The Billionaire Founder Of Nikola Motors Explains Why His $3.3B Company Needs Small Business Rescue Cash

  • 📰 Forbes
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 53%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Nikola Motors billionaire CEO Trevor Milton explains why his $3.3 billion company hasn't returned its small business rescue cash

. In the aftermath, came a public backlash.

“There's a difference between a high valuation and having cash,” Brady said in a telephone interview. “We are a pre-revenue company with a lot of expenses… Our burn rate is high.” Despite its high valuation, Nikola has a small staff of about 300 workers, many of them skilled and highly paid engineers, but it doesn’t yet generate substantial revenue revenue.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Give the fucking money back, nikolatrevor.

elonmusk look that

75% must be used for payroll, 25% can be used to pay vendors, utilities, rent, etc. Adhere to that and it’s free money.

when Tesla took over...

To make a mockery of our pathetic political system and our elitist favoritism

Completely disgusting. Covid19 doesn’t affect him nearly as much as others.

PPP recipients have to attest that they don't have access to other sources of liquidity. I think Nikola will have to return the $s.

A pitiful 4 million would sustain a 3 billion company. Success.

the nikola and tesla.. seems legit

He’s disgusting

Lies, that's clearly Chandler Bing.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Several public companies who took small business rescue loans say they are not giving back the cashSix companies contacted by CNBC who took the loans said they had no plans to return the funds. Uhhhhhh Sucker... Why should they, they didn’t break the law or spirit of it.
Source: CNBC - 🏆 12. / 72 Read more »

Former SBA employees: Why it's hard for small businesses to get loans - Business Insider'Companies that need the money can't get it:' Former Small Business Administration officials say that the disaster loan application process has always been stacked against small businesses
Source: BusinessInsider - 🏆 729. / 51 Read more »

After Shake Shack controversy, Treasury says public companies should repay loansThe new guidance came as Congress approved another round of funding for small business loans. Was the confusion they thought that if they were SBA qualified because they are just multi-million dollar companies instead of multi-billion dollar companies? Do you think liberals can muster up the courage to go out and support government designated 'non-essential' businesses? Right now it's okay for liberals to shop at virus-free dispensaries, liquor stores, grocery stores, walmart/costco, gas stations, home improvement stores etc. They are getting caught Dorian the swamp my ass
Source: ABC - 🏆 471. / 51 Read more »

Some U.S. companies will keep small business loans, defying backlashSeveral publicly listed companies worth hundreds of millions of dollars said on Friday they had no plans to return funding they received under a U.S. government program providing emergency loans to small businesses, even though some of their peers have started to do so. Government fucks things up all the time, yet people out there wanting Government to run every aspect of our lives... GTFO! SHAME THEM SHAME ...MiMedx Group Inc (Digimarc Corp (DMRC.O), and ZAGG Inc (ZAGG.O).....shame !!!!!
Source: Reuters - 🏆 2. / 97 Read more »

Publice companies got $550M of loans intended for 'small businesses' - Business InsiderAshford Hospitality Trust claimed the largest PPP loan — $30.1 million — followed by Meritage Hospitality Group, which claimed $29.1 million. Maybe the owners are Ugandans. 😂😂😂😂 The way Western media can brand us as professional corrupt people, now you know, universality 🐷🐷🐷🐷🐷 Scroll their names at bottom of tv screen 📺
Source: BusinessInsider - 🏆 729. / 51 Read more »