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No, they're not really loans, they are basically free money. They only have to be paid back if you end up firing the workers you were supposed to keep employed
by bananabreakfast 6y ago
No, they're not really loans, they are basically free money.
They only have to be paid back if you end up firing the workers you were supposed to keep employed with the loan. If they stay employed then your "loan" is fully forgiven.
- pkulak 6y agoThat's what I mean. You have to explicitly use them for payroll within 2 months of acceptance, and retain 75% of your staff, and a lot of companies are not bothering with that and just taking the low-interest loan. A loan is still something, but it's not even in the same area code as a grant.
- digitaltrees 6y agoThat’s not really free money. It’s money earmarked for employees or to maintain some basic infrastructure so employees have a place to work.