Why were PPP loans called loans if nobody was expected to pay them back, instead of PPP handouts?

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I am not commenting on whether or not they should have been. I am not interested in tying them back to discussion of any other loans or loan forgiveness.

Why call them loans if they are not?

In: Economics

34 Answers

Anonymous 0 Comments

What the loans were actually spent on weren’t audited unless they were over i think 200,000. Lots of businesses in my town that weren’t struggling at all due to covid got new trucks and equipment. Meanwhile I didn’t take a payout because covid didn’t effect my business. I felt like an idiot after seeing nearly every other business in town take one including law offices and the energy company.

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