If you’re one of the small business owners in Nashville who received a Paycheck Protection Program (PPP) loan under the government’s CARES program, it’s important to make sure you fully understand what you signed up for to avoid unpleasant surprises down the road. Don’t hesitate to consult your
CPA if you’re unsure about anything related to the loan. Many of those who received the loan are now finding themselves uncertain about its actual benefits.
Here are some of the things you need to know.
Will the loan be forgiven?
Loan forgiveness is one of the major goals of the PPP loans. The government and your lender don’t expect you to pay back the loan as it was designed to help you and your employees tide over the crisis. However, you do need to show that you adhered to the guidelines for loan forgiveness.
Read more from this blog post:
http://bit.ly/EvanH15
