Birdwatch Note Rating
2024-04-09 17:49:37 UTC - HELPFUL
Rated by Participant: 39ECFEF45C04A0477E680415768C2BD3C9AAB802CC376FFBF1C1627240CEE990
Participant Details
Original Note:
PPP loans were forgivable only if at least 60% of the money was used on payroll and 40% on eligible expenses (e.g., rent, utilities, etc.) AND all employees were kept despite gov enforced closures. This was essentially a way of avoiding mass layoffs during COVID. https://www.bench.co/blog/operations/ppp-loan-forgiveness
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