3 ms·
As long as that person had eligible expenses to have the "loan" forgiven, it doesn't look like fraud to me. It looks like the program doesn't care that you woul
by ndriscoll 4y ago
As long as that person had eligible expenses to have the "loan" forgiven, it doesn't look like fraud to me. It looks like the program doesn't care that you would have spent that money on payroll anyway, so by paying part of your expenses, the money you would've spent becomes pure profit.
For reference, the documentation requirements that I see talk about demonstrating your expenses, but I don't see anything about demonstrating you actually needed that money and couldn't pay those expenses yourself. Was that a requirement?
https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program/ppp-loan-forgiveness https://www.sba.gov/funding-programs/loans/covid-19-relief-o...