Junior's Cheesecake owner says it's an 'honorable' decision to wait to use small business loans

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'If we take this money and don't treat it like the precious capital that it is ... then we've done a disservice to everyone,' Junior's Cheesecake owner Alan Rosen told CNBC.

, generating some criticism from people who contended that keeping workers on unemployment insurance while also taking a loan through the Paycheck Protection Program was problematic.

Loans made through the program can be forgiven if they are used to cover payroll, and certain other expenses such as rent and utilities, in the eight-week period after the loan is made. If the criteria to be forgiven are not met, the money becomes a two-year loan at 1% interest.

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There is nothing honorable by not using it just as it is not dishonorable by using it.

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