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Apr 7, 2020
3:59:56pm
g$ All-American
Forgiveness will only apply for payroll costs paid out 90 days after loan
origination (still waiting for that to be defined more clearly) and the covered period is 8 weeks to calculate the loan forgiveness, so you don't have a lot of time to decided whether to continue to pay employees or not, from what I understand.

And yes, I would like to actually know if I am going to qualify for forgiveness before I make the decision to bring employees back from furlough to be able to make a good business decision, but I feel like I am between a rock and a hard place in either decision, and I have this strong suspicion that many businesses aren't going to "qualify" for forgiveness, because the demand for loans, far outstrips the set apart funds.

Frankly, if the last couple days worth of COVID data keeps up for the rest of the week, a far better solution seems like a major unwinding of work restrictions to restart the economy ASAP. If our employees were allowed to work, I don't have any worries about paying them, but under the current conditions, another month of this and half the companies in my state will be on the verge of bankruptcy.
This message has been modified
Originally posted on Apr 7, 2020 at 3:59:56pm
Message modified by g$ on Apr 7, 2020 at 4:08:52pm
g$
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g$
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