Holy unintended incentivequences batman “If the recipient does not use at least 60% of the money on payroll, [it] becomes a loan with an interest rate of only 1% — much cheaper than a traditional Small Business Administration loan, whose interest rate can range from 5.5% to 8%.”https://twitter.com/latimes/status/1302998821308370944 …
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Replying to @vgr
So, you get a free loan which gets a tiny bit freeer if you don't fire your employees? No wonder big businesses gobbled it all up.
1 reply 0 retweets 2 likes
Replying to @theartlav
No, a very cheap loan that becomes an outright grant if you don’t lay-off. It’s not 1% vs 0%, it’s 1% vs free money. The catch is, you’re just passing through to employees and not able to build up capital assets with it like equipment.
9:52 AM - 7 Sep 2020
0 replies
0 retweets
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