These business owners won't get full forgiveness on their PPP loans
Cash-strapped business owners who received an EIDL Advance and took out a PPP loan as well are discovering that PPP forgiveness won't be as generous as they may have anticipated.
Further, borrowers who received EIDL Advances that were larger than the PPP loan won't be eligible for forgiveness on the paycheck protection loan, according toThe issue is front of mind for entrepreneurs as they begin to hash out forgiveness. Indeed, the SBA began receiving forgiveness applications from lenders this week.
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