I have a problem (high quality, admittedly), where my PPP is approved and I have the documents to sign, but my next payroll is on the 1st. (We do 1st and 15).
If I receive funding before the 27th of April, 8 weeks will not include my June 15th payroll, and that will be 30k I had used to calculate the loan amount.
Do I wait to close the loan? Or do I pay that payroll early (June 11th or the 12th or something)?
I feel that I need to sign the docs before Round 2 of funding sends the bank scrambling, but I want to make sure I can pay 75% towards payroll in the time allotted.
If I receive funding before the 27th of April, 8 weeks will not include my June 15th payroll, and that will be 30k I had used to calculate the loan amount.
Do I wait to close the loan? Or do I pay that payroll early (June 11th or the 12th or something)?
I feel that I need to sign the docs before Round 2 of funding sends the bank scrambling, but I want to make sure I can pay 75% towards payroll in the time allotted.