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The Feb 15th 2020 date

I formed the corporation in July 2019, then I hired myself, took a loan, and started construction. So I had loan repayment, expenses, and contractor payments to make. But the store itself didn't open till Marsh 2020. Do I meet the PPP requirement of being in business before Feb 15th 2020 or not? Thanks.

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Comments

  • Brian_SBMBrian_SBM Vice President, Entrepreneurship Administrator admin

    @agado Unfortunately, your position is in a gray area. The rule definition is that your business be "operational" as of that date, which I don't think necessarily applies here.

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