The Paycheck Protection Program has worked for some and not for others.
If you got PPP money, navigating the ever-changing rules continues to be a minefield, but no worries.
In this episode of the Restaurant RockStars podcast, I’m speaking with Matthew Patrick, Principal of Patrick & Associates, a CPA firm specializing in the Paycheck Protection Program and Economic Injury Disaster Loans. We’re going to cover all the ins and outs of these programs, and most important how to maximize or get complete forgiveness for your PPP!
Listen on as we cover:
– The different programs: PPP vs EIDL Grant vs EIDL
– EIDL approvals are still coming
– The favorable terms of these loans and how this has improved since you got your money
– Initial challenges if you got money early with Round 1 or 2 and what’s happened since
– Big Changes in the timing and use of funds with a lengthy extension
– The complicated application and chances for forgiveness
and much more…
Best of all, if you haven’t yet applied for these bailout programs; as of this recording early in June, there was still money available. So our best advice would be to talk to your banker or lender now.
In the meantime, if you are challenged by all this, why not reach out to Matthew? He and his firm are standing by to help at www.patrickaccounting.com If you have payroll issues or questions, Matthew and his team are also standing by at www.whirks.com
I wish you the best of luck as you navigate this challenging time. Go out there and ROCK your Restaurant!
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