories covered:
- Converge ICT files for largest IPO in PSE history
- The deal: The company, a broadband internet provider owned by Dennis A. Uy (no, not THAT Dennis A. Uy from Davao, this one is from Pampanga), is looking to raise P37.4-billion through an offer of up to 1.496-billion common shares for P24 per share. The shares will begin trading under the new ticker symbol, “CICT”. (That’s kind of ugly, might have preferred “CONV” or “CVRG”.) Link here to CICT's prospectus.
- Focus on foreign investors: CICT will make up to 30% of the deal available to local investors, with 10% going to the PSE EASy program for small-timers, and 20% going to the PSE Trading Participants group which are the usual suspects of brokers. That leaves 70%, the vast bulk of the deal, which CONV intends to market internationally through both BPI Capital and BDO Capital. The rules allow “certain qualified buyers and other investors in the Philippines” to buy as part of the 70% batch, but the prospectus does not make clear what this means. (MB: All I know is that I'm probably not going to be a part of that group...)
- Primary/secondary split: Longtime readers will know my particular obsession with the ratio of primary to secondary shares in the offer. Here, out of the 1.496-billion common shares on offer, 27.7% are primary (416m shares), and 72.3% (1.08b shares) are secondary.
- Why does that matter? All the offer shares (the entire 1.496-billion) will get sold, but the money paid for the primary shares will go to the CICT, to be used for things that grow the business like capex expansion of facilities, and the money paid for the secondary shares will go to… the pockets of the selling shareholders, Comclark Network and Technology Corporation (Dennis Uy’s corp), and Coherent Cloud Investments B.V.
- Use of proceeds: The prospectus says that 90% of the proceeds from the sale of primary shares (remember, CICT doesn’t see a peso for the rest of the 72.3% of the deal) will go to “Capital Expenditures”, which it defines as 65% “investments in outside plant equipment” like CICT’s end-to-end fiber network and last-mile loops, 15% “inside plant equipment” like electronically-powered network gear, and 10% “investments in other property” like consumer premises equipment, IT systems and software. The remaining 10% of the proceeds will go to the always present “General Corporate Purposes” fund for the company to use as working capital.
- Stab fund? Yep, with a 30-day mandate to help prop up the stock price.
- Tight lockup: The initial prospectus lists both the main shareholders, Comclark and Coherent Cloud, as being locked up for 180 days. Though it still has placeholder symbols where the number of shares that each will agree to “lock” would eventually appear. A lockup gives IPO investors a degree of certainty that the live market price won’t just get spawn-camped by the main investors just looking for a big post-IPO payday. That said, 180 days isn’t that long of a period of time. 2019 IPOs had up to a full year.
- Market timing: Perhaps “The Other Dennis” got the timing just right, with the pandemic forcing more and more commerce, education, and workflow online. What’s more, the government appears to prefer the “lockdown” approach to dealing with the pandemic, which further necessitates this sort of move. CICT estimates that the average household would need approximately 250 GB to 480 GB of data per month assuming a full work/school from home environment, and according to The Other Dennis, “[t]his is the new normal. You can do your work from home while online and it is faster.” TOD claims Filipinos are “hungry” for faster, less expensive broadband internet.
- The opportunity: The company’s goal is to cover millions of households with high-speed fiber internet. Currently it only serves less than 5% of the country’s population, but during the recent COVID lockdowns, CICT experienced an “acceleration of new subscriptions” to 50,000 new residential subscribers in just May 2020 alone, which is up from the regular 33,000 new subs per each of January and February. CICT is looking to up its market share to one-third of the population.
- Impressive growth: The statements of comprehensive income show a very healthy growth in revenues from 2016 to 2019: P1.9b, P2.9b, P5.1b, P9.1b. Total comprehensive income growth is less impressive, but still substantial over the same period: P574m, P1.2b, P1.2b, P1.9b.
- Ok, but what about now? June was 20% higher than May, with 60,000 new residential subscribers: back to back records.
- Initial IPO timetable: The prospectus indicated that the IPO will price on October 9, 2020, with the aim of listing on the PSE starting October 26, 2020.
Now that is a spicy meatball. The timing is right for this kind of play, as there is so much capital sloshing around that is looking for a home with massive growth prospects. Home broadband is that kind of market. But, if the opportunity were so great, why are the lead shareholders selling their own shares so substantially, instead of going with a primary-heavy offering to assault the nation with an aggressive campaign of unrelenting capex? Perhaps The Other Dennis is looking for a massive/immediate lifestyle upgrade, and is content with the majority ownership that he will still enjoy even after closing the largest IPO in Philippine history. Then there’s also the matter of this whole “70% of the deal aimed at foreign investors” thing; what’s that about? Stay tuned, this is going to be a fantastic voyage.
About Merkado Barkada
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The truth behind Puskás Akadémia FC - How Hungarian PM Viktor Orbán stole a legend, built a stadium in his backyard and guided his team to Europe
submitted by pogacsa_is_life to soccer [link] [comments]
The 2019/2020 season of the Hungary’s National Football League (NB1) – being one of the first leagues to restart play - came to an end on 27 June. If a casual observer (for whatever reason) decides to check out the final standings
, he would be not surprised at the first two positions: record-champion Ferencváros defended their title, while regional powerhouse Fehérvár (Videoton) came in second. However, the third place team, Puskás Akadémia FC might seem unusual and one could think that there is a story behind that.
Is there a team named after Ferenc Puskás? Did some academy youths make an incredible run for the Europa League qualification? Well, the observer is right, there is a story behind all this, but it’s absolutely not a fun story. It’s a story about how one powerful man’s obsession with football stole a legend, misused state funds and killed the spirit of Hungarian football. (Warning: this is a long story, feel free to scroll down for a tl;dr. Also, I strongly advise checking out the links, those images are worth seeing).
Naturally, political influence in football has been present ever since the dawn of the sport and we know of numerous state leaders who felt confident enough to use their influence to ensure the successful development of their favored clubs – Caucescu’s FC Olt Scornicesti
and Erdogan’s Basaksehir
are well-known examples of such attempts. However, I fear that very few of the readers are aware of the fact that Puskás Akadémia FC is nothing but Hungarian PM Viktor Orbán’s grandiose project for establishing his hometown’s club as one of the country’s top teams
. Considering that Orbán managed to achieve this goal using state funds in an EU member democracy in the 2000s, one might even say that it might be one of the most impressive attempts of cheating your way through Football Manager in real life. Now that Puskás Akadémia FC escaped the desolate football scene of Hungary and is getting ready for the European takeover, I feel that it’s high time to tell its true story.
Part 1: Part time striker, part time PM
Our story begins in 1999 when the 36-year-old striker Viktor Orbán (recently elected as the country’s Prime Minister) was signed by the sixth-tier side of Felcsút FC
residing in rural Fejér County. It might sound surprising that an active politician would consider such a side job, but given that Orbán has been playing competitive low-level football throughout his whole life and has always been known as a keen football enthusiast, people seemed to be okay with his choice for a hobby. Orbán spent most of his childhood in the village of Felcsút (population: 1,800), so it seemed only natural that he would join the team after one of his old-time acquaintances became team president there.
Orbán’s arrival to the club seemed to work like a charm as Felcsút FC immediately earned a promotion to the fifth league. The Prime Minister’s busy program did not allow him to attend every training session and game but Orbán did make an effort to contribute as much as possible on the field – there is a report of a government meeting being postponed as Orbán was unavailable due to attending Felcsút FC’s spring training camp
. The 2001/2002 season brought another breakthrough for the side as Felcsút was promoted to the national level of the football pyramid after being crowned the champion of Fejér County. Sadly enough for Orbán, he suffered a defeat on another pitch – his party lost the 2002 election and Orbán was forced to move to an opposition role. No matter what happened on the political playing field, Orbán would not abandon his club.
Just before the 2002 elections, Felcsút was surprisingly appointed as one of the regional youth development centers by the Hungarian FA. Orbán continued contributing on the field as well (he had more spare time after all) but his off-the-field efforts provided much more value for the team as he used his political influence to convince right-wing businessmen that they should definitely get sponsorship deals done with the fourth-division village team. Club management was able to transform the influx of funds into on-field success: Felcsút FC was promoted to the third division in 2004 and achieved promotion to the second division in 2005.
Although these new horizons required a skill level that an aging ex-PM is not likely to possess, Orbán regularly played as a late game sub
and even appeared in cup games against actual professional opponents. The now-42-year old Orbán did not want to face the challenge of the second division, so he retired in 2005 – but this did not stop him from temping as an assistant coach when the head coach was sacked in the middle of the 2005-2006 season.
Success on the playing field did not translate to political success: Orbán lost the elections once again in 2006. However, this was only a temporary loss: the ruling party committed blunder after blunder and by early 2007 it became absolutely obvious that Orbán would be able return to power in 2010. Now confident in his political future, Orbán opted for the acceleration of football development in Felcsút – by late 2007 he took over the presidency of the club to take matters in his own hands. Sponsors seeking to gain favor with the soon-to-be PM were swarming Felcsút FC, so the club was able to stand very strong in an era where financial stability was a very rare sight in the Hungarian football scene, accumulating three medals (but no promotion) between 2007 and 2009.
On the other hand, Orbán realized the value of youth development as well, and started a local foundation for this purpose back in 2004 that gathered funds for the establishment a boarding school-like football academy.
The academy opened its doors in September 2006 (only the second of such institutions in the country) and Orbán immediately took upon the challenge of finding an appropriate name for the academy.
He went on to visit the now very sick Ferenc Puskás in the hospital to discuss using his name, but as Puskás’ medical situation was deteriorating rapidly, communication attempts were futile. Luckily enough Puskás’ wife (and soon to be widow) was able to act on his incapable husband’s behalf and approved the naming deal in a contract. According to the statement, naming rights were granted without compensation, as “Puskás would have certainly loved what’s happening down in Felcsút
”. However, there was much more to the contract: Puskás’ trademark was handed to a sports journalist friend of Orbán
(György Szöllősi, also acting communications director of the academy) who promised a hefty annual return for the family (and also a 45% share of the revenue for himself). Ferenc Puskás eventually died on 17 November 2006 and on 26 November 2006 the football academy was named after him: Puskás Academy was born.
Orbán shared his vision of the whole organization after the opening ceremony: “It’s unreasonable to think that Felcsút should have a team in the top division. We should not flatter ourselves, our players and our supporters with this dream. Our long term ambition is the creation of a stable second division team that excels in youth development and provides opportunity for the talents of the future.”
Let’s leave that there.
Part 2: No stadium left behind Orbán became PM once again in April 2010 after a landslide victory that pretty much granted him unlimited power.
He chased lots of political agendas but one of his policies was rock solid: he would revive sports (and especially football) that was left to bleed out by the previous governments. The football situation in 2010 was quite dire: while the national team has actually made some progress in the recent years and has reached the 42nd position in the world rankings, football infrastructure was in a catastrophic state. Teams were playing in rusty stadiums built in the communist era, club finances were a mess, youth teams couldn’t find training grounds and the league was plagued by violent fan groups and lackluster attendance figures (3100 average spectators per game in the 2009/2010 season).
Orbán – aided by the FA backed by business actors very interested in making him happy – saw the future in the total rebuild of the football infrastructure. Vast amounts of state development funds were invested into the football construction industry that warmly welcomed corruption, cost escalation and shady procurement deals.
In the end, money triumphed: over the last decade, new stadiums sprung out from nothing all over the country
, dozens of new academies opened and pitches for youth development appeared on practically every corner. The final piece of the stadium renovation program was the completion of the new national stadium, Puskás Aréna in 2019 (estimated cost: 575 million EUR). Orbán commemorated this historic moment with a celebratory video on his social media that features a majestic shot of Orbán modestly kicking a CGI ball from his office to the new stadium.
Obviously, Orbán understood that infrastructure alone won’t suffice
. He believed in the idea that successful clubs are the cornerstone of a strong national side as these clubs would compete in a high quality national league (and in international tournaments) that would require a constant influx of youth players developed by the clubs themselves. However, Orbán was not really keen on sharing the state’s infinite wealth with private club owners who failed to invest in their clubs between 2002 and 2010. The club ownership takeover was not that challenging as previous owners were usually happy to cut their losses, and soon enough most clubs came under Orbán’s influence
. Some clubs were integrated deep into Orbán’s reach (Ferencváros and MTK Budapest club presidents are high ranking officials of Orbán’s party) while in other cases, indirect control was deemed sufficient (Diósgyőri VTK was purchased by a businessman as an attempt to display loyalty to Orbán).
Pouring taxpayer money into infrastructure (stadium) projects is relatively easy: after all, we are basically talking about overpriced government construction projects, there’s nothing new there. On the other hand, allocating funds to clubs that should be operating on a competitive market is certainly a tougher nut to crack. The obvious solutions were implemented: the state media massively overpaid for broadcasting rights and the national sports betting agency also pays a hefty sum to the FA, allowing for a redistribution of considerable amounts. However, given that the income side of Hungarian clubs was basically non-existent (match day income is negligible, the failed youth development system does not sell players), an even more radical solution was desperately needed. Also, there was definite interest in the development of a tool that would allow for differentiation between clubs (as in the few remaining non-government affiliated clubs should not receive extra money).
The solution came in 2011: the so-called TAO (“társasági adó” = corporate tax) system was introduced, granting significant tax deductions for companies if they offered a portion of their profits to sports clubs
– however, in theory, funds acquired through TAO can be only used for youth development and infrastructure purposes. Soon enough, it became apparent that state authorities were not exactly interested in the enforcement of these restrictions, so some very basic creative accounting measures enabled clubs to use this income for anything they wanted to. Companies were naturally keen on cutting their tax burdens and scoring goodwill with the government, so TAO money immediately skyrocketed.
Opportunistic party strongmen used their influence to convince local business groups to invest in the local clubs, enabling for the meteoric rise of multiple unknown provincial teams (Mezőkövesd [pop: 16,000], Kisvárda [pop: 16,000], Balmazújváros [pop: 17,000]) into the first division.
Although it’s not the main subject of this piece, I feel inclined to show you the actual results of Orbán’s grandiose football reform. While we do have our beautiful stadiums, we don’t exactly get them filled – league attendance has stagnated around 3000 spectators per game throughout the whole decade. We couldn’t really move forward with our national team either: Hungary lost 10 positions in the FIFA World Rankings throughout Orbán’s ten years. On the other hand, the level of league has somewhat improved – Videoton and Ferencváros reached the Europa League group stage in 2019 and 2020, respectively. Too bad that the Instat-based top team
of 2019/2020 Hungarian league consists of 10 foreigners and only 1 Hungarian: the goalkeeper.
Part 3: Small place, big game!
As seen in the previous chapter, Orbán did have a strong interest in the improvement of the football situation Hungary, but we shouldn’t forget that his deepest interest and true loyalty laid in the wellbeing of Felcsút and its academy. Now that Orbán had limitless means to see to the advancement of his beloved club, he got to work immediately.
Orbán handed over formal club management duties to his friend / protégé / middleman / businessman Lőrinc Mészáros in 2010, but no questions would ever arise of who is actually calling the shots.
First of all, no club can exist without a proper stadium.
Although in 2011 Orbán explicitly stated that “Felcsút does not need a stadium as stadiums belong to cities”,
no one was really surprised in 2012 when the construction of the Felcsút stadium was announced. Orbán was generous enough to donate the lands just in front of his summer home in the village for the project, locating the entrance a mere ten meters away from his residence. Construction works for the stunningly aesthetic 3,800-seater arena
(in a village of 1,800 people) started in April 2012 and were completed in April 2014, making Felcsút’s arena the second new stadium of Orbán’s gigantic stadium revival program.
The estimated budget of the construction was 120 million EUR (31,500 EUR / seat) was financed by the Puskás Academy who explicitly stated that they did not use government funds for the project. Technically, this statement is absolutely true as the construction was financed through the TAO money offered by the numerous companies looking for tax deduction and Orbán’s goodwill. However, technically, this means that the country’s budget was decreased by 120 million EUR unrealized tax revenue. Naturally, the gargantuan football stadium looks ridiculously out of place in the small village
, but there’s really no other way to ensure that your favorite team’s stadium is within 20 seconds of walking distance from your home.
Obviously, a proper club should also have some glorious history. Felcsút was seriously lagging behind on this matter as though Felcsút FC was founded in 1931, it spent its pre-Orbán history in the uninspiring world of the 5th-7th leagues of the country. Luckily enough, Orbán had already secured Puskás’ naming rights and they were not afraid to use it, so Felcsút FC was renamed to Puskás Academy FC in 2009. The stadium name was a little bit problematic as the Hungarian national stadium in Budapest had sadly had the dibs on Puskás’ name, so they had to settle with Puskás’ Spanish nickname, resulting in the inauguration of the Pancho Arena
. But why stop here? Orbán’s sports media strongman György Szöllősi
acted upon the contract with Puskás’ widow and transferred all Puskás’ personal memorabilia
(medals, jerseys, correspondence) to the most suitable place of all: a remote village in which Puskás never even set foot in.
While the off-field issues were getting resolved, Orbán’s attention shifted to another important area: the actual game of football. Although academy players started to graduate from 2008 on, it very soon became painfully obvious that the academy program couldn’t really maintain even a second division side for now. In 2009, Orbán reached an agreement with nearby Videoton’s owner that effectively transformed Felcsút FC into Videoton’s second team under the name of Videoton – Puskás Akadémia FC. The mutually beneficent agreement would allow Videoton to give valuable playing time to squad players while it could also serve as a skipping step for Puskás Academy’s fresh graduates to a first league team. The collaboration resulted in two mid-table finishes and a bronze medal in the second division in the following three seasons that wasn’t really impressive compared to Felcsút FC’s standalone seasons.
It seemed that the mixture of reserve Videoton players and academy youth was simply not enough for promotion, and although Orbán had assured the public multiple times that his Felcsút project was not aiming for the top flight, very telling changes arose after the 2011/2012 season. Felcsút terminated the Videoton cooperation deal and used the rapidly accumulating TAO funds to recruit experienced players for the now independently operating Puskás Academy FC (PAFC)
. The new directive worked almost too well: PAFC won its division
with a 10 point lead in its first standalone year which meant that they would have to appear in the first league prior to the completion of their brand-new Pancho Arena. Too bad that this glorious result had almost nothing to do with the academy - only two players were academy graduates of the side’s regular starting XI.
Orbán did not let himself bothered with the ridiculousness of an academy team with virtually no academy players being promoted to the first division as he stated that “a marathon runner shouldn’t need to explain why the other runners were much slower than him
”. Orbán also displayed a rare burst of modesty as he added that “his team’s right place is not in the first league, and they will soon be overtaken by other, better sides”.
The promotion of PAFC to the first division made a lot of people very angry and been widely regarded as a bad move. Supporter groups were united in hatred all along the league and not surprisingly, away fans almost always outnumbered the home side at PAFC’s temporary home at Videoton’s Sóstói Stadium (demolished and rebuilt in its full glory since then
). One of the teams, however, possessed an extraordinary degree of anger against PAFC: supporters of Budapest Honvéd – the only Hungarian team in which Ferenc Puskás played – felt especially awkward about the transfer of their club legend’s heritage to Felcsút. Tensions spiked at the PAFC – Honvéd game when home security forced Honvéd supporters to remove the “Puskás”
part of their traditional “Puskás – Kispest – Hungary” banner
– the team answered the insult with style as they secured a 4-0 victory supported by fans chanting “you can’t buy legends”.
Despite Orbán’s prognosis, other better sides did not rush to overtake his team, so PAFC, now residing in their brand new Pancho Arena, came through with a 14th and a 10th place in their first two seasons. Naturally, conspiracy theories began to formulate, speculating that government-friendly owners would certainly not be motivated to give their best against PAFC. However, as the league size was reduced to 12 for the 2015/2016 season, PAFC found themselves in a dire situation just before the final round: they needed a win and needed rival Vasas to lose against MTK in order to avoid relegation. PAFC’s draw seemed to be unlucky as they faced their arch-enemy Honvéd at home, but Honvéd displayed an absolute lackluster effort – fueling conspiracy theories – and lost the fixture 2 to 1 against a home side featuring four academy players. Vasas, however, did not disappoint, their 2-0 victory resulted in PAFC’s elimination and a very relaxed sigh all over the football community.
PAFC’s relegation seemed to be in accordance with Orbán’s 2013 statement, so public opinion supposed for a while that Orbán’s project came to a halting point and the Academy would go on to actually field academy players in the second division (especially as rostering foreign players was prohibited in the lower leagues). However, if you have read through this point, you know better than to expect Orbán to retreat – obviously, PAFC came back with a bang. With a ballsy move, PAFC didn’t even sell their foreign players, they just loaned them across the league, promising them that they would be able to return next year to the newly promoted team. The promise was kept as PAFC went into another shopping spree of experienced players (easily convincing lots of them to choose the second division instead of the first) and easily won the second league. Orbán
– now aware of his negligence – opted for the doubling the team’s budget, making PAFC the third most well-founded club in the whole country
(only coming short to his friend’s Videoton and his party minion’s Ferencváros). With an actual yearly influx from TAO money in the ballpark of 30-40 million EUR, PAFC management had to really work wonders in creative accounting in order to make their money look somewhat legitimate. The books were now full of ridiculous items like:
- Construction of a new tea kitchen for youth players for 650,000 EUR
- Construction of a new “sports and conference center” for 40 million EUR
- Employment of a 45 person “cleaning and maintenance staff” for the academy.
Naturally, in the country of no consequences, absolutely nothing happened: PAFC went on with its spending and signed 35 foreigners between 2017 and 2020. They did so because they could not hope to field a winning team in the first league consisting of academy players
, despite the fact that Puskás Academy has been literally drowning in money since 2007. This seems to somewhat contradict Orbán’s 2013 promise, stating that “Puskás Academy will graduate two or three players to major European leagues each year”.
To be fair, there have been players who managed to emerge to Europe (well, exactly two of them: Roland Sallai plays at Freiburg, László Kleinheisler played at Werder Bremen) but most academy graduates don’t even have the slightest the chance to make their own academy’s pro team as it’s full of foreigners and more experienced players drawn for other teams’ programs.
Despite their unlimited funding, PAFC could not put up a top-tier performance in their first two years back in the first division, finishing 6th and 7th in the 12-team league. Many speculated that the lack of support, motivation and even a clear team mission did not allow for chemistry to develop within the multinational and multi-generational locker room. Consistency was also a rare sight on the coaching side: club management was absolutely impatient with coaches who were very easily released after a single bad spell and there were talks of on-field micromanagement request coming from as high as Orbán.
Even so, their breakthrough came dangerously close in 2018 as PAFC performed consistently well in the cup fixtures and managed to reach the final. Their opponent, Újpest played an incredibly fierce game and after a 2-2 draw, they managed to defeat PAFC in the shootout. Football fans sighed in relief throughout the country as ecstatic Újpest supporters verbally teased a visibly upset Orbán in his VIP lounge
about his loss.
Obviously, we could only delay the inevitable. While this year’s PAFC side seemed to be more consistent than its predecessors, it seemed that they won’t be able to get close to the podium - they were far behind the obvious league winner duo of Ferencváros and Videoton and were trailing third-place Mezőkövesd 6 points just before the pandemic break. However, both Mezőkövesd and PAFC’s close rivals DVTK and Honvéd fall flat after the restart while PAFC was able to maintain its good form due to its quality roster depth. PAFC overtook Mezőkövesd after the second-to-last round as Mezőkövesd lost to the later relegated Debrecen side. (Mezőkövesd coach Attila Kuttor was fined harshly because of his post-game comments on how the FA wants PAFC to finish third.)
PAFC faced Honvéd in the last round once again, and as Honvéd came up with its usual lackluster effort, PAFC secured an effortless win, confidently claiming the third place
. PAFC celebrated their success in a nearly empty stadium
, however neither Orbán, nor Mészáros (club owner, Orbán’s protégé, now 4th richest man of Hungary) seemed to worry about that. While Orbán high-fived with his peers in the VIP lounge, Mészáros was given the opportunity to award the bronze medals (and for some reason, a trophy)
to the players dressed up in the incredibly cringe worthy T-shirts that say “Small place, big game!”.
Big game, indeed: in the 2019/2020 season, foreign players’ share of the teams playing time was 43.6% while academy graduates contributed only 17.9%.
On Sunday evening, less than 24 hours after PAFC’s glorious success, György Szöllősi, now editor-in-chief of Hungary’s only sports newspaper (purchased by Orbán’s affiliates a few years back) published an editorial on the site, stating that “the soccer rebuild in Felcsút became the motor and symbol of the revitalization of sport throughout the whole country
”. Well, Szöllősi is exactly right: Felcsút did became a symbol, but a symbol of something entirely different. Felcsút became a symbol of corruption, inefficiency, lies and the colossal waste of money.
But, hey, at least we know now: you only need to spend 200 million EUR (total budget of PAFC and its academy in the 2011-2020 period) if you want to have a Europa League team in your backyard. Good to know!
Epilogue: What's in the future?
As there is no foreseeable chance for political change to happen Hungary
(Orbán effortlessly secured qualified majority in 2014 and 2018, and is projected to do so in 2022 as well), PAFC’s future seems to be as bright as it gets. Although consensus opinion now seems to assume that Orbán does not intend to interfere with the Ferencváros – Videoton hegemony, we can never be really sure about the exact limits of his greed. One could also argue that entering the European theater serves as a prime opportunity for making splashy transfers who could be the cornerstones of a side challenging the league title.
However, as all political systems are deemed to fall, eventually Orbán’s regime will come apart. Whoever will take upon the helm after Orbán, they will certainly begin with cutting back on the one item on Orbán’s agenda that never had popular support: limitless football spending. Puskás Academy, having next to zero market revenue, will not be able to survive without the state’s life support, so the club will fold very shortly. The abandoned, rotting stadium in Felcsút will serve as a memento of a powerful man who could not understand the true spirit of football.
But let’s get back to present day, as we have more pressing issues coming up soon: PAFC will play their first European match in the First qualifying round of the Europa League
on 27 August. We don’t have a date for the draw yet, but soon enough, a team unaware of the whole situation will be selected to face the beast. I hope that maybe one of their players does some research and maybe reads this very article for inspiration. I hope that the supporters of this club get in touch with Honvéd fans who would be eager to provide them with some tips on appropriate chants. I hope that other teams gets drawn as the home team so Orbán wouldn’t get the pleasure of walking to his stadium for an international match. But most importantly, I very much hope that this team obliterates PAFC and wipes them off the face of the earth.
5-0 will suffice, thank you.
And if this team fails to do that, we don’t have to worry yet. Due to our shitty league coefficient, PAFC would need to win four fixtures in a row. And that – if there’s any justice in this world – is a thing that can’t, that won’t happen. Ball don’t lie – if I may say. TL,DR
Hungarian PM Viktor Orbán redirected some 200 million EUR of taxpayer money over 10 years to fuel his ambition of raising a competitive football team in his hometown of 1,800 people. He built a 3,800-seater stadium in his backyard, expropriated football legend Ferenc Puskás’ trademarks and heritage and built up a football league where almost all clubs are owned by his trustees. His team, Puskás Akadémia FC was originally intended to be a development ground for youth players graduating from Orbán’s football academy, but eventually the team became more and more result-orianted. Finally, a roster full of foreign and non-academy players came through and finished third in the league, releasing this abomination of a team to the European football theatre. Please, knock them out asap!
READ THIS FIRST: Official Frequently Asked Questions and Answers - Important Up to Date Information You Need To Know about EIDL
\ submitted by cue378 to EIDL [link] [comments]
*LAST UPDATED 7/14**)
OFFICIAL FREQUENTLY ASKED QUESTIONS AND ANSWERS FOR EIDL
This post will be a master thread with everything we have collectively learned on EIDL
about the loan and the application process. It will be updated on an ongoing basis and will always contain the most current information. Things change frequently at the SBA with policy and you should check back on this thread on a regular basis.
Please post any questions not covered and I will respond and add them here.
INDEX OF QUESTIONS:
- How do I get in touch with customer service phone support?
- What are my chances of being approved for this loan? Can I know in advance?
- I received a decline letter for “Business activity not eligible”. What can I do?
- How is the loan amount calculated? How can I request a specific amount?
- What is the maximum loan amount?
- When will I get my portal invite?
- I finally got a portal invite and accepted and submitted an amount. My application says it is "processing", now what?
- I understand that processing really means "underwriting", but how long will it actually take? What is the normal amount of time?
- Does contacting my congressmen or senator actually work?
- I accidentally entered the wrong revenue or COGS on my application and my offer amount was lower than I expected, is it possible to change this?
- I need to change my Rev or COGS and I already accepted an amount in the portal, Tier 2 told me to do it! Is it too late?
- Who are you, cue378? Can you help me?
- My loan as obligated or already funded, I made a mistake with my COGS or revenue and I am not happy with the amount. Can I change it?
- How do I show support for the volunteers and moderators for EIDL
- I received my portal link, but when I go to create an account it just takes me to the login page. What can be done?
- I was declined for "unsatisfactory credit". What are my options?
- What documents are required? Will a loan officer contact me?
- What is the status of the Advance/Grant program? Can I still get a grant?
- What are the eligible uses of EIDL funds?
- I received a denial letter for the reason "ECONOMIC INJURY NOT SUSTAINED". What does this mean and what can I do?
- What is CAWEB and how can it help me track my loan disbursement and other status?
- I received my portal invite link, however when I go to create an account I just get the message: "The user account has not been confirmed yet. Please confirm using the link in the e-mail". What can I do?
1. QUESTION: How do I get in touch with customer service phone support? ANSWER:
The highest level of official customer service is known as "tier 2" and can be reached by calling 1-800-659-2955 and asking for Tier 2
. (NOTE: As of 5/29 the previous direct number is currently out of service)
They are unfortunately, a very limited means of support. They are able to check your application status and see the current "stage" and leave notes in your file, but unable to directly make any changes or escalate anything in a meaningful way.
Most are very nice and well meaning people but are usually poorly informed and often provided contradictory information between calls. The important thing to understand is that notes left by T2 do not actually notify a loan officer or anyone, they are simply waiting to be read if someone happens to open your file and takes the time to review the case notes. So if a T2 says they requested a change do not assume it was or will be made.
2. QUESTION: What are my chances of being approved for this loan? Can I know in advance? ANSWER:
The loan is relatively easy to get approval for by loan standards. The exact underwriting criteria the SBA is using was leaked by some helpful people (hat tip to u/Sbaleaky
) and thus you can have a good understanding what your chances are.
Underwriters look for the following:
-Minimum Credit Score of 570. They will pull from experian. Close to Vantage 3 model found on nav DOT com or TransUnion numbers on credit karma. They do NOT use FICO. Credit score is largest factor for approval for this loan and no exceptions are made for under 570.
-If economic injury was sustained based on formula described in QUESTION 4. If this is a negative number you will be auto declined. (SEE QUESTION 5) The SBA does not consider potential revenue lost or general expenses in the loan amount.
-Tax liens or tax issues are NOT a disqualifying factor or taken into consideration for COVID19 disaster.
-Business start date must be prior to 1/31/20
-open bankruptcies = Declined. Closed OK.
-Arrest for felony < 5 years = Declined
-Arrest for misdemeanor < 5 years = Declined
-Sole proprietors with delinquent child support > 60 days = Declined
-Any business principals with 50% or more ownership with delinquent child support > 60 days = Declined
-Your business must pass verification in some way that it is a valid operation. If they can find it on google it will suffice. Otherwise you may have to provide documents to prove it's a legit business.
-Your business type must not be on the list for ineligible business activity. See list on FAQ.
-All owners on application must be either US citizens or Permanent Residents. E-2 Investor visa is NOT eligible and any attempts to appeal or add a co-borrower who is a citizen or LPR will be unsuccessful. Corporations, Partnerships, and Limited Liability Entities (LLE): Alien-owned corporations, partnerships, and LLEs properly registered and licensed in the state where the disaster occurred are eligible. If any member, partner, or shareholder, owning 20 percent or more of the applicant business is in the USA they must be a qualified alien. If the alien resides outside the USA an exception may be made.
3. QUESTION: I received a decline letter for “Business activity not eligible”. What can I do? ANSWER:
EIDL has a list of restricted business categories, if your type is NOT on this list and you still received this letter you may have been improperly classified.
The following applicants are not eligible for EIDL assistance.
- 7-Eleven Franchise Stores, despite what corp office says. (advance is OK)
- Lending or Investment Concerns (except for real estate investments held for rental)
- Multi-level Sales Distribution (Pyramid) Concerns c. Speculative Activities d. Non-profit Organizations that are not considered a Private Non-Profit
- Consumer and Marketing Cooperatives. However, other cooperatives and small agricultural cooperatives meeting applicable size standards are eligible f. Not a small business concern (except for PNP of any size) g. Gambling Concerns. Concerns that derive more than one-third of their annual gross revenue from legal gambling activities.
- Casinos, Racetracks, Etc. Businesses whose purpose for being is gambling (such as casinos, racetracks, poker parlors, etc.) are not eligible for EIDL assistance regardless of their ability to meet the one-third criteria established for otherwise eligible concerns.
- Loan packagers who derives more than one-third of their annual volume from the preparation of applications seeking financial assistance from SBA
- Religious Organizations.
- Political or Lobbying Concerns.
- Pawn shops, when 50 percent or more of previous year’s income was derived 50 30 9 71 Effective Date: May 31, 2018 from interest
- Real Estate Developers. Establishments primarily engaged in subdividing real property into lots and developing it for resale on their own account.
- Life Insurance Companies.
- Concerns Engaged in Illegal Activities (as defined by Federal guidelines). p. Government-owned concerns, except for businesses owned or controlled by a Native American tribe.
- Concerns with Principals Incarcerated, on Parole or Probation: remain ineligible if the parole or probation is lifted solely because it is an impediment to obtaining a loan.
- Concerns engaged in live performances of, or the Sale of Products, Services, of a Prurient Sexual Nature.
- Businesses considered as hobbies.
- Concerns Involved in Change in Ownership Situations: Concerns which had a substantial change of ownership (more than 50 percent) after the impending economic injury became apparent, and no contract for sale existed prior to that time are ineligible .
4. QUESTION: How is the loan amount calculated? How can I request a specific amount? ANSWER:
There is no way to request a specific amount, the eligible amount is calculated automatically by formula based on your inputs. There are three known formulas:
- Standard Small Business: Revenue minus COGS divided by 2 minus advance, subject to maximum of 150K
- Not for Profit: 6 months operating expenses year prior to 1/31/20
- Business that collects rental property income, your offer is calculated by lost rents due to the disaster, not the standard formula. If your offer is lower than expected you may have been wrongly classified into this formula.
- Agricultural businesses: 6 months operating expenses year prior to 1/31/20
If the formula results in a negative number or less than your advance you will be declined for "ECONOMIC INJURY NOT SUSTAINED"
5. QUESTION: What is the maximum loan amount? ANSWER:
As of last update it is currently 150K cap. This will not change anytime soon and there will be no way to request more at present. The only way to avoid the cap is if your loan was already being obligated prior to the change by the SBA from 500K. If I hear anything new on this it will be updated here.
6. QUESTION: When will I get my portal invite? ANSWER:
Portal invites are a fully automated process and not strictly sequential but follow general group patterns. If you see someone that has a higher number than you get a portal invite it does NOT mean you were "passed over".
7. QUESTION: I finally got a portal invite and accepted and submitted an amount. My application says it is "processing", now what? ANSWER:
This is when the actual loan process starts and underwriting begins. Your application will be assigned a loan officer for review using the criteria listed in question 2. The exact process is as follows (hat tip u/sbaleaky
) with the actual stages from start to finish. Keep in mind that once you accept in the portal a number of things are going on behind the scenes, which is why "processing" can take a great deal of time. Once you see a loan amount in your portal, this is NOT an approved offer. It is simply a potential amount you are eligible for based on the stated formula if you pass underwriting.
- Initial Call Needed (credit not ran)
- Credit Pulled (waiting for automated portal invitation, this is by far the longest part of the process)
- Quoted (received portal invite with an eligible amount)
- Offer Accepted (you confirmed and submitted an amount in the portal)
- Submitted Deal (waiting to be assigned to a Loan Officer)
- LO assigned and makes decision: Declined, Duplicate, Approved
[The following takes place behind the scenes and will not reflect in your portal, but will still say "processing"]
Note: The exception to this process is that some applications which are considered easy (based on unknown factors) to approve are subject to full automation and may go straight to approval bypassing the above steps. This only happens in rare cases.
- Approved: T2 Rep can now see your loan is approved on their screen. This means the Loan Officer has approved the deal and it is now going to the Senior Loan Officer. If the SLO does not approve the deal then it will go to declined.
- Obligating: SLO known as a "team leader" reviews the work of the first LO to ensure everything was done correctly. Once they sign off on the deal the loan is now fully approved. The loan is being sent to the E-Tran system to receive a loan number. The loan has not yet received a loan number from E-Tran while obligating. This is the most common phase where hang ups in "processing" can error called "error in obligating". Usually due to small technical issues or errors in your information that need to be sorted.
- Obligated: A loan number from E-Tran has been obtained and now closing documents can be drafted and sent to the borrower. This is when your portal would change from "processing" to approved. There may be a delay between when your offer is obligated to when it actually shows approved. I have seen it happen in as fast as 10 minutes or as long as 12 hours. You can also see approved but not have docs available. Docs will not show up until you get an email with the approval. The delay on this can be a few hours or more.
- Funding: Docs are signed and the loan is automatically moved to funding stage to have treasury issue an ACH. This happens very quickly and you should see the ACH sent right after with the funds arriving in 24-48 hours on banking days. **NOTE** Currently as of 6/10 we are seeing delays in funding of up to a week or even more, as it is very backed up in the queue.*\* At this point you can track the disbursement with your loan number from the docs using CAWEB to see if the ACH has been sent. See CAWEB question.
- Funded: Process complete, funds are successfully in your bank account. Congrats
You may also see a status that says, "On-Hold" Amount $0: This status typically is when your loan was temporarily declined and is still in the reconsideration department pending possible reconsideration approval.
8. QUESTION: I now understand that processing really means "underwriting", but how long will it actually take? What is the normal amount of time? ANSWER:
The amount of time it is normal for your portal to say "processing" is highly variable as a hundred different factors are involved behind the scenes. As of 6/10 we are seeing extended delays in processing time and obligating stage specifically. The average we are seeing is around 14-16 days total in processing.
If your application has been in underwriting for greater than 14 days it may merit investigate, but not necessarily indicate a problem with your chances of approval. Do NOT panic if it seems "stuck" with no communication from anyone. This is normal.
9. QUESTION: Does contacting my congressmen or senator actually work? ANSWER:
Yes, the SBA treats congressional inquiry very carefully and will flag and sometimes white glove your application. Often they will assign a special case worker during the process. The important thing is when your local congressional office reaches out they do NOT contact the local district SBA but this email: [[email protected]
). This email is NOT for use by applicants but only official government purposes.
10. QUESTION: Help! I accidentally entered the wrong revenue or COGS on my application and my offer amount was lower than I expected, is it possible to change this? ANSWER:
Yes, but two factors are important:
- You should NOT have already accepted an amount and submitted for processing in the portal. *If you already did see note below.
- You have documentation to backup the changes such as Federal Tax Returns 2018 or 2019 or P&L Statements. Tax returns are strongly preferred if available.
****The important thing here is DO NOT
accept the offer in the portal if you need to revise your numbers.**** *IF YOU HAVE ALREADY ACCEPTED THE OFFER:
Call tier 2 support as soon as you possibly can and ask them to make the following note in your file: Loan Officer, DO NOT approve this file without calling me, the applicant, because my (revenue or COGS) figures are wrong. I have supporting docs to make the changes. Please contact me ASAP. If you meet the above two criteria
contact me via email at [[email protected]
) with your Reddit username in the subject and put COGS REVISION REQUESTED in the subject line. I will respond and give you private advice on the matter.
11. QUESTION: I need to change my Rev or COGS and I already accepted an amount in the portal, Tier 2 told me to do it! Is it too late? Answer:
Unfortunately tier 2 is currently giving absolutely terrible advice in this situation. They are telling people to accept the offer in the portal to speak with a loan officer to make the revision. The problem is that once you accept you set the process in motion and then it gets obligated by treasury it is impossible to adjust. The proper time is prior to accepting. Often times loan officers never are needed, never reach out or even read these notes. I see it every day and people are stuck its the "kiss of death" advice. If you already accepted you may have time but would need to work quickly from date of submit.
UPDATE: As of 6/15 there is now a way to fix this. See question 13.
12. QUESTION: Who are you, cue378? Can you help me? ANSWER:
I am a small business owner who is a full time volunteer offering to assist in the EIDL process. I have experience assisting hundreds of other business owners in applying for and getting approved. I am sharing the information, strategies, and general knowledge I have gained over the course of 2 months. I do not work at the SBA nor do I have any affiliation with the SBA.
Do to an extreme flood of requests for help, I may not be able to answer PM's or chat requests. I have setup an email you are welcome to contact me on, but due to the volume I may not be able to respond right away or at all. My email is [[email protected]
Some people have asked how they can support my efforts. While I do not ask for donations, our subreddit founder decided to setup a tip jar in case people want to show their support. To be clear I do not ask for donations for my help, but if you decide to spare anything I do appreciate it greatly. The tip jar can be found HERE
13. QUESTION: My loan was obligated, already funded, or I already accepted the amount in the portal. I made a mistake with my COGS or revenue and I am not happy with the amount. Can I change it? ANSWER
: As of 6/12 loan modifications are now being allowed. You can contact [[email protected]
) and request a "Loan Modification increase". It is a 3-4 week process that requires documentation. A second loan will be given for the difference from the first one. It will be processed as a 20xx series loan in the old system/portal. For more details email me. Note if you have not yet accepted the offer the normal process is much faster.
14. QUESTION: How do I show support for the volunteers and moderators for EIDL ANSWER:
For supporting Cue378, there is a tip jar listed above. If you wish to show support to our community moderators, a separate tip jar can be found HERE
. Proceeds for this jar will be split between u/innocul8
. Donations in this jar do NOT go to Cue. Any amount is very appreciated. It takes a great deal of time and effort run the community and they are putting in a near full time effort.
15. QUESTION: I received my portal link, but when I go to create an account it just takes me to the login page. What can be done? ANSWER:
Follow these steps:
- Open the email to create your portal account. Right click on the green button that says, "create your account". Click "copy link address" or "copy hyperlink" depending on your browser.
- Use a VPN service, such as NordVPN or ProtonVPN (free), to connect to a VPN server in different state than yours, preferably on the opposite coast you are located.
- Open an incognito browser window, or private browser session if on firefox.
- Right click on the URL/web address field and paste the link you copied. Hit enter.
- You should then successfully be able to create a login, enter the portal, and accept your offer.
Alternately if you don't have a VPN or want to use one you can use a mobile phone to login incognito, with WiFi off on a cellular network, to create the account.
16. QUESTION: I was declined for "unsatisfactory credit". What are my options? ANSWER:
You have a few options.
- You can bring your vantage 3 score over 570 by paying down cards, when you are ready you can request the SBA re-pull your report and reactivate your account via [[email protected]](mailto:[email protected])
- You can request to add a co-borrower that has a higher score than 570 with no open bankruptcy and run their credit to reactivate your application.
You can expedite your request for a co-borrower by having this ready to go. You can also do this preemptively if you expect to be declined for credit. The co-borrower does NOT have to be involved with the business and can be anyone. The form is available here: SBA Form 3501 - Adding Co-Borrower
Only fill out the following:
Line #14 - Add the co-borrowers information under owner #1
Line #15 - Answer question for co-borrower.
Line #16 - Answer question for co-borrower.
Sign page 10, co-borrower signs.
Ownership percentage can be 0% if co-borrower is not part of business.
Attach and send with your co-borrower request to [[email protected]
) with your application number.
NOTE: If you have an urgent need to have your co-borrower request expedited, please email me at [[email protected]
) with the subject line: "ADDING CO-BORROWER REQUESTED URGENT" I will respond within 24 hours.
17. QUESTION: What documents are required? Will a loan officer contact me? ANSWER
: In most cases no documentation is required and everything is self certified. In some cases a LO will need to contact you to clarify some things about your business or request specific documents. In most cases you will never be contacted by or communicate with a loan officer.
18. QUESTION: What is the status of the Advance/Grant program? Can I still get a grant? ANSWER:
As most of you already know, the EIDL Advance/Grant program has ended and the full 20 billion in funding for the advance has been exhausted. The option has been removed from new applications. Getting funding for the advance as a new applicant at this time will not be possible.
For older applications please see this post for more information: https://www.reddit.com/EIDL/comments/hr3l41/eidl_news_714_update_regarding_the_current_status/
19. QUESTION: What are the eligible uses of EIDL funds?
ANSWER: These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. What are all the possible uses of the funds? The wording ‘obligations that are unable to be met due to lack of revenue’ seems to be a catch all, but how much so? The EIDL working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits or for expansion.
20. QUESTION: I received a denial letter for the reason "ECONOMIC INJURY NOT SUSTAINED". What does this mean and what can I do? ANSWER:
This occurs when the numbers entered on your application for COGS are greater than your revenue. The SBA calculates economic injury based on the formula in question number 4. You can also be denied for this reason if the resulting number is less than your advance amount. Please note that the SBA is only taking into account revenue earned prior to the disaster date of 1/31/20 to calculate your economic injury. If your only revenue was earned after that date as a newer business you may not qualify.
If the numbers on your application were correct, you would not be eligible for an EIDL. If you made an error you can request an amendment and request reactivation of your application. I can assist with this process. You need at minimum Profit and Loss statements for the period 12 months prior to the disaster starting 1/31/20. Email me at [[email protected]
) with the subject: COGS DENIAL REVERSAL REQUESTED. Include your Reddit username. I will respond with instructions on how to file this amendment.
21. QUESTION: What is CAWEB and how can it help me track my loan disbursement and other status? ANSWER:
You can use the Capital Access Finance System to track your EIDL after your documents have been signed and submitted through funding. It allows you to see disbursement status and other details related to your loan. ****Hat tip to u/tahoechick36 for this amazing write up*\
Using the Capital Access Finance System to track your EIDL after your documents have been signed and submitted through funding.
Visit caweb.sba.gov or click the link at the top of EIDL
Setting up an account:
You need a SBA Loan # to set up an account - for EIDL it appears on the first page of your documents, in the upper left hand area, and says "SBA Loan # XXXXXXXXXX.”
SBA loan #'s are 10 digits. Your Application # will NOT work for account set-up.
If you have a PPP Loan, you can use your SBA # for this loan to set up an account. Sometimes this # is easy to figure out, sometimes not. That has to do with an intermediary (like your bank) being involved, but if you can track down an actual SBA Loan #, you can go ahead and get registered without your EIDL loan number.
- On the home page click on "Not Enrolled?" in the top left. This takes you to a screen to enter info. You may come to hate this screen, this process is very finicky.
- Look at the rules for creating a User ID and Password by clicking on "Rules..." next to the fields.
- Write your exact ID & password down somewhere - if you ever get locked out and call the SBA for help, they are going to tell you that Borrowers are not supposed to be able to access CAFS CAWeb. Apparently we still can, so don't make this a big deal or maybe that will change!
- For user type - select "borrower" from the drop down menu.
- Fill in the highlighted fields with your info. Click on the "ZIP LOOKUP" button after you enter your zip code. This auto populates some other boxes, and registration won't work if you don't do this.
- For the country code in the phone number section enter "1" for the United States.
- Financial commitment ID is your Loan # - 10 digits.
- If you don't have a landline, it has been reported that just entering your mobile number in both fields works. You will have to select 3 of their security questions, enter the Captcha image info, then hit "submit" at the bottom.
If it didn't like the info you have entered, it will give you an error message for what part it didn't like, and you will have to try again, which requires re-entering quite a bit of the information. It's a pain.
But if it takes it, you're in! There may be a verification step now as well.
Finding your loan on CAWeb
- On the caweb homepage, login (if you aren't already), it will be personalized and show your name. You have to scroll down and check the "Agree to Terms" box when you are logging in.
- Click on "Borrower" in the top left, then click on "Borrower Search". This should take you to your "Loan List" showing the loan #, borrower name, loan type, amount, and loan status.
- PPP loans typically appear as "Active Un-Disbursed" - if your PPP is already funded don't worry about that. Your EIDL will show up as "Disbursed Current" if funds are on their way. It may say something else if you look immediately after you send back you Docs, but it should change pretty quickly. Logging out and back in again will sometimes refresh the status. Loan status will say "Active Un-Disbursed" until Treasury send the funds to your bank, then it changes to "Disbursed Current".
- It depends on your bank when they post in your account (same day, next day, time).
- If your banking info didn't verify, the transaction will fail to go through, and the status will revert.
- If you are not funded within 3-4 banking days, there is likely a problem - check your info in your portal, call the SBA, and then email Cue if needed.
- If you click on your loan# in the list, it opens up a page with details about your loan.
- There's even a box at the bottom to check if you want electronic account statements only, but if you check that, a warning pops up about "all attached to this loan will be affected by this change", so we recommend not selecting that option just yet.
22. QUESTION: I received my portal invite link, however when I go to create an account I just get the message: "The user account has not been confirmed yet. Please confirm using the link in the e-mail". What can I do? ANSWER:
This is a known bug/error normally relating to either getting the invite ahead of schedule or other missing information in your file that would prevent the account creation from moving forward. Tier 2 cannot solve this and it need a special approach to resolve. Please email me with the subject line: "USER ACCOUNT HAS NOT BEEN CONFIRMED". Include your reddit username in the email somewhere. My address is [[email protected]
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