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by GeorgeWBasic 2286 days ago
> If the landlord defaults, the banks (presumably) will repossess the property

As others have pointed out, this is not what any of us are saying. Those debts are paused too.

The loans DO NOT work, because most of these businesses are barely profitable at all. Now they have to recover to their previous levels of income AND pay back a loan? They can't. It's a ridiculous expectation.

1 comments

why is it ridiculous to expect a business to not make any profit after a crisis? The alternative is to close down the business, which, imho, is worse. At least, with the loan, a business that's barely making any profit can continue to barely make any profit after the crisis (but even less profit for the loan repayment). That's a better outcome than losing the business entirely. The employees remain employed, and the economy doesn't grind to a screeching halt into a depression.
This has already been explained to you, over and over again. The alternative is not to close down the business. It's to make it so the business owner doesn't have to pay anything during the crisis, except supplies for himself, so that the business doesn't close permanently. The loan is a really, really stupid idea, because it burdens the business more during the recovery, which guaranteed will be less profitable than before this, so it just delays the bankruptcies. You might as well have them not pay it back at all, but then why single out just business owners for free money? Why not everyone else too? And worse, everyone else runs out of money too because debts weren't paused, because enough people are stupid enough to think that loans are the way out of this instead of realizing that the economy doesn't work when nobody's buying anything but food and toilet paper, and pause it to prevent it from destroying itself. If this doesn't get done by the end of the month we're looking at another Great Depression.