COVID-19 Outbreak (Update: More than 2.9M cases and 132,313 deaths in US)

The only reason you have 20 companies that roll up to the same investors or parent company is because you're already trying to hustle tax law loopholes.

There is no circumstance ever where a company of 10,010 employees should ever get a "small business loan" because one spin-out of the 10,000 person company has 10 employees. That's absurd. Quite literally the only reason that 10 person company exists is to artificially reduce the headcount and liability burden.

Your example is a large company playing tax, accounting, and legal games. They should not be eligible for a PPP loan. Ever.

And I have no problem with using the law to minimize your tax burden. I have an S-Corp, so I'm doing that very thing. But I'm not crying over the fact that because of that, my PPP lender calculated my loan based only off of my salary, which is less than half of my total comp. It's the consequence of having a corporate structure the way I do. So it goes.

This......X 100

These semantics are useless and self gratifying. The issue here is the funds are not being utilized as intended, for small businesses. Regardless of the SBA's definition, we all know the intent, and what has transpired to date. Political access was a large determining factor in who got funds the first round, not by need, or in any semblance by a fair and unbiased process. These larger corporations that got 10's of millions of dollars are gaming the system and have the access to do so - but this is during a crisis and it is disgusting. Thankfully some have given the funds back, but many more have not.

As a person who runs a medium to small size business here in CA that services agriculture, and had no shot at this PPP loan b/c funds were gone the day after applying to the likes of the Ruth Chris' and Penskes' of the world - it's frustrating to say the least.