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The CARES Act “loan” is structured as a loan in order to (a) enforce the use of funds for payroll expenses, and (b) use existing banking infrastructure. IIRC if
by bitcurious 7y ago
The CARES Act “loan” is structured as a loan in order to (a) enforce the use of funds for payroll expenses, and (b) use existing banking infrastructure. IIRC if you keep 80% of staff, the loan is forgiven.
That said, the PPP ran out of funds today, so not all businesses are getting saved.
- Vinnl 7y agoAh right, then that specific measure sounds rather similar (except for the running out, maybe).