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What are the qualifications for this loan being forgiven?

To have your loan 100% forgiven, you’ll need to have:

  • 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.

Related Links

  1. What if I don’t have my Tax Return?
  2. When can I apply for forgiveness?
  3. Government Funds

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