PPP loans provide an incentive for small businesses & non-profits to keep workers on payroll. Loans are forgiven if all employees are kept on payroll for eight weeks and loan funds are used for payroll and other designated operating expenses.
PPP Loan Forgiveness Application and related instructions help small businesses seek forgiveness at the conclusion of the covered period, which begins with the disbursement of their loans.
We know navigating different COVID-19 relief programs can be challenging. The Pace University SBDC is here to help. Contact us to schedule a no-cost, one-on-one business counseling session.