[WestCoastFunding]

its now 1% interest rate per mnuchin, and if they run out of money they will go back to congress for more

They will run out of money within weeks. The PPP will be renewed 3-4 times this year. But each time the process will become more difficult as borrowers use funds for other things than payroll. Many will say, "I've got to pay my suppliers who are breathing down my neck, along with other creditors, while also paying for other operating costs." Many will simply opt to use 25% of the funds for other uses not allowed by the PPP and settle for only having 75% of the loan forgiven.

Example: you're going to have nail salon owners collect on these funds for "payroll" but the shop isn't even going to be open in many areas that have "shelter in place". But that owner still is going to have liabilities. Sure, they may take this money and be the awesome owner and pay for their employees pay while the employees sit at home. But how many are going to use the money for bills other than PPP outlined uses? I would imagine many.

But here's the catch, once they use a single nickel outside the PPP guidelines, how many will then find themselves ****ed over for the next round of PPP that will happen in two months, after they're deemed ineligible for using funds outside the uses outlined? It will be interesting to see if there is an immediate verification process needed to renew for the next round.