What happens if a portion of the loan is not forgiven?


If your PPP loan is fully forgiven, it essentially becomes a grant. If the loan is only partially forgiven, however, the unforgiven balance will be treated as a loan and must be paid back. PPP loan payments will be deferred for six months from the date of disbursement and there is no collateral or

How is a PPP loan different from an SBA disaster loan?


PPP loans are not the same as Economic Injury Disaster Loans administered by the SBA, better known as SBA disaster loans. For one, no personal or business collateral is required for PPP loans, while an SBA disaster loan may require collateral for loan amounts over $25,000. Second, only certain specified expenses are considered authorized

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