Re:SoftBank to write down WeWork by $6.6B, compounding portf...
by onlyrealcuzzo on Thursday April 30, 2020 @10:52AM
(#23031441)
The loans are forgiveable if used for salaries and rent and interest on existing debt, as long as you hire back or keep 90% of your staff at 90% of wages.
So any company can say that they used 100% of the money to pay for the approved things for 8 weeks, and that amount of money is forgiven.
Most of the loan is like free money to most companies.
So any company can say that they used 100% of the money to pay for the approved things for 8 weeks, and that amount of money is forgiven.
Most of the loan is like free money to most companies.