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Dec 30th, 2023
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 Re: Where Is Bass Boat Market Headed?
[Re: WAWI]
#15104952
06/18/24 04:19 PM
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Joined: Dec 2005
Posts: 4,203
ogles824 (aka Lakewaydr50)
TFF Team Angler
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TFF Team Angler
Joined: Dec 2005
Posts: 4,203 |
I did talk to one dealer around the time COVID had really locked in on our economy and they were selling most of their boats for cash and selling a lot of them. Where was the money coming from? Business owners were getting those grants and loans to stay afloat from the federal government; I think they called them PPP grants/loans from the Small Business Administration and a lot of those loans went to make purchases like boats and RV's and such.  shocking lol 
2012 ZX200 Skeeter 2012 Yamaha 200 SHO Isaiah 40:31 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles, they will run and not grow weary, they will walk and not be faint. Proud student of the Pro Staffer. https://www.youtube.com/watch?v=TzwF72B2F2w&t=14s
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Re: Where Is Bass Boat Market Headed?
[Re: WAWI]
#15104975
06/18/24 04:43 PM
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Joined: Nov 2014
Posts: 23,973
SteezMacQueen
TFF Guru
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TFF Guru
Joined: Nov 2014
Posts: 23,973 |
I did talk to one dealer around the time COVID had really locked in on our economy and they were selling most of their boats for cash and selling a lot of them. Where was the money coming from? Business owners were getting those grants and loans to stay afloat from the federal government; I think they called them PPP grants/loans from the Small Business Administration and a lot of those loans went to make purchases like boats and RV's and such. shocking lol Which means the boats are paid for….and ain’t gonna get sold cheap.
Eat. Sleep. Fish.
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Re: Where Is Bass Boat Market Headed?
[Re: SteezMacQueen]
#15105178
06/18/24 08:55 PM
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Joined: Apr 2021
Posts: 859
wabash2015
OP
Pro Angler
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OP
Pro Angler
Joined: Apr 2021
Posts: 859 |
I did talk to one dealer around the time COVID had really locked in on our economy and they were selling most of their boats for cash and selling a lot of them. Where was the money coming from? Business owners were getting those grants and loans to stay afloat from the federal government; I think they called them PPP grants/loans from the Small Business Administration and a lot of those loans went to make purchases like boats and RV's and such. shocking lol Which means the boats are paid for….and ain’t gonna get sold cheap. The amount of PPP fraud that went on was incredible. I wouldn't be too shocked if the bass boat market profited immensely off of it since just about every other market did.
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Re: Where Is Bass Boat Market Headed?
[Re: wabash2015]
#15105210
06/18/24 09:24 PM
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Joined: Jun 2017
Posts: 2,490
Lone_Wolf
Extreme Angler
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Extreme Angler
Joined: Jun 2017
Posts: 2,490 |
The PPP payments data is public, you'd be shocked probably what some next door got from it. We got a neighbor who has a farm next to ours, put every one of his kids down as employees, no wonder they were driving around in new pickup trucks not long after. Shameful.
Last edited by Lone_Wolf; 06/18/24 09:24 PM.
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Re: Where Is Bass Boat Market Headed?
[Re: wabash2015]
#15105312
06/18/24 11:20 PM
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Joined: May 2007
Posts: 41,066
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 41,066 |
I did talk to one dealer around the time COVID had really locked in on our economy and they were selling most of their boats for cash and selling a lot of them. Where was the money coming from? Business owners were getting those grants and loans to stay afloat from the federal government; I think they called them PPP grants/loans from the Small Business Administration and a lot of those loans went to make purchases like boats and RV's and such. shocking lol Which means the boats are paid for….and ain’t gonna get sold cheap. The amount of PPP fraud that went on was incredible. I wouldn't be too shocked if the bass boat market profited immensely off of it since just about every other market did. No fraud, just had to make the numbers work then manage to stay profitable or break even during shut downs, then you basically got to keep it tax free.
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Re: Where Is Bass Boat Market Headed?
[Re: BCB]
#15105597
06/19/24 11:37 AM
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Joined: Dec 2008
Posts: 16,566
grout-scout
TFF Guru
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TFF Guru
Joined: Dec 2008
Posts: 16,566 |
That can piss a person off!
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Re: Where Is Bass Boat Market Headed?
[Re: Lone_Wolf]
#15105704
06/19/24 01:06 PM
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Joined: Feb 2002
Posts: 3,000
Txduckhunter
TFF Team Angler
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TFF Team Angler
Joined: Feb 2002
Posts: 3,000 |
The PPP payments data is public, you'd be shocked probably what some next door got from it. We got a neighbor who has a farm next to ours, put every one of his kids down as employees, no wonder they were driving around in new pickup trucks not long after. Shameful. Company my wife works for got millions and never paid a single penny to employees that had to work through it. (wife works in healthcare)
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Re: Where Is Bass Boat Market Headed?
[Re: wabash2015]
#15105717
06/19/24 01:19 PM
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Joined: Jul 2011
Posts: 303
rickys
Angler
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Angler
Joined: Jul 2011
Posts: 303 |
So what was the deal with these loans; did they have to be paid back? Just no interest type loans?
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Re: Where Is Bass Boat Market Headed?
[Re: rickys]
#15105785
06/19/24 02:16 PM
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Joined: Apr 2021
Posts: 859
wabash2015
OP
Pro Angler
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OP
Pro Angler
Joined: Apr 2021
Posts: 859 |
So what was the deal with these loans; did they have to be paid back? Just no interest type loans? They did not have to be paid back. Hundreds of thousands of people were opening multiple LLCs to claim free money because the federal government included absolutely ZERO oversight on this. You had realtors claiming millions of dollars and using it to buy boats, cars, real estate, etc.
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Re: Where Is Bass Boat Market Headed?
[Re: wabash2015]
#15105815
06/19/24 02:24 PM
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Joined: Jun 2020
Posts: 11,913
grandbassslayer
TFF Guru
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TFF Guru
Joined: Jun 2020
Posts: 11,913 |
I did talk to one dealer around the time COVID had really locked in on our economy and they were selling most of their boats for cash and selling a lot of them. Where was the money coming from? Business owners were getting those grants and loans to stay afloat from the federal government; I think they called them PPP grants/loans from the Small Business Administration and a lot of those loans went to make purchases like boats and RV's and such. shocking lol Which means the boats are paid for….and ain’t gonna get sold cheap. The amount of PPP fraud that went on was incredible. I wouldn't be too shocked if the bass boat market profited immensely off of it since just about every other market did. It wasn’t fraud. You could use the PPP money for payroll, if that coincidentally freed up other funds then you had money to spend. The requirements to get money were fairly vague- you had to believe Covid was a threat to your business. And no I didn’t buy a boat with Covid money…
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Re: Where Is Bass Boat Market Headed?
[Re: wabash2015]
#15105821
06/19/24 02:26 PM
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Joined: Jun 2020
Posts: 11,913
grandbassslayer
TFF Guru
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TFF Guru
Joined: Jun 2020
Posts: 11,913 |
So what was the deal with these loans; did they have to be paid back? Just no interest type loans? They did not have to be paid back. Hundreds of thousands of people were opening multiple LLCs to claim free money because the federal government included absolutely ZERO oversight on this. You had realtors claiming millions of dollars and using it to buy boats, cars, real estate, etc. Well that was fraud if they were doing it like that. You got the PPP loan forgiven based on 6 weeks worth’s of payroll for your employees not yourself if I remember correctly. You had to keep them employed for an additional amount of time, a few months, can’t remember exactly.
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Re: Where Is Bass Boat Market Headed?
[Re: Txduckhunter]
#15106343
06/19/24 11:12 PM
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Joined: Dec 2006
Posts: 519
BCB
Pro Angler
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Pro Angler
Joined: Dec 2006
Posts: 519 |
The monies had to be used for wages or bonuses to keep employees working and compensated. They did not have to make an independent payment. It was intended to tide businesses and employees through it during the pandemic. Company my wife works for got millions and never paid a single penny to employees that had to work through it. (wife works in healthcare)
Last edited by BCB; 06/19/24 11:13 PM.
BCB
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Re: Where Is Bass Boat Market Headed?
[Re: Txduckhunter]
#15106374
06/19/24 11:39 PM
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Joined: Jun 2020
Posts: 11,913
grandbassslayer
TFF Guru
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TFF Guru
Joined: Jun 2020
Posts: 11,913 |
The PPP payments data is public, you'd be shocked probably what some next door got from it. We got a neighbor who has a farm next to ours, put every one of his kids down as employees, no wonder they were driving around in new pickup trucks not long after. Shameful. Company my wife works for got millions and never paid a single penny to employees that had to work through it. (wife works in healthcare) They all worked for free?
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