PPP forgiveness application deadlines begin this month
Without forgiveness, after mid-July the funding automatically becomes a standard loan with 1% interest
Some of the earliest Paycheck Protection Program borrowers need to apply for forgiveness by mid-July, after which the funding automatically becomes a standard loan with 1% interest, The Business Journals reports. Experts urge businesses to start forgiveness applications as soon as possible, especially if they received loans shortly after the program was established in April 2020 and had to spend the funds within an eight-week covered period.
Full Story: The Business Journals (tiered subscription model) (6/30)