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

They loaned out our tax money to help payroll. People caught on quick that they could make a minimal effort to payback and fraudulently use the money for other things.

I had a coworker, a nurse, that did exactly that. Small amount- like 40k. But still.

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