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Ughhh the loans were meant to be forgiven if used for payroll and to help the business keep people employed. It was a stop gap measure to prevent further layoff
by gt565k 5y ago
Ughhh the loans were meant to be forgiven if used for payroll and to help the business keep people employed. It was a stop gap measure to prevent further layoffs. My company hired employees with the PPP loan and had to submit a lot of paperwork to get the loans forgiven. As long as the loans were used for payroll, they can be forgiven.
We had to get our employee count back up to pre covid layoffs and show proof of hours worked, еtc.