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re: When did PPP 8 weeks start?
Posted on 5/8/20 at 11:29 am to VABuckeye
Posted on 5/8/20 at 11:29 am to VABuckeye
quote:
I'm not sure I follow. You're bothered because other companies get to lay people off before you? My play is to lay off NO ONE.
Which was the foundation of the program. We all knew there would be massive flaws with this as quickly as it got passed. At this point, I'm enternally thankful I am one of the small group who got funding at all.
After reading the entire thread I understand the issue.
I would call the SBA 1800# and ask the question. They typically answer within 5 minutes, I got straight through on sunday at 9am.
This post was edited on 5/8/20 at 11:35 am
1
Posted on 5/9/20 at 10:18 am to shawnlsu
PPP loan fund my account on 5/1, but my business still closed due to Mr. "wonderful" JBE in commander. All 5 of my employees receiving unemployment benefit & I still have to pay rent. Should I use the PPP fund to pay my employees (even if the business still closed) to take advantage of the 25% fund to pay rent & utilities? Also, if My business allows to open on 5/22, that means I only have 5 weeks left and I can only use 50% of the PPP loan to pay my employees. Does that means I will qualify for 75% of the forgive loan amount? (25% rent + 50% payroll). Any help to clarify this mess is much appreciated. Clear as mud! 
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