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PPP money is supposed to pay for payroll plus some non-payroll costs, including workplace rent, lease, home loan interest, and resources.

PPP money is supposed to pay for payroll plus some non-payroll costs, including workplace rent, lease, home loan interest, and resources.

To qualify for 100per cent loan forgiveness (including interest that is accrued, self-employed people and single proprietors must make use of the PPP loan to invest in: (1) payroll, excluding the pro-rated percentage of any settlement (including benefits) above $100,000 each year for just about any individual; (2) medical care advantages and insurance fees; (3) home loan interest (although not on any prepayment of or re re re payment of principal for a covered home loan responsibility); (4) rent re re re payments and leases in presence ahead of Feb. 15, 2020; and (5) particular utility re re payments incurred in the standard length of company ahead of Feb. 15, 2020. Continuer la lecture de PPP money is supposed to pay for payroll plus some non-payroll costs, including workplace rent, lease, home loan interest, and resources.