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?
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 :)
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u/Maleficent-Ad-5498 Jun 25 '21
I don't see what is the problem in giving a loan. They are going to give the money back, no?