has reportedly also received some PPP money too. Since the PPP first launched, big public companies revealed to be taking a PPP loan have faced criticism. Notably, it led food chains like Shake Shack and Ruth’s Chris Steak House to announce that they would return the loan. They were able...
The PPP was a U.S. loan program established to help small businesses affected by the economic slowdown associated with the COVID-19 pandemic to pay the wages of employees and certain other expenses. It was created by theCoronavirus Aid, Relief, and Economic Security (CARES) Actand origin...
You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, mortgage interest, rent, and utilities payments over the 8 weeks after getting the loan. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven ...
ThePaycheck Protection Program (PPP)was a huge federal program that paid out $793 billion in small business loans during the COVID-19 pandemic.1ThePPP Act, which instigated the program, allowed for much of that money to be forgiven, so the businesses that received it don’t have to pay i...
New Paycheck Protection Program (PPP) guidance declares that PPP recipients can apply for loan forgiveness early but that doing so could cost them money.
Grant recipients cannot also get a PPP loan. Loans made through community financial institutions and some small depository institutions. Money for borrowers with 10 or fewer employees and to provide loans under $250,000 in low-income areas. Changes announced on Feb. 22, 2021 remove additional ...
https://twitter.com/ptmoney/status/1244827006266679296 There’s some confusion around this and so all I can tell you is here’s what I’m doing:I applied for the EIDL at https://covid19relief.sba.gov/#/ and checked the $10,000 grant box during the application. I don’t plan on ta...
These procedures might incur a large amount of money that we don’t have on hand. Luckily, health insurance exists. It’s always a good thing to stay proactive and invest in important things like health insurance. However, health insurance doesn’t cover the entirety of medical costs. In a...
In order to get full or partial PPP loan forgiveness, it is critical that you spend the loan money on covered expenses. The new bill has expanded covered expenses for PPP. Below is the full list of covered expenses for PPP. Certain items are covered for all PPP recipients, round 1 and ...
To have your PPP Round 2 loan forgiven entirely or partially, you must spend the loan money on forgiving costs. For example, the first PPP round included electricity and heating, housing, wages, company medical insurance, and other qualified expenses, which are paid again in this PPP Round 2...