If you’re not going to bring back all of your employees, how could another round of PPP help your business?
Answered by:
You can use the PPP for operations or re starting your business and that would be paid back and not forgiven. So it could help in many ways to business owners. Even if they take it as a loan its only 1% interest and 5 years to pay it back.
1 Reply
Richard Mann
from Mann Law, P.C. Attorneys at Law
The banks we applied to would only loan what they calculated to be the forgivable amount. I applied to 3 including Chase and all 3 came up with different amounts using identical information.
Jason Pittman
from Citizens First Bank
Calculation was simple. 2.5 x your average monthly payroll. Should be consistent.
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