You might need to pay again a portion of your PPP cash, even when your online business utterly qualifies for forgiveness.
That’s what might occur should you make a mistake along with your PPP forgiveness paperwork. If there was ever a time to dot the Is and cross the Ts, it’s with the PPP forgiveness application.
Learn how to Keep away from PPP Mortgage Forgiveness Errors
Let’s begin with the fundamentals, after which delve into widespread errors to keep away from for PPP mortgage forgiveness.
PPP First Draw and Second Draw Phrases
The phrases are the identical. The coated interval begins on the day the PPP funds are disbursed from the lender to you.
The coated interval could be from 8 to 24 weeks, or 168 days. There may be an alternate coated interval for debtors who acquired PPP cash earlier than June 5, 2020. These debtors have the