I have been advising clients to plan for the PPP loan forgiveness the moment they receive the funding to maximize the forgiveness. If you haven’t done so, now is the time!
Based on SBA’s FAQ, proceeds from PPP loan is not loan free money. I agree, but we can plan for maximum (if not 100%) loan forgiveness and whatever portion has been forgiven, it is free money in every sense.
The entire application is 11 pages and can be found here:
If you have any questions about loan forgiveness, I will share with you what I know. You can make an appointment here.