Quote:
Originally Posted by mintacular
Interesting side-note: The PPP loans were supposed to repaid (hence being loans) yet it appears all of them were just forgiven? Doesn't seem right to me, clearly many who did not need it took advantage of this free cash
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They were always planned, and even advertised to be forgiven, at least for borrowers that met the criteria for forgiveness. When Congress passed the law authorizing them, the law specifically provided for forgiveness if the conditions were met.
They were merely documented as loans to give the government the ability to get the cash back if the borrower did not meet the criteria.