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We did this though. The small business loans are fully forgivable if the business uses it to pay employee salaries.
by gen3 6y ago
We did this though. The small business loans are fully forgivable if the business uses it to pay employee salaries.
- adrianmonk 6y agoAnd the loans are only forgivable if the business retains their employees. From https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program#section-header-8 https://www.sba.gov/funding-programs/loans/coronavirus-relie... : > Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.