Xan wrote: ↑Wed Aug 18, 2021 4:57 pm
Yes, thanks Vinny! As Glenn says, it doesn't say anything about your business actually being affected, it only asks whether "uncertainty" makes the money necessary.
Well who wasn't uncertain, especially back when this was being filled out.
And no, Pug, there wasn't any requirement on the forgiveness side to show any lost revenue. Round 2 of PPP had requirements to show actual effects. Round 1 didn't, on either the loan side or the forgiveness side.
I am looking at this form:
Paycheck Protection Program
PPP Loan Forgiveness Application Form 3508EZ
It included this:
In addition, the Authorized Representative of the Borrower must certify by initialing at least ONE of the following two items:
_____ The Borrower did not reduce the number of employees or the average paid hours of employees between January 1, 2020 and
the end of the Covered Period (other than any reductions that arose from an inability to rehire individuals who were
employees on February 15, 2020, if the Borrower was unable to hire similarly qualified employees for unfilled positions on
or before December 31, 2020, and reductions in an employee’s hours that a borrower offered to restore and were refused).
_____ The Borrower was unable to operate between February 15, 2020, and the end of the Covered Period at the same level of
business activity as before February 15, 2020 due to compliance with requirements established or guidance issued between
March 1, 2020 and December 31, 2020, by the Secretary of Health and Human Services, the Director of the Centers for
Disease Control and Prevention, or the Occupational Safety and Health Administration, related to the maintenance of
standards of sanitation, social distancing, or any other work or customer safety requirement related to COVID-19