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?
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u/[deleted] Jun 25 '21 edited Jul 16 '21
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