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quote of the day

People who have not repaid their loans may have other debts, or their income may not have returned to pre-pandemic levels.


A spokesperson for the Japan National Council of Social Welfare. The government had planned to collect about ¥104.7 billion in COVID-19 loans in 2023, but only about 37% of that amount was actually repaid, according to the labor ministry, adding that if steps are not taken to amend the situation, hundreds of billions of yen might ultimately be uncollectible.

© Yomiuri Shimbun

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Thats 37% of around 700 million USD.

I got a government business loan during Covid. Its the "maru kei yuushi" organization, not the welfare folks, but it wasn't difficult to qualify, just a fall in sales, and has no collateral or guarantor. I've paid every month, but since its unsecured, I do wonder how many other people are actually repaying theirs. The quote is loans from the welfare people so I'd imagine they are less likely to be repaid.

2 ( +2 / -0 )

, hundreds of billions of yen might ultimately be uncollectible.

That's not JGovt money, that's tax payer's money.

-1 ( +3 / -4 )

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