In this episode, you learn what the PPP loan covers and how you can use the PPP Money.
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HOW SOON CAN I GET A PPP MONEY?
Community finance institutions can start issuing PPP loans to companies on January 11, all approved finance institutions can start two days later on Wednesday, Jan. 13.
The interest rate is still 1 percent.
What kinds of expenses can a PPP loan cover under the new rules?
While the program was initially limited to payroll expenses, the new PPP funding can also be spent on a range of new expenses including operations expenditures, property damage costs, supplier costs, and worker protection expenditures.
The rules for how PPP funding can be spent are included on page 48 of this document.
(SBA) Sources
News Sources:
https://www.cnbc.com/2021/01/08/small-businesses-can-apply-for-ppp-loans-starting-jan-11.html
https://www.washingtonpost.com/business/2021/01/08/sba-ppp-loans/
https://www.journalofaccountancy.com/news/2021/jan/sba-treasury-issue-ppp2-guidance.html
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