We hope you're all doing okay through all of this craziness. As the popular Paycheck Protection Programs continues to get additional funding, it's important to remember the key thing about this loan: it is a loan to begin with and you have to pay it back!
That's right, there's so much talk about it being the "forgivable loan" that you have to remember it is still a loan and you have to spend it in certain ways in order for it to qualify for forgiveness:
On top of this specific spending, you have to apply for forgiveness within the 8 week period and you have to keep impeccable records of this activity to substantiate everything. Doing these things correctly can mean the difference of having to repay the loan or not. This could save you thousands, if not hundreds of thousands of dollars.
We created an online program with tons of resources and instruction to help business owners through this crisis. Specific training on how to get your PPP loan forgiven is included. The program will be updated constantly as new legislation is passed. It was the result of trying to figure out how to help as many people as possible.[maxbutton id="1" url="https://courses.nguyencpas.com/courses/covid19taskforce" text="Check out or program!" ]