3 ms·
Wasn't the entire point of the PPP scheme to give away money to be used for payroll? I didn't use it, but it seemed to me like from the outset that it was desig
by sokoloff 4y ago
Wasn't the entire point of the PPP scheme to give away money to be used for payroll? I didn't use it, but it seemed to me like from the outset that it was designed to give away money, notionally documented as a loan, but one which would be forgiven if used to provide payroll continuity to employees. (In other words, documented as a loan so they could claw it back legally if you didn't use it for payroll or other approved purpose, but if used for payroll, it was a loan in fictional name only.)
I don't think that was a mis-use of the system, but rather the intended use of it. (We can argue whether it was a good or bad idea, but it plainly seems within the bounds of the program as designed/intended.)