Searchable PPP Loan Data

Post by throwaway_kufu » Tue, Jul 07, 2020, 7:33 PM UTC

digitaltrees wrote: post #185

throwaway_kufu wrote: post #127

Earlier quoted context omitted.

Why should taxpayers have bailed out businesses that couldn’t keep employees on payroll though? There is no end in sight to either corona virus or the economic downturn, so it’s just throwing 8 weeks worth of taxpayer money into bad investments. What’s going to happen within 8 weeks to ensure these employees won’t just be let go again?

Because tax payers, through their elected representatives, implemented social policy shutting down economic activity. Businesses operate with a state issued license to operate. If the government seized that license it will be taking private property without compensation in violation of the constitution. So the tax payers can either pay to help companies survive or they can pay for seizures of private property. Frame…

Post by technothrasher » Tue, Jul 07, 2020, 7:35 PM UTC

eric_b wrote: post #77

So many complaints here. Based on the comments I think there is some misunderstanding about the nuts and bolts of this program. These are loans. They are two year low interest loans. They have to be paid back unless some or all is forgiven. Forgiveness requires documentation on employees retained, wage history, and is capped at $20k/employee maximum. And of course a piece of that comes back to the government in terms…

Post by throwaway_kufu » Tue, Jul 07, 2020, 7:36 PM UTC

digitaltrees wrote: post #191

throwaway_kufu wrote: post #161

Earlier quoted context omitted.

Taxpayers owe businesses nothing, if a business can’t survive 8 weeks without a taxpayer bailout then it’s a bad investment and at this scale it is a fundamental weakness of the entire economy that should be fixed not propped up with taxpayer money. > The funds can only be used for payroll to be forgiven. That an odd way to say up to 25% of the loan can be used for non-payroll expenses like business rent...why are bu…

No business can survive under those conditions and that is not a valid critique of their viability under a range of ordinary conditions. Tax payer do own businesses due process under law and a respect for private property rights. In America, the government can’t seize a business without compensation. Mandatory shut downs, in the absence of financial assistance, is arguably a “taking” under the constitution and a viol…

Post by [deleted] » Tue, Jul 07, 2020, 7:41 PM UTC

digitaltrees wrote: post #175

ryanwaggoner wrote: post #114

Earlier quoted context omitted.

Actually, the PPP was re-funded and was set to expire a week ago with $130 billion unused until they extended it until August.

I’ve said this a few times above but I’ll say it here. The funds are unused because the SBA threatened to criminal prosecute borrowers for obtaining loans when “they had alternative capital”. Lots of businesses owners worried that if they had home equity or credit cards available that would be “alternative capital” and they would go to jail. After the SBA guidance application volume dropped off a cliff so the SBA, ba…

Post by digitaltrees » Tue, Jul 07, 2020, 7:42 PM UTC

uptown wrote: post #152

digitaltrees wrote: post #143

I think PPP saved the economy. We can scapegoat and find problems. But don’t ignore what would have happened in its absence. Companies would reduce spending at the very least or go out of business at the worst. We would have entered a self reinforcing cycle of reduced spending and purchasing creating a depression.

"I think PPP saved the economy." You ain't seen nothing yet.