Shrewsbury, NJ
Is every PPP loan available for the public to look up?
I don’t think it’s cool if so.
(Topic ID: 272498)
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Quoted from woody76:yes, I like it for full transparency.
Then the government should just start posting everyone’s tax returns.
It’s applying public information to private companies.
Quoted from 85vett:They made it public for those companies that requested and received more than $150K. I have mixed opinions as well. On one hand it's nice for privacy for the business out there that needed help but on the other hand it's not a bad idea for the general public to know whom received these funds since it came from tax dollars and can help with some accountability as well. For instance some rather large companies (even publicly traded) were asking for and getting some of these funds that were intended for small businesses.
I’m glad those public companies got outed. In the instructions, it clearly stated that the PPP loans were meant for companies who don’t have access to the markets (ie - not public companies).
75% of all the funds goes to the employees for it to qualify as a forgivable loan. The employer portion of FICA doesn’t count for it. If employers don’t hit the thresholds, they need to pay it back with interest.
Disney issues $6 billion in new bonds. Privately held small businesses don’t have access to the credit markets like that.
Edit: changed employee to employer. Didn’t realize my typo when I first typed it.
Quoted from Rdoyle1978:Are they?
If they employees aren’t paid 75% of the PPP, then it becomes a loan that gets paid back.
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