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re: Small Business Resource Thread COVID-19

Posted on 3/31/20 at 10:30 am to
Posted by tgrbaitn08
Member since Dec 2007
146214 posts
Posted on 3/31/20 at 10:30 am to
So in other words use the PPP loan just for payroll and the EIDL loan for expenses?


then one or the other or possibly both can partially be forgiven in the future?
This post was edited on 3/31/20 at 10:31 am
Posted by SippyCup
Gulf Coast
Member since Sep 2008
6145 posts
Posted on 3/31/20 at 10:39 am to
quote:

then one or the other or possibly both can partially be forgiven in the future?


EIDL will forgive the advance 10k.
PPP will forgive 8 weeks of payroll, utilities, rent and/or interest.

If you take the 10k from EIDL, 10k of the PPP will not be forgiven.
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