Here is how the PPP loan program is working for YOU!

The Paycheck Protection Program is a loan program to keep the payroll flowing during the Covid crisis. It was meant for companies that would be affected by all of the closures, it would allow them to keep paying their employees for 8 weeks. They've extended that time now. Here's how it works. A company takes its average monthly payroll for 2019 and multiplies that by 2.5 which gives the total amount of the loan that the company is eligible for.

So the company takes the SBA - PPP loan out. If they use it for payroll, then all of the loan used for payroll, mortgage expenses and a few other categories are forgiven. Yes, forgiven. Free money.

So in Oklahoma, and I'm sure in your state too, there are mutli-millionaires that have gotten free money from you. The loan forgiveness doesn't say which employees have to be paid the money. So I'm seeing many many many small business owners now driving brand new Porsches or Range Rovers. I've even see one that bought a new jet. You see, if you get a $3,000,000 loan from the government for payroll, you can pay yourself a $3,000,000 bonus and say screw the little people.

Nice Gubmint program we have here.