It’s a pretty simple process. As long as you meet the following criteria, you can have your PPP loan 100% forgiven. You have to:
- Spend that money within 24 weeks (6 months)
- Employee and compensation levels are maintained (which if you’re self-employed is just you)
- At least 60 percent of the proceeds are spent on payroll costs, and the rest goes to other eligible expenses (wages / payroll, mortgage interest, rent, utilities, taxes, benefits, etc).
Then we’ll help you fill out the paperwork needed. You’ll need to provide some documentation that proves you actually spent it accordingly (like a bank statement), and you can have it 100% forgiven.