Tackling The PPP Forgiveness Application
Businesses that obtained Paycheck Protection Program (PPP) loans now – as of May 15 – have a recipe to follow to have the loans forgiven. You have 56 days after the receipt of the proceeds to spend the money. If all the requirements are met, your business may be relieved from repaying all or part of the loan. When completing the application, you need to be aware that there are some gray areas.
