PPP Anecdote

July 9, 2020 |

"I heard some people are re-incorporating their business under a different name to avoid repaying PPP loans" - Anonymous Source

As I recall the last time we had big loans programs like TALF and TARP they were eventually paid off with interest.  Though the size would seem trivial now, in 2007/8 there was a fair amount of debate in congress and rules set up to at least make a good faith effort for repayment of tax payer funds.  This time around with PPP and other SBA loans there was almost no debate and the vague payment/forgiveness language makes it almost certain a good portion >50% will never be repaid.  Maybe that is the intent.  Add in outright fraud of 2% (my estimate) on 1 trillion is another $20 billion.  A lot of cash searching for a home, even if it a terrible misappropriation.


WordPress database error: [Table './dailyspeculations_com_@002d_dailywordpress/wp_comments' is marked as crashed and last (automatic?) repair failed]
SELECT * FROM wp_comments WHERE comment_post_ID = '12781' AND comment_approved = '1' ORDER BY comment_date




Speak your mind


Resources & Links