Per our understanding, the PPP period is 8 weeks or 56 days from when funding was deposited in your bank account. Also, that it's on a cash basis, not accrual as to what left your account during that period.
My questions are two fold. 1) Will all payroll be forgiven up to the loan amount (assume no rent or utilities) if paid on a regular biweekly basis even though it's for more than 8 weeks? This is basically just due to timing. 2) Landlord only charged a partial rent up to shutdown day, and has waived rent for April and May...the formula was that at least 75% had to be payroll related, but wouldn't it be acceptable if in excess of that, like 90%?
TIA for any help on this. If anyone has a recent authoritative reference, that would be greatly appreciated also!