It is 100% guaranteed as long as you spend it on the qualified expenses

Sign up, and you can make all message times appear in your timezone. Sign up

Report problem with this ad

Apr 7, 2020
3:51:44pm

BYUCLA Truly Addicted User

It is 100% guaranteed as long as you spend it on the qualified expenses

This is not a “hope for forgiveness” sort of thing, but a “you will definitely be forgiven as long as you follow the rules, which are already laid out before you right now” sort of a thing.

There shouldn’t be any guessing or hoping right now, since it is pretty clearly laid out in the law.

This message has been modified

Originally posted on Apr 7, 2020 at 3:51:44pm

Message modified by BYUCLA on Apr 7, 2020 at 3:51:59pm

Report problem with this ad

BYUCLA

Previous username: jco77
Bio page: BYUCLA
Joined: Jul 23, 2012
Last login: May 7, 2024
Total posts: 5,060 (4 FO)

Report problem with this ad

Messages

Author

Time

Let’s talk PPP. My lender says the loan is given out now and the potential

4/7/20 3:43pm

You have to re apply for forgiveness through the lender

1984coug

4/7/20 3:45pm

I'm no expert but it seems pretty clear

Schultz is back

4/7/20 3:46pm

No, you have to use 100% of it for those items

volleyjiver

4/7/20 3:47pm

That makes sense. Thank you

Schultz is back

4/7/20 3:48pm

To clarify, 100% of the forgiven portion must be used for those items.

BYUCLA

4/7/20 3:49pm

True, but doesn't 75% of the amount have to go toward payroll related costs?

CLCougar

4/7/20 4:56pm

Yes, at least 75% Of the amount forgiven must be spent on payroll and

BYUCLA

4/7/20 5:27pm

You do know it will be forgiven, if you use it for payroll, mortgage, or rent

volleyjiver

4/7/20 3:46pm

My understanding is that the documentation required for forgiveness will be

m0resn0w

4/7/20 3:46pm

You will likely only get up to 25% of the loan forgiven.

RexIdaCoug

4/7/20 3:47pm

It is 100% guaranteed as long as you spend it on the qualified expenses

BYUCLA

4/7/20 3:51pm

Actual photo of banker issuing these loans.

PJMort

4/7/20 3:51pm

Forgiveness will only apply for payroll costs paid out 90 days after loan

g$

4/7/20 3:59pm

I only let my kids talk about PPP in the bathroom

bruincoug

4/7/20 4:08pm

Thanks for the answers guys. A poorly written and unedited post on my part

4/7/20 4:14pm

Just how old are these speaking babies? You might be sitting on a goldmine!

m0resn0w

4/7/20 4:17pm

9 weeks

4/7/20 4:19pm

RE: 9 weeks

m0resn0w

4/7/20 4:22pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad