PPP Loan - Spidell

PPP Loan

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Message Board PPP Loan

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    • #268504
      Anonymous
      Member

      Is there  any reason why we can’t file the application for forgiveness early?  We are checking the 8 week forgiveness period.  If 90% forgivable we can go to 10 weeks ie. more payroll more expense.  If we meet it a 10 weeks can we apply for forgiveness?

    • #268596
      Lynn Freer
      Participant

      The choice is either 8 weeks or 24 weeks. You can’t pick your time period.

    • #268818
      Randal Thornally
      Participant

      The PPP loan application was based on a monthly payroll, times the factor of 2.5. Question: Why is the forgiveness calculation based on 8 weeks, or more precisely 56 days, rather than say 2 months? Any thoughts appreciated.

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