PPP Rent foregivness - Spidell

PPP Rent foregivness

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Message Board PPP Rent foregivness

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    • #248359
      Bruce Zaer
      Participant

      client lease expired at end of April and new lease entered into in May since it was not in existence on 3/27 will rent paid for May & June qualify for forgiveness same question for utilities & insurance paid on new lease

    • #248605
      Mike Giangrande
      Participant

      The SBA has simply stated that the rent agreement must have been in place. I believe that if your client merely renewed their existing lease, then you will be okay.

    • #248670
      Bruce Zaer
      Participant

      The landlord for the old lease, prior to 3/27 sold the building and client was forced to move in May.  Thus all rent paid after PPP funds were received was under a new lease at a different location.    Will the rent now qualify for forgiveness

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