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by

Recorded live on June 4th, 2020

PPP Loan Myth Busters

PPP Loan Myth Busters



Borrowers still don’t have all the details on how the PPP loan forgiveness will be calculated. This has created a breeding ground for myths that further confuse business owners.

Join our certified HR experts as they debunk the Top 7 PPP Myths:

Myth #1: PPP funds can be used to pay employees’ retro pay.

Myth #2: Part time employees don’t have to be included in the full FTE calculation.

Myth #3: PPP funds can be used to pay independent contractors/1099s.

Myth #4: PPP funds can be used to pre-pay rent and utilities.

Myth #5: The covered period ends on June 30th for PPP loans.

Myth #6: As long as the employee does not make 100k annually, the $15,380 cap does not apply.

Myth #7: The PPP loan coverage period begins when businesses are able to reopen.

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