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Asked a question 2 years ago

We have been shutdown by the govt. since 3/23 and cannot open now till at least 5/4. Based on your answers in the webinar, if I apply for the PPP now and we are not open and all the employees are collect Unemployment. We would have to bring them all or most back while we are closed and can't do business. Do you fee that the govt. will loosen the ropes on the 8 week period to use the loan so it can be forgiven?

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Answered 2 years ago

Unclear, but if the intent is keeping workers paid I do not believe they would make changes you are referring to

Laid folks off before PPP announced. Some don't want to return- unemployment too good now ($1K/wk). Can I replace one with a family member and still have their salary forgiven?

Do we need to open a separate checking account for PPP funds or is it sufficient to prove spend in the amount of the PPP$

If you have had all your employees file unemployment , how do we apply for the PPP then? Are we not eligible? Can we ... then if we do not have enough to do so?

Since we will not use the 25% of our PPP loan for required purposes my bookkeeper is suggesting we could give out some ... that by giving employees the bonus?

Is PPP loan only for the business that are open for 12 months? What in case if we started the business in November 2019 ?

For the PPP loan, do I have to bring all employees to work at the same time or just the ones I would have work for. I ... anything to do until we open again.

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Asked a question 2 years ago

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