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Justan Ohlphart[_3_]

Wrote in message:
On Wed, 8 Apr 2020 07:25:06 -0400, "Mr. wrote:The loans being offered to small businesses asan inducement to keep their employees employedis running into some major problems because ofthe way Congress wrote the $2T package.One problem is a result of the Dems insistencethat unemployment benefits be increased to thepoint where laid off employees can receive moremoney in benefits than they earned at theirjobs.If a small business owner applies for the loanand he/she can convince the employees to stayemployed, the loan becomes a grant.If the employees decide to collect instead, theloan becomes what it is ... a loan that has tobe repaid.Another problem is how the money from the SBAis distributed. A certain percentage can beapplied to payroll, another percentage towardsrent, etc.In high rent areas, there's not enough money topay both rent and the employee wages.We can thank you know who for this .....The other problem is there is no protection for the bank for fraud sothey will have to go through the same qualification regimen as they gothrough when they are loaning their own money because if the loanblows up, it is their money. This means, if you don't already have acredit line with the bank, they are going to be looking through yourbooks like they would if you just walked in off the street. With theshutdown, that will take a while.

Check with Fat Harry on that. He is the expert on the fraudulent
use of other peoples money.
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