Posted on 04/23/2020 7:04:37 PM PDT by Hojczyk
However, it's unclear whether any of the news outlets intend to repay the money, or how much they'll repay.
The Tampa Bay newspaper, which received an $8.5 million loan, told Just the News on Thursday that its chairman and CEO, Paul Tash, says the federal government will "likely forgive much of the loan" and that the "remaining balance" will carry an interest rate of 1 percent.
The Seattle Times received a $9.9 million PPP forgivable loan from the federal government. In its voluntary announcement of the loan, the Seattle Times stated that the loan is forgivable but didn't specify whether the company plans to repay any of the money. The paper did not respond to a request for comment before publication.
The media outlet Axios, based in Arlington, Va., disclosed that it had received a forgivable PPP loan of roughly $5 million. Axios did not respond when asked if it plans to repay the loan.
Congress setup the Troubled Asset Relief Program (TARP) in the 2008 rescue package during the financial crisis.
Most of the money that went to financial institutions as part of the program had to be repaid.
(Excerpt) Read more at justthenews.com ...
This is corruption.
How do they get money the Tampa paper is still being delivered and printed...
it's not like there closed down....
Stick a fork in this country, it is done. America 2.0 after the Panscamic Riots
just wrong-MSM or at least tv is thriving-these biased idiots should go to their godfather-the Dem party
Small business got screwed the most and I don’t think government really cares. We are harder to bribe, have no money and no insider trading possibilities. The PPP is to keep employees we don’t need because there is no business. Makes the unemployment numbers look better. Trump screwed up on this bigtime
Forgivable loans are not loans.
Black is white
Night is day
Up is down
Truth is lies
And the attack from the media against the POTUS has quadrupled. Funny how that works.
Democrats in Congress making a payoff to the media with your tax dollars.
Like small children y’all are enchanted by the “D vs R” kabuki theater. WAKE UP!!!
These Liberal publications were already on the verge of going under before the virus. Now they get a taxpayer funded bailout. They are just loving this virus.
That's pretty much the purpose of the PPP. Keep businesses running and people working.
Do you think Congress should have picked winning and losing industries for the money?
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