THREAD: As we worry about shortages w/ the Paycheck Protection Program for small businesses, we should think about how to guard against companies that are relatively unaffected by the crisis but still qualify. They shouldn’t be taking the money. #CARESAct #CoronavirusUSA
2/ As a general principle, if it’s determined a business took the loan but didn’t need it, that business should be required to pay it back in full plus 1x penalty. #CARESAct #CoronavirusUSA
3/ Government would need to look at company net income at the end of 2020, and if you end up making more than you did in 2019, you probably didn’t need the loan. Obviously need to have a carveout for early-stage companies/start-ups and other outliers. #CARESAct #CoronavirusUSA
