Quote:
Originally Posted by ASAP
virtually all businesses met the forgiveness doctrine because most businesses didn't suffer any sort of definable loss... it was completely gamed. Yes, there were businesses that truly needed the money and that was fine... otherwise, it was setup to be games and effectively rob taxpayer money. I literally spoke to folks giving this money out... oh and an origination fee for banks to do this... that was a wonderful idea.
Also... if you recall... they were intially classified as official loans and were later out of nowhere free money in the form of forgiveness... i think that was done so folks like me would put blinders on.
|
They were not forgiven out of nowhere. They were designed like that from Day 1. You are confusing PPP loans with EIDL loans. EIDL loans are being repaid and have not been forgiven.