Less, however still some, of the loan might be forgiven if the business reduced payroll by method of personnel or income reductions. Making complex matters further is some confusion between the PPP and the SBA’s other major coronavirus intervention, Economic Injury Disaster Loans. A 1%interest loan with a six-month deferment is, by any objective step, an absurdly great loan. If you return your PPP loan throughout the Safe Harbor window, you effectively never ever had the loan. There are no prepayment charges on PPP loans.
Complicating matters even more is some confusion in between the PPP and the SBA’s other significant coronavirus intervention, Economic Injury Disaster Loans. A 1%interest loan with a six-month deferment is, by any unbiased step, an absurdly great loan. If you return your PPP loan throughout the Safe Harbor window, you efficiently never ever had the loan.
