Released by Inside Charity …
Beyond the ease of qualifying and low interest rates, perhaps the most attractive feature of Paycheck Protection Program (PPP) loans is that they are eligible for “forgiveness.” This means that the lender can release the borrower from the obligation of repaying the balance. In other words, borrowers can get up to 2.5 times their monthly payroll costs without paying a cent.
However, “free” money is seldom unconditional. For example, if you’ve received PPP loan funds, you must apply for forgiveness within 90 days after the eight-week loan term. Applications for forgiveness will not be accepted after that period.
PLEASE NOTE: The Small Business Administration HAS NOT YET RELEASED THE ACTUAL APPLICATION TO BE USED FOR LOAN FORGIVENESS.
Don’t be surprised if there’s confusion early on! SUBSCRIBE HERE to receive “SBA LOAN FORGIVENESS APPLICATION” as soon as it’s released. VISIT HERE TO READ ENTIRE ARTICLE
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