What Happens to Your PPP Loan If Your Business Closes?
Though COVID-19 has hammered the U.S. economy on a whole, small businesses have been exceptionally vulnerable to its wrath. More than 100,000 small businesses have already closed their doors, and nearly a quarter say they're considering ceasing to operate permanently, according to a recent survey by Small Business for America's Future.
If you're thinking of closing up shop because of the ongoing pandemic and recession, you'll clearly have a lot of financial loose ends to tie up. But what if you received a PPP loan earlier on in the year? Will you still be liable to pay it back?
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Source Fool.com