Less, but still some, of the loan might be forgiven if the business reduced payroll by method of staff or income reductions. Making complex 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 had the loan. There are no prepayment penalties on PPP loans.
Making complex 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 objective procedure, a ridiculously great loan. If you return your PPP loan throughout the Safe Harbor window, you successfully never ever had the loan.
