The previous post on the third round of funding for the Paycheck Protection Program covered the big stuff – the necessity test, qualifications for taking out a second loan, and the latest attempt at simplified forgiveness. Here in Part 2, I’ll be going over the finer details, including EIDL advances, expense deductions, the ERTC, and other notes and restrictions.
The Act will permit you to select your covered period (i.e., the period in which you must spend the PPP loan funds). The covered period must be greater than eight weeks and not more than twenty-four weeks beginning from the date of disbursement.
Continue Reading Paycheck Protection Program Take Three? – Part 2