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Community Group
2013 members
76 questions
27 posts

Rebecca Schultz
Founder/Executive Loan Consultant at Synerlock

I'm agree with Ami and would expand on his comment about "risk of not being approved". Take the conversation to your MSLP lender and propose the offer to payoff the debt prior to loan approval. Your desire to minimize their... (More)

ami kassar
CEO Multifunding LLC and author of The Growth Dilemma

Rishi - I believe you would have to repay it before applying for the loan - which would create the risk of not being approved.

 

Aaron commented 12 days ago
Answer
PPP

Per the U.S. Treasury Department, you can submit for loan forgiveness at anytime during the 24 week period. It's also mentioned on Page 9 of the Interim Final Rule >

https://home.treasury.gov/system/files/136/PPP--IFR--Revisions-to-Loan-Forgiveness-Interim-Final-Rule-and-SBA-Loan-Review-Procedures-Interim-Final-Rule.pdf15

I also like a lot of what Rebecca is... (More)