Quote:
Originally Posted by RickFLM4
Quote:
Originally Posted by MisterF80M3
Kind of confused with the PPP loan. 75% of the loan must be used for payroll if you want the loan to be forgiven.
The question is 50% of my company's employees decided they did not want to come into work when the shelter in place was enforced. Since we are basing the average monthly payroll from 2019 W3. The amount is significantly more than what my monthly payroll is now.
What happens if we cannot use all the $ given to us for the PPP loan?
What happens if we have workers that want unemployment even though we have work for them? $1000 per week is appealing to a lot of people for doing nothing.
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Then I think a portion won’t be forgiven and becomes a low interest loan. |
This.
I plan on paying my employees for 8 weeks, regardless. 3 of them will not be able to work due to state mandates, but they'll get paid to be at home. I just hope to be able to utilize this so that it coincides with when I am allowed to work again. Cover payroll costs while I'm actually working, that would be fantastic.
I'm still very pessimistic about my chances of receiving any money. I'll believe it when I see it. No clue where the heck this money is coming from...