Quote:
Originally Posted by 1979-930
If you don't and use the money as you want it's still near free. 1% interest for 24 months is cheap money.
I used it as intended, but I can understand how some may just use it as a cheap loan.
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Well, I hate to say it, but the golf club I'm a member of in FLA took the PPP, lots of it. It's normally well balanced financially, but closing and then trying to keep all the employees was impossible without it. They spelled it out to all of us in an email a while back and it made sense for them to use the money for what it was designed for.
To their credit, EVERY employee was paid, and continues to get paid, while the club struggles with the financial impact of the pandemic. I'm guessing the club could have survived without it, but the employees would've suffered.
It's being used as it was supposed to be, and not used for capital improvements like some companies are doing.