Weren't loans taken out as a way to avoid taxes pre-2018? You could have profits stored offshore tax-free and take a loan out in the US that generated money for

Weren't loans taken out as a way to avoid taxes pre-2018? You could have profits stored offshore tax-free and take a loan out in the US that generated money for your US operation without incurring taxes. These loans are very low interest rates and companies still don't have incentives to pay them off.