|
West Texas near Lubbock | The SBA regs plainly state that the ownership compensation replacement is for the same year that was used to apply for the PPP loan. Since the compensation is for a prior year there is no reason to pay it forward in weekly checks. It is considered used and forgivable the day it hits your bank account. I'm a cpa and I have read the regs. Any cpa or attorney who has read the regs will have the same opinion. The bank where I got my loan is insisting that I write myself 12 equal weekly checks.
| |
|
Timing of PPP Draw 1 and PPP Draw 2
