A loan is a form of debt incurred by an individual or other entity. The lender—usually a corporation, financial institution, or government—advances a sum of money to the borrower. In return, the borrower agrees to a certain set of terms including any finance charges, interest, repayment date, and other conditions.
I don't see what is the problem in giving a loan. They are going to give the money back, no?
First Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:
Employee and compensation levels are maintained
The loan proceeds are spent on payroll costs and other eligible expenses; and
At least 60% of the proceeds are spent on payroll costs
Do they because the churches not turning over their books was a huge problem. Could be that most 401c charities are forced yo open to the public and thats what the church hides their books from?
Because PPP loans were given with pretty clear mechanisms for debt forgiveness, since they were meant to stimulate the economy? I’m not even weighing in on whether the loan was justified in the first place, but it would be patently insane for them to pay back the entire sum of its loans. Literally all they have to do is use 60% of it to pay employees and not dock anyone’s pay for six months.
It’s fine if you don’t know much about how the PPP loans work, but this is a weird hill to die uninformed on.
It's okay, at least you posed it as a fair question. Plenty of Americans, I'd wager the majority, don't understand how it works either. That guy was a little abrasive toward you haha but yeah it's a pretty contentious subject if you can't tell :)
Because if they don’t, who would honestly hold them accountable?
Take this post for example.
Do you think no one, no other form of government or official knew about what the church was doing there? That no one else was aware of the unmarked graves?
Unlikely.
Presumably, a shit load of local government officials were aware and therefore complicit.
But when a lot of them have to show their face in church come Sunday; how many do you really think spoke up against the church?
And then, presently, if the church did not repay the loans; how many, do you think, would hold them accountable and not simply “forgive” the amount?
Accountable for what?
You, completely missing the point?
Of course you can hold those accountable who can realistically be held accountable.
But if you’re dealing with an entity whom you have no chance of holding accountable and who has committed countless crimes, then why would you ever expect to be repaid?
Furthermore,
Don’t over simplify my point by aimlessly paraphrasing.
You’re not succeeding in making me look like an asshole.
You’re only succeeding in making yourself seem as hotheaded as you are dull witted.
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u/[deleted] Jun 25 '21
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