Thread: News Hey Small Business Owners...What are you doing to ride the storm out?
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Old 04-02-2020, 12:59 PM   #259
Mr. Plow Mr. Plow is offline
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Quote:
Originally Posted by Dallas Chief View Post
Thanks. I was afraid that was the case. Doesn't make a whole lot of sense. Asking for a loan based solely on payroll expenses. But it can be used and forgiven for things like rent. But we aren't supposed to lay off employees that the loan was based on keeping. So how does it cover something like rent if it is to be used for payroll? 'Merica
That's why they are letting you ask for 2 1/2 times your monthly payroll. The 2 is for your payroll, the 1/2 is for your utilities/rent/etc.
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