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    0 Replies Latest reply on May 3, 2020 5:02 PM by samshaw

    Re : PPP forgiveness 8 weeks calculation

    samshaw Wayfarer

      Hello there,

       

      Hope all is well. We just received the email regarding signing the promissory note from BofA on our PPP application. We run payroll twice a month ( 15 th and 1 st of month) , based on that 8 weeks calculation will if I sign promissory note today the 8 week will end on 05/28th and will miss my last payroll date 06/01. Therefore, the question is should wait till 05/06 to sign promissory note so that I pay the last payroll on 06/01 and meet 8 weeks requirement ?

       

      If so, concern is that if I wait ti ll Wednesday(05/06) to sign promissory note and  what if PPP runs out of funds?

       

      Appreciate the guidance on this.

       

      Many thanks,

      Sam