Re:Day trader army loses all the money it made in meme-stock...
by brightball on Monday May 09, 2022 @08:44PM
(#31321905)
For the initial loan to get it issued quickly, that’s correct.
To have the loan forgiven, you had to submit documents at tax time to verify it or it became a low interest loan that had to be paid back.
PPP was one of the best ideas that came out of locking down the entire country because otherwise a tooooon of people would have been laid off immediately. Instead, even people who couldn’t do any work at all due to lack of child care were able to be paid, maintain insurance and benefits. They had to act so quickly.
To have the loan forgiven, you had to submit documents at tax time to verify it or it became a low interest loan that had to be paid back.
PPP was one of the best ideas that came out of locking down the entire country because otherwise a tooooon of people would have been laid off immediately. Instead, even people who couldn’t do any work at all due to lack of child care were able to be paid, maintain insurance and benefits. They had to act so quickly.