Quote:
Originally Posted by mililo4cpa
I have several clients that are eligible and putting packages in for round 2.....
I was VERY concerned about the expense reduction clause, but held out faith that the intention of the original PPP wasn't to give money in advance only to screw the participant later.....thank goodness that common sense prevailed.
Haven't dug into the new PPP parameters as much as the old one (been very busy lately), but one question that came up yesterday was whether the first loan had to be forgiven in order to qualify for the second round.....I honestly didn't know and haven't had time to research. Anyone know the answer to this?
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What I'd heard (not verified) was that if you had it forgiven you couldn't get PPP2.
That doesn't sound right. So I have no idea.