Originally Posted by
mthomasdev
For anyone that runs their scrapping business as a true business and files appropriate taxes. You should look into the PPP loans. Good money with forgiveable loans.
Isnt the only forgivable portion, the portion that goes to paying payroll?
Meaning, yes if you run a scrap operation with employees, the PPP loan is a no brainer as the gov essentially will pay them for you for a while, via the forgivable PPP loan, to keep people employed and businesses afloat...
Most here are on man shows, that dont have payroll, so even though we may be able to get the loan, no part of it will be "free money" that will get forgiven by the government.... but it is very low interest loan if you need the cash to stay afloat, but ya gotta pay it back...
This is just from what I have heard, if you know otherwise fill me in.... me and my wife both have businesses (sole-props)
My boss at my day job I think got the PPP loan, but I think I heard him say it is capped at previous years annual payroll, and has to go to payroll, to be forgiven.
mthomasdev 
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