Been nervous ever since getting the PPP loan on Monday. We are a small CDL staffing business in Alabama and have 20 drivers employed. We dont have anything other than payroll to use the funds on. Its just scary getting something like this with no "real defind" guidance on what needs to be done to get the full forgiveness. Things are so fluid right now and changes seem to be made hourly. Anyone else feel like this!?
@michaels88369 wrote:
Been nervous ever since getting the PPP loan on Monday. We are a small CDL staffing business in Alabama and have 20 drivers employed. We dont have anything other than payroll to use the funds on. Its just scary getting something like this with no "real defind" guidance on what needs to be done to get the full forgiveness. Things are so fluid right now and changes seem to be made hourly. Anyone else feel like this!?
Not at all. Just use it for regular payroll incurred and paid within 8 weeks of the deposit and you'll be fine, unless some of the employees are at greater than $100k annual salary. Even if it's not 100% forgiven, with the balance you're left with a 2 year loan at 1% APR, which ain't bad.
