PPP Loan in 3 Steps

Video transcript: "Well PPP loans, what do you really do, how do you make things work? You’ve heard of the 12 step program? The PPP process is really a 3 step program. Step 1 is apply for the money, step 2 is spend the money and step 3 is forgive the money. The rules came through so fast and this law moved with lightning speed that not all the details have been reported out. So what the government is doing is their issuing their rules in the same logical order. Give all the rules for how to get the money first. Why? It’s the first step. Then we’ll worry about the rules for the second stage for the money. What are the rules for how to spend it towards your potential forgiveness. The last part will most likely be, can you get you your maximum forgiveness or is it just a percentage. So yes, we would all like to know the rules, we would too. We know the framework some of the details still have to come. Stay tuned as we let you know more of these details as they become available."