![]() ![]() You do not need to adjust your payroll schedule. This is not necessarily the date on which you signed your loan agreement. 8 to 24 weeks of expense coverageĮxpenses eligible for forgiveness are those that are incurred over the 8 to 24 week period, starting from the day you receive your PPP loan from your lender. ![]() The following conditions will also apply: 1. Worker protection expenditures-any personal protection equipment or property improvements to remain COVID compliant from Maonwardsįurther reading: How to Spend Your PPP Funds (Updated for 2021)Īll expenses that fall under the above listed categories are eligible for forgiveness. ![]() Supplier costs-any purchase order or order of goods made prior to receiving a PPP loan essential to operations Property damage costs-any costs from damages due to public disturbances occurring in 2020 and not covered by insurance Operations expenditures-any software, cloud computing, or other human resources and accounting needs ( like Bench) Utilities-as long as service began before Febru( here’s what’s included in utilities) Rent-as long as the lease agreement was in effect before Febru( here’s what’s included in rent) Mortgage interest-as long as the mortgage was signed before February 15, 2020 Payroll-salary, wage, vacation, parental, family, medical, or sick leave, health benefits The funds from your PPP loan can be used for the following purposes: Let’s first review the terms of using your PPP loan. The conditions of the Paycheck Protection Program ![]()
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