BizAM
07-02-2020, 04:59 AM
I’m thinking of applying for the SBA’s Paycheck Protection Program loan for my c-corporation business.
Even though the business was operational in 2019, it did not have employees that year. It does, however, have employees since the start of 2020. Given that, would this business still qualify for a PPP loan? As documentation, could I just use a completed Form 941 from the first quarter of 2020? There wouldn’t be Forms 941 from 2019 because there were no employees.
Even though the business was operational in 2019, it did not have employees that year. It does, however, have employees since the start of 2020. Given that, would this business still qualify for a PPP loan? As documentation, could I just use a completed Form 941 from the first quarter of 2020? There wouldn’t be Forms 941 from 2019 because there were no employees.