Employees working from home during the coronavirus pandemic claimed some outlandish expenses this year, including pricey exercise bikes, facelifts and private jets.
Emburse, an expense management software company, released a compilation Wednesday of some of the craziest expenses it has seen claimed this year, some of which were actually approved. That included $1,895, which was approved as a contribution for an employee's Peloton Bike under the explanation of “for health and wellness.” On the other hand, a $7,600 expense claim for a facelift was submitted under the category of “repairs and maintenance” but was rejected, despite the pressing need to look one’s best during a Zoom meeting.
A properly deployed combination of asset-based lending, commercial loans and investment banking is imperative in these circumstances.
Tokenization and buy buttons began, in part, as ways to calm the security concerns of online shoppers who were wary of moving away from plastic. They’re now becoming a way to keep a health and economic crisis from turning into a security problem as in-store checkout quickly gives way to apps and websites.
Charlie Perer is co-founder and head of originations at SG Credit Partners Inc. (SGCP). In 2018, Perer and Marc Cole led the spin-out of Super G Capital’s cash flow, technology and special situations division to form SGCP.
Perer joined Super G Capital LLC in 2014 to start the cash flow lending division. While there, he established Super G as a market leader in lower middle-market second lien, built a deal team nationwide and helped generate about $250 million in originations.
Prior to Super G, Perer co-founded Intermix Capital Partners LLC, an investment and advisory firm focused on providing capital to small-to-medium sized businesses.
He can be reached at charlie@sgcreditpartners.com.
Some expenses weren’t for working from home, but more about getting out of the house safely. An expense claim for a private jet charter costing over $20,000 was submitted and approved under the explanation of “required to limit COVID exposure for international shoots.” Another travel-related expense claim was $2,500 for a helicopter ride, which was not approved.
The $79 expense claim for a dog crate could perhaps be used for travel at some point when that's safer, but in these times it was more plausibly to provide "crate training [for] a new COVID puppy to not run into Zoom meetings."
Below is an infographic produced by Emburse showing this and several other head-scratching claims:
