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COVID-19 and the Paycheck Protection Program

Posted by Carl R. Buck | Apr 24, 2020 | 0 Comments

For those of you who applied for and got a Paycheck Protection Program Loan, remember that the SBA requires at a minimum:

  1. The money from the loan must be used within 8 weeks of being deposited into your account;
  2. You cannot spend more than 25% of the money on costs other than payroll;
  3. You must ask for the loan to be “forgiven”;
  4. If the loan isn't forgiven, you must repay it within 2 years. 

Any questions you have about your PPP Loan, contact us directly at (815) 730-1977. We are here to help!

About the Author

Carl R. Buck

"As an attorney, my goal is to represent you in an aggressive, practical, and ethical manner."

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Rathbun, Cservenyak & Kozol, LLC is a full-service law firm with three offices throughout Will County. Started in 1998 with one office, we now offer Joliet, Plainfield and Mokena offices and serve multiple communities and provide legal services with a wide range of litigation services.

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