Posts tagged loan.

One of the key benefits of a Paycheck Protection Program (PPP) loan is the ability to have all or a portion of the loan forgiven.  The amount of a PPP loan that will be forgiven is based initially on the qualifying costs an employer incurs during the 8 week period following loan funding (at least 75% of which must be used for payroll costs to qualify for 100% loan forgiveness).  The initial forgiveness amount is then subject to reduction under a headcount test and a salary test.  The headcount test and salary test reductions, however, do not apply in certain instances when headcount and salary are ...

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