Business clients are starting to have their PPP loans funded.
It’s VERY IMPORTANT when you open your loan that you find out from the bank WHEN , HOW and WHAT the bank wants to see to consider loan forgiveness.
- How is the documentation to be submitted?
- Exactly what do they want you to submit?
- When can you start submitting?
Note that many editorial writers feel that payroll costs must represent 75% (or more) of the use of the loan funds for… with the other 25% used for approved items such as business rent and utilities. AGAIN, CHECK WITH YOUR BANK!
If not forgiven, this is a loan subject to the terms in the loan application that you signed.
